File #: 24-315    Version: 1 Name:
Type: Resolution Status: Passed
File created: 5/2/2024 In control: Audit and Finance Committee
On agenda: Final action: 5/13/2024
Title: OMNIBUS RESOLUTION DATED MAY 13, 2024. A RESOLUTION RESCINDING CERTAIN PRIOR BOND RESOLUTIONS ADOPTED BY THE COUNTY OF ALBANY, NEW YORK
Sponsors: Audit and Finance Committee
Attachments: 1. 24-162 AF - RULE 11 - 5267 - BOND - OMNIBUS AMENDMENTS TO 2023 BOND RESOLUTIONS REGARDING FINANCING PLAN, 2. 24-315 IND - TMP-5468 - OMNIBUS RESCISSION - MAY 2024

RESOLUTION NO. 315

 

OMNIBUS RESOLUTION DATED MAY 13, 2024, A RESOLUTION RESCINDING CERTAIN PRIOR BOND RESOLUTIONS ADOPTED BY THE COUNTY OF ALBANY, NEW YORK

 

Introduced: 5/13/24

By Audit and Finance Committee:

 

THE COUNTY LEGISLATURE OF THE COUNTY OF ALBANY, NEW YORK, HEREBY RESOLVES AS FOLLOWS:

 

WHEREAS, The County Legislature has adopted the bond resolutions described on Schedule A attached for the purposes of financing the undertaking of certain capital projects (collectively, the “Bond Resolutions”); and

 

WHEREAS, The County Legislature does not intend to move forward with the issuance of bonds and/or notes as authorized by the Bond Resolutions, and therefore, the County Legislature desires to rescind the Bond Resolutions (or portions thereof) as permitted under the Local Finance Law;

 

NOW, THEREFORE, BE IT RESOLVED, By the County Legislature of the County of Albany, New York, as follows:

 

SECTION 1.                                          The Bond Resolutions (or portions thereof) described on Schedule A to this resolution are hereby rescinded.

 

SECTION 2.                                          The adoption by the County of this resolution is a Type II action under the provisions of the State Environmental Quality Review Act (“SEQRA”), and no further action by the County is required under SEQRA.

 

SECTION 3.                                          This resolution shall take effect immediately.

 

 

 

 

 

 

 

 

 

                     

 

No.

Resolution Title

Resolution Number

Portion of Resolution Rescinded

Project No.

1.

BOND RESOLUTION OF THE COUNTY OF ALBANY, NEW YORK, ADOPTED FEBRUARY 13, 2023, AUTHORIZING THE UNDERTAKING OF VARIOUS CAPITAL PROJECTS FOR THE MVP ARENA, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $1,625,000, APPROPRIATING SAID AMOUNT THEREFOR, AND AUTHORIZING THE ISSUANCE OF $1,625,000 OF SERIAL BONDS OF SAID COUNTY TO FINANCE SAID APPROPRIATION.

No. 9 of 2023

Section 3 (pertaining to loading dock project) to be rescinded.

TMP - 5143

2.

BOND RESOLUTION OF THE COUNTY OF ALBANY, NEW YORK, ADOPTED DECEMBER 7, 2020, AUTHORIZING VARIOUS CAPITAL IMPROVEMENTS FOR THE DEPARTMENT OF PUBLIC WORKS, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $12,721,000, APPROPRIATING SAID AMOUNT THEREFOR, AND AUTHORIZING THE ISSUANCE OF $12,721,000 OF SERIAL BONDS OF SAID COUNTY TO FINANCE SAID APPROPRIATION.

No. 64 of 2023

Amendments proposed in Schedule A (pertaining to increase in bond authorization) should be rescinded.  No change in the Project or authorization of bonds or notes contained in Resolution No. 470 of 2020.

TMP - 5154

SCHEDULE A