RESOLUTION NO. 304
BOND RESOLUTION OF THE COUNTY OF ALBANY, NEW YORK, AUTHORIZING THE SLUDGE PROCESSING IMPROVEMENTS PROJECT, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $65,000,000, APPROPRIATING SAID AMOUNT THEREFOR, AND AUTHORIZING THE ISSUANCE OF $65,000,000 OF SERIAL BONDS OF SAID COUNTY TO FINANCE SAID APPROPRIATION
Introduced: 5/13/24
By Audit and Finance Committee:
THE COUNTY LEGISLATURE OF THE COUNTY OF ALBANY, NEW YORK, HEREBY RESOLVES AS FOLLOWS:
Section 1. The County of Albany, New York (the "County") is hereby authorized to undertake various improvements to the County sludge processing systems, including, but not limited to, improvements to the North Plant incinerators, sludge mixing and dewatering systems, along with the consolidation of sludge operation to the North Plant via a new sludge forcemain and upgrades to the North Plant incinerator emissions controls, together with any necessary site work and the acquisition and installation of furnishings, equipment, machinery and apparatus for the foregoing purposes, together with the preparation of planning, engineering and feasibility studies and review, as further described in the County's 2025-29 Capital Plan, as amended and supplemented (hereinafter referred to as the "Capital Program"). The estimated maximum cost of said specific object or purpose, including preliminary costs and costs incidental thereto and the financing thereof (including the costs relating to the issuance of the obligations authorized by this resolution), is an amount not to exceed $65,000,000 and said amount is hereby appropriated therefor. The plan of financing is described as follows: (a) the issuance of an amount not to exceed $65,000,000 of serial bonds (and bond anticipation notes in anticipation of the issuance of such serial bonds) in such series and amounts as may be necessary to pay the cost thereof, but in no event in excess of $65,000,000 to pay the cost of the capital projects, (b) the recei...
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