RESOLUTION NO. 161
SUPPLEMENTAL BOND RESOLUTION DATED MARCH 11, 2024. A RESOLUTION AMENDING CERTAIN TERMS OF BOND RESOLUTION NO. 589 OF THE COUNTY OF ALBANY, NEW YORK, ADOPTED DECEMBER 4, 2023, AUTHORIZING IMPROVEMENTS TO THE SHAKER PLACE GARAGE AND PARKING LOT EXTENSION, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $9,295,000, APPROPRIATING SAID AMOUNT THEREFOR, AND AUTHORIZING THE ISSUANCE OF $4,647,500 OF SERIAL BONDS OF SAID COUNTY TO FINANCE A PORTION OF SAID APPROPRIATION
Introduced: 3/11/24
By Audit and Finance Committee:
THE COUNTY LEGISLATURE OF THE COUNTY OF ALBANY, NEW YORK, HEREBY RESOLVES AS FOLLOWS:
WHEREAS, on December 4, 2023, the County Legislature of the County of Albany, New York adopted Bond Resolution No. 589 of 2023 entitled:
BOND RESOLUTION OF THE COUNTY OF ALBANY, NEW YORK, AUTHORIZING IMPROVEMENTS TO THE SHAKER PLACE GARAGE AND PARKING LOT EXTENSION, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $9,295,000, APPROPRIATING SAID AMOUNT THEREFOR, AND AUTHORIZING THE ISSUANCE OF $4,647,500 OF SERIAL BONDS OF SAID COUNTY TO FINANCE A PORTION OF SAID APPROPRIATION
(the "Bond Resolution"); and
WHEREAS, on the date the County Legislature adopted the Bond Resolution the maximum estimated cost of the undertaking of the project described in Section 1 of the Bond Resolution (the "Project") was estimated to equal an amount not to exceed $9,295,000; and
WHEREAS, since the date of the Bond Resolution, the County Legislature has received additional information and desires to revise the plan of finance to include authorization for issuance of an amount not to exceed $9,295,000 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 maximum estimated cost of the Project; and
WHEREAS, Section 32.00 of the New York Local Finance Law requires, among other things, that any bond resolution adopted by the finance b...
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