RESOLUTION NO. 393
BOND RESOLUTION OF THE COUNTY OF ALBANY, NEW YORK, AUTHORIZING PAVING VARIOUS COUNTY-OWNED PARKING LOTS AND AREAS, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $1,000,000, APPROPRIATING SAID AMOUNT THEREFOR, AND AUTHORIZING THE ISSUANCE OF $1,000,000 OF SERIAL BONDS OF SAID COUNTY TO FINANCE SAID APPROPRIATION
Introduced: 7/8/24
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 a capital project for the Department of Public Works, which shall include paving County-owned parking lots and other County-owned areas in need of paving that are not roadways, including, but not limited to, paving the parking lots of the Cornell Cooperative Extension and Parks and Recreation parking lots, together with any necessary site improvements., as further described in the County's 2025-2029 Capital Program, 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 $1,000,000 and said amount is hereby appropriated therefor. The plan of financing is described as follows: (a) the issuance of an amount not to exceed $1,000,000 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 $1,000,000 to pay the cost of the capital projects, (b) the receipt of various federal and state grants, and/or (c), subject to the discretion of the County, the application of moneys from the County's General Fund or such other moneys of the County that may be available to pay the co...
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