RESOLUTION NO. 529
REFUNDING BOND RESOLUTION OF THE COUNTY OF ALBANY, NEW YORK, ADOPTED DECEMBER 8, 2025, AUTHORIZING THE REFUNDING OF CERTAIN OUTSTANDING BONDS OF SAID COUNTY, STATING THE PLAN OF REFUNDING, APPROPRIATING AN AMOUNT NOT TO EXCEED $55,525,000 FOR SUCH PURPOSE, AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $55,525,000 REFUNDING BONDS TO FINANCE SAID APPROPRIATION, AND MAKING CERTAIN OTHER DETERMINATIONS RELATIVE THERETO
Introduced: 12/8/25
By Audit and Finance Committee:
Recitals
WHEREAS, on December 28, 2017, the County of Albany, New York (herein called the "County"), issued its $18,235,000 General Obligation Refunding Serial Bonds-2017, currently outstanding in the principal amount of $8,395,000 (the "Outstanding 2017 Bonds"), pursuant to the refunding bond resolution duly adopted by the County Legislature on November 13, 2017, to refund a portion of the County's Various Purposes Serial Bonds-2013, which were issued to finance the objects or purposes set forth in Exhibit A attached hereto and made a part thereof; and
WHEREAS, the Outstanding 2017 Bonds mature on August 1 in the years and in the principal amounts and bear interest payable semiannually on February 1 and August 1 in each year to maturity, as follows:
Year of
Maturity
Principal
Amount
Interest
Rate
2026
$2,685,000
4.00%
2027
2,795,000
4.00
2028
2,915,000
4.00
WHEREAS, the Outstanding 2017 Bonds maturing on or after August 1, 2026 are subject to redemption prior to maturity, at the option of the County, on any date on or after August 1, 2025, in whole or in part, and if in part in any order of their maturity and in any amount within a maturity (selected by lot within a maturity), at the redemption price equal to the principal amount of the Outstanding 2017 Bonds to be redeemed, plus accrued interest to the date of redemption; and
WHEREAS, on April 12, 2018, the County issued its $140,740,000 Various Purposes Serial Bonds-2018, currently outstanding in t...
Click here for full text