RESOLUTION NO. 302
BOND RESOLUTION OF THE COUNTY OF ALBANY, NEW YORK, AUTHORIZING THE CR 157 WATERVLIET SHAKER ROAD PROJECT, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $1,691,070, APPROPRIATING SAID AMOUNT THEREFOR, AND AUTHORIZING THE ISSUANCE OF $1,691,070 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 a capital project for the Department of Public Works, which shall include the additional engineering study, design and reconstruction of Watervliet Shaker Road between New Karner Road and Sand Creek Road, 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 2025-2029 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 $1,691,070 and said amount is hereby appropriated therefor. The plan of financing is described as follows: (a) the issuance of an amount not to exceed $1,691,070 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 $1,691,070 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 Count...
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