RESOLUTION NO. 275
BOND RESOLUTION OF THE COUNTY OF ALBANY, NEW YORK, DATED JULY 14, 2025, AUTHORIZING THE RECONSTRUCTION AND/OR REPLACEMENT OF BRIDGES ON COUNTY ROADWAYS, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $3,000,000, APPROPRIATING SAID AMOUNT THEREFOR, AND AUTHORIZING THE ISSUANCE OF $3,000,000 BONDS OF SAID COUNTY TO FINANCE SAID APPROPRIATION
Introduced: 7/14/25
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 reconstruct and/or replace bridges on County roadways, as further described in the County's 2026-2030 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 $3,000,000 and said amount is hereby appropriated therefor. The plan of financing is described as follows: (a) the issuance of an amount not to exceed $3,000,000 of bonds (and bond anticipation notes in anticipation of the issuance of such bonds) in such series and amounts as may be necessary to pay the cost thereof, (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 costs thereof. In the event that such grants or other moneys become available, the County will issue obligations in a principal amount less than the $3,000,000 amount authorized by this resolution, or pay down such obligations with the amount of such grants and other moneys received by the County.
Section 2. Bonds (and bond anticipation notes in anticipation of the issuance of suc...
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