NOTICE OF ADOPTION OF BOND RESOLUTION SUBJECT TO PERMISSIVE REFERENDUM

NOTICE IS HEREBY GIVEN that at a special meeting held on July 31, 2017, The Lake George Town Board, Warren County, New York, adopted a Resolution (the “Bond Resolution”) which is subject to a permissive referendum pursuant to Local Finance Law Section 35.00 and Article 7 of the New York Town Law. A summary of the Bond Resolution is as follows:

 

The Bond Resolution authorizes the issuance of up to a maximum amount of $180,000 in serial bonds and/or bond anticipation notes of the Town (the “Bonds”) to pay the maximum estimated cost of purchase of certain real property. The specific object or purpose for which the obligations authorized by the Bond Resolution are to be issued is purchase of a parcel of land for use by the Department of Public Works and for other public purposes, including related preliminary and incidental costs (the “Project”). The maximum estimated cost of the Project is $180,000 and the plan for financing such maximum estimated cost is issuance of the Bonds. A tax sufficient to pay the principal  of and interest on these obligations as they become due and payable will be levied on all the taxable real property of the Town annually. The maximum maturity of the Bonds will not exceed the Project’s 30-year period of probable usefulness.

 

A full copy of the Bond Resolution is on file in the Town Clerk’s Office at the Lake George Town Center, 20 Old Post Road, Lake George, New York, and can be examined by any Town elector during normal business hours.

Dated: July 31, 2017 Deborah Foley

Lake George Town Clerk

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