The resolution, a summary of which is published herewith, has been adopted on April 6, 2020, and the validity of the obligations authorized by such resolution may be hereafter contested only if such obligations were authorized for an object or purpose for which the Village of Freeport, in the County of Nassau, New York, is not authorized to expend money or if the provisions of law which should have been complied with as of the date of publication of this Notice were not substantially complied with, and an action, suit or proceeding contesting such validity is commenced within twenty days after the publication of this Notice, or such obligations were authorized in violation of the provisions of the constitution.
Pamela Walsh Boening
BOND RESOLUTION OF THE BOARD OF TRUSTEES OF THE VILLAGE OF FREEPORT, NASSAU COUNTY, NEW YORK (THE “VILLAGE”), AUTHORIZING THE ISSUANCE OF $300,000 IN SERIAL BONDS OF THE VILLAGE TO FINANCE THE PAYMENT OF CERTAIN TAX CERTIORARI JUDGMENTS, COMPROMISED CLAIMS AND SETTLED CLAIMS RESULTING FROM COURT ORDERS, STATING THAT THE ESTIMATED MAXIMUM COST THEREOF IS $300,000, AND APPROPRIATING SAID AMOUNT THEREFOR
The object or purpose for which the bonds are authorized is the payment of judgments, compromised claims or settled claims resulting from court orders on proceedings brought pursuant to Article 7 of the Real Property Tax Law that are payable in the fiscal year ending February 28, 2021.
The period of probable usefulness is a minimum five (5) years and maximum twenty (20) years, dependent on the total amount of tax certiorari claims paid in a single fiscal year.
The maximum amount of obligations authorized to be issued is $300,000.
A complete copy of the Bond Resolution summarized above shall be available for public inspection during normal business hours at the office of the Village Clerk, Village of Freeport, Village Hall, 46 N. Ocean Avenue, Freeport, NY 11520.
Dated: April 6, 2020
Freeport, New York