SUBJECT TO A PERMISSIVE REFERENDUM
At a regular meeting held on the 24th day of March, 2020, the Town Board of the Town of Oswego, New York duly adopted a resolution, an abstract of which follows, which resolution is subject to a permissive referendum pursuant to Section 35.00 of the Local Finance Law of the State of New York. If after thirty days of the resolution’s adoption by the Town Board, no petition objecting to the resolution and requesting approval by the voters is filed with the Town Clerk of the Town of Oswego, the resolution will be declared duly adopted.
ABSTRACT OF BOND RESOLUTION DATED MARCH 10, 2020
The following is a summary of a resolution adopted by the Town Board of the Town of Oswego on March 24, 2020. Said resolution authorizes the issuance and sale of a serial bond or bonds, and a bond anticipation note or notes in anticipation of the issuance and sale of said serial bond or bonds, in an amount not to exceed $1,300,000. The proceeds from the sale of the obligations authorized in said resolution shall be used for the object or purpose of the replacement of the current bridge carrying Thompson Road over Rice Creek, including but not limited to demolition of the existing road and sub-base, existing culverts and concrete headwalls, and excavating down to the natural creek bed removal and construction and installation of a new bridge, preliminary costs thereof and costs incidental thereto, including issuance costs of the Bonds and bonds anticipation notes. The estimated maximum cost of said object or purpose is $1,300,000, and the period of probable usefulness thereof is twenty (20) years.
Dated: March 24, 2020
Town of Oswego
Oswego County, New York