A RESOLUTION AUTHORIZING THE EXPENDITURE OF $400,000 FROM THE WATER DISTRICT'S SW RESERVE FUND FOR THE TOWN'S WATER DISTRICT FACILITIES IMPROVEMENTS PROJECT SUBJECT TO PERMISSIVE REFERENDUM

RESOLVED

1. The Town Board hereby authorizes and appropriates the sum of $400,000 from the Water District's existing SW Reserve Fund, or so much of such amount as shall be required therefor, for a portion of the costs of the water storage tank rehabilitation project.
2. No further expenditure shall be made from this fund except upon authorization of the Town pursuant to Section 6-c of the General Municipal Law.
3. This resolution shall take effect thirty days after adoption, unless there shall be filed with the Town Clerk a petition signed and acknowledged by the electors of the Town qualified to vote upon a proposition to raise and expend money, in number equal to at least five percentum of the total vote cast for governor in the Town at the last general election held for the election of State offices, protesting against this resolution and requesting that the matter be submitted to the qualified electors of the Town at a referendum in the manner provided by Article Seven of the Town Law.
4. The Town Clerk is hereby authorized and directed to cause to be published at least once in the Poughkeepsie Journal, a newspaper having a general circulation in the Town and hereby designated as the official newspaper of the Town for such publication, and to be posted on the sign board of the Town maintained pursuant to the Town Law, a notice which shall set forth the date of adoption of this resolution and contain an abstract thereof, concisely stating its purpose and effect and specifying that this resolution was adopted subject to a permissive referendum.