Red Hook WatchIndependent Community Resource

Bond Council

↑Meetings/Documents/res::11-2011::2011-11-17::_11172011-523
Inline resolution2011-11-17#11-2011
Open original PDFView version history →Meeting on 2011-11-17 →

Bond Council

Resolution #11-2011 — 2011-11-17

WHEREAS

  • the Village of Red Hook intends to continue its application for USDA-RD grant money for the water improvement project as per preliminary funding approval
  • the process includes a bonding process to secure the grant from USDA-RD
  • the preliminary funding approval is in the amount of $1.27 million at an interest rate of 2.25% for 38 years and requires formal bond process
  • the bond will require the professional services of a bonding attorney
  • the USDA-RD preliminary approval included a list of experienced attorneys and or law firms that have worked with USDA-RD
  • the Mayor interviewed several firms and sought input from Clerk Cole
  • the law firm of Hawkins, Delafield & Wood was one of the USDA-RD listed firms, was interviewed and already acts as bond counsel to the Village for the building project
  • the above firm will comply with requirements of USDA-RD and is familiar with the details of a USDA-RD application and has already worked with the Village in the bonding process

RESOLVED

  • that the law firm of Hawkins, Delafield & Wood be selected to act as bond counsel for the Village of Red Hook for the USDA-RD water improvement grant bonding process