RESOLUTION OF THE VILLAGE OF RED HOOK, NEW YORK, ADOPTED JULY 13, 2026, AMENDING THE BOND RESOLUTION ADOPTED ON FEBRUARY 10, 2025, RELATING TO THE CONSTRUCTION OF IMPROVEMENTS TO THE VILLAGE'S WASTEWATER TREATMENT PLANT (PHASE 2)

Resolution #34-2026 — 2026-07-13

WHEREAS

• the Board of Trustees of the Village of Red Hook, in the County of Dutchess, New York, has heretofore duly authorized the construction of improvements to the Village's wastewater treatment plant (Phase 2), as described in the engineer's report prepared by Delaware Engineering, D.P.C. dated June 2024, at the estimated maximum cost of $20,000,000 pursuant to the bond resolution adopted by the Board of Trustees on February 10, 2025
• it has now been determined that the estimated cost of such project shall be $28,000,000, and it is in the public interest to increase said appropriation by $8,000,000 and to increase the principal amount of bonds authorized by a like amount

RESOLVED

• The bond resolution of the Village of Red Hook duly adopted by the Board of Trustees on February 10, 2025 is hereby amended to authorize the issuance of bonds in a principal amount not to exceed $28,000,000 to finance the construction of improvements to the Village's wastewater treatment plant (Phase 2), with an estimated maximum cost of $28,000,000
• The Village of Red Hook is authorized to issue bonds in a principal amount not to exceed $28,000,000 pursuant to the Local Finance Law to finance the construction of improvements to the Village's wastewater treatment plant (Phase 2), as described in the engineer's report prepared by Delaware Engineering, D.P.C. dated June 2024 and revised July 2026
• The estimated maximum cost of the project, including preliminary costs and costs incidental thereto and the financing thereof, is $28,000,000 and said amount is hereby appropriated for such purpose, with the plan of financing including the issuance of bonds in a principal amount not to exceed $28,000,000 and the levy and collection of taxes on all taxable real property in the Village
• Bonds of the Village in the principal amount of $28,000,000 are hereby authorized to be issued pursuant to the Local Finance Law
• The period of probable usefulness of the object or purpose for which said bonds are authorized is forty (40) years; the proceeds of the bonds and any bond anticipation notes may be applied to reimburse the Village for expenditures made after the effective date of this resolution; and the proposed maturity of the bonds will exceed five (5) years
• Each of the bonds authorized by this resolution and any bond anticipation notes issued in anticipation of the sale of said bonds shall contain the recital of validity and shall be general obligations of the Village, payable as to both principal and interest by general tax upon all taxable real property within the Village, with the faith and credit of the Village irrevocably pledged to punctual payment
• The powers and duties of the Board of Trustees relative to authorizing bond anticipation notes and prescribing the terms, form and contents and as to the sale and issuance of the bonds are hereby delegated to the Village Treasurer
• The validity of the bonds authorized by this resolution may be contested only under specified conditions and within twenty days after publication
• This bond resolution is subject to a permissive referendum and the Village Clerk is authorized and directed to publish or cause to be published the resolution in full in the official newspaper and posted in at least six public places and each polling place
• The Village Clerk is authorized and directed to cause said bond resolution to be published in summary in the official newspaper together with a Notice as provided by Section 81.00 of the Law
• The amendment of the bond resolution shall in no way affect the validity of any liabilities incurred, obligations issued, or action taken pursuant to said bond resolution prior to amendment
• Said bond resolution, as amended, is subject to a permissive referendum, and in the event that a valid petition protesting against said bond resolution is filed and the Proposition is defeated, the validity of the bond resolution adopted on February 10, 2025 shall not be affected and shall remain in full force and effect