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Resolution to Resolve the General Fund Advance to the Sewer Fund

1 versions2026-04-27#op-_04272026-732-02inline resolution

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Resolution to Resolve the General Fund Advance to the Sewer Fund

WHEREAS

  • the Sewer Fund could not cover its $205,430 bond payment in February 2026, and the Board authorized a temporary advance from the General Fund under GML §9-a (Resolution 7–2026)
  • by the terms of Resolution 7–2026 and GML §9-a, the advance must be repaid by May 31, 2026 — 34 days from tonight
  • the Village Attorney confirmed on April 13, 2026 that failure to repay by May 31 may expose individual Trustees and officers to personal liability under applicable law
  • the Treasurer is scheduled to present a repayment plan by May 11, 2026, and the FY 2026–27 budget must be adopted before May 1, 2026
  • converting the advance to a permanent transfer is the simplest resolution: it eliminates the repayment obligation, avoids external borrowing costs, and leaves the Sewer Fund with an opening balance of approximately $109,000 — sufficient to cover the next bond payment without a repeat of this year's crisis

RESOLVED

  • the §9-a General Fund advance authorized by Resolution 7–2026 ($205,430) is hereby converted to a permanent General Fund transfer to the Sewer Fund. The Sewer Fund's repayment obligation is eliminated. The Treasurer shall reconcile the advance and amend the FY 2025–26 budgets accordingly
  • this resolution shall take effect immediately

Changes between versions

2026-05-112026-05-11
adopted+358

The document transitioned from a draft text to a formal resolution including meeting details, voting records, and attestation.

  • Document transitioned from a plain text summary to a formal 'VILLAGE OF RED HOOK RESOLUTION #____ - 2026'
  • Added meeting preamble: 'A meeting of the Village of Red Hook was convened in public session at the Village Hall, 7467 South Broadway, Red Hook, NY on May 11, 2026. The meeting was called to order by Mayor Smythe.'
  • Added formal voting table including Mayor Smythe, Deputy Mayor Kjarval, Trustee Uku, Trustee Allen, and Trustee Rothstein
  • Added attestation clause and signature line for 'Jennifer Cavanaugh, Clerk'
Show red-line diff
## **VILLAGE OF RED HOOK RESOLUTION #____ - 2026** ## **DATED: MAY 11, 2026** A meeting of the Village of Red Hook was convened in public session at the Village Hall, 7467 South Broadway, Red Hook, NY on May 11, 2026. The meeting was called to order by Mayor Smythe. ## **RESOLUTION AUTHORIZING THE TAX LEVY AND WARRANT FOR FISCAL YEAR 2026-2027** WHEREAS clauses: -, the budget for the fiscal year commencing June 1, 2026 has been duly adopted and filed with the Village Clerk, which includes $1,465,214 to be raised by the property tax levy. -; and WHEREAS, the Assessment Roll established by the Red Hook Assessor for fiscal year June 1, 2026 through May 31, 2027, shows the total assessed valuation of real property in the Village of Red Hook is $329,291,070. NOW THEREFORE BE IT RESOLVED clauses: -that the tax rate for the Village of Red Hook for the fiscal year commencing June 1, 2026, is fixed at the rate of $4.441892 on each $1,000 of assessed valuation for properties in the Village of Red Hook. -; and BE IT FURTHER RESOLVED that the sum of $1,465,214 shall be the taxes set for the fiscal year commencing June 1, 2026 and is hereby levied on the taxable property in the Village of Red Hook and that the Village Clerk is hereby authorized and directed to receive and collect such sums without additional charge between the first day of June and July 1st1[st] ; and between July 2nd2[nd] and July 31st31[st] to collect with any sum not yet collected, an additional charge of 5% as penalty; and between August 1st1[st] and August 31st31[st] to collect with any sum not yet collected, an additional charge of 6% as penalty; and between September 1st1[st] and September 30th30[th] to collect with any sum not yet collected, an additional charge of 7% as penalty; and between October 1st1[st] and November 2nd2[nd] to collect with any sum not yet collected, an additional charge of 8% as penalty. -; and BE IT FURTHER RESOLVED that the Village Clerk shall deliver the tax roll and warrant to the Village Treasurer on or before the first day of June 2026 and in November 2026, to deliver to the Board of Trustees an account of the taxes remaining due and unpaid; describing each parcel of real property upon which taxes are unpaid, showing the person or persons to whom the parcel is assessed and showing as to each parcel that amount of tax unpaid. -; and BE IT FURTHER RESOLVED that the Village Treasurer, with information provided by the Town Assessor, is authorized to levy and collect additional Village taxes upon termination of exempt status of real property in accordance with provisions of Section 494 of the Real Property Tax Law during the fiscal year beginning June 1, 2026. ## Motion by: Seconded by: The foregoing resolution was duly put to a vote, which resulted as follows: |Mayor Smythe|☐Aye|☐Nay|☐Abstain|☐Recuse|☐Absent/Excused| |---|---|---|---|---|---| |DeputyMayor Kjarval|☐Aye|☐Nay|☐Abstain|☐Recuse|☐Absent/Excused| |Trustee Uku|☐Aye|☐Nay|☐Abstain|☐Recuse|☐Absent/Excused| |Trustee Allen|☐Aye|☐Nay|☐Abstain|☐Recuse|☐Absent/Excused| |Trustee Rothstein|☐Aye|☐Nay|☐Abstain|☐Recuse|☐Absent/Excused| |Vote Total|||||| |Result|Motion:||||| I hereby attest that the above Resolution was approved by the Board of Trustees at its May 11, 2026, meeting, and that I have been authorized to sign this Resolution by decision of the Board of Trustees ______________________ ____________________ Jennifer Cavanaugh, Clerk Date

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