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Budget Note Resolution of the Village of Red Hook, New York, Adopted May 11, 2026, Authorizing the Issuance of Not to Exceed $206,000 Budget Notes

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    Budget Note Resolution of the Village of Red Hook, New York, Adopted May 11, 2026, Authorizing the Issuance of Not to Exceed $206,000 Budget Notes
    inline resolutionmeeting · 2026-05-11 · resolution 20-2026 · passed

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Budget Note Resolution of the Village of Red Hook, New York, Adopted May 11, 2026, Authorizing the Issuance of Not to Exceed $206,000 Budget Notes

Resolution #20-2026 — 2026-05-11

WHEREAS

  • the Village of Red Hook, in the County of Dutchess, New York, hereby authorizes the issuance of Budget Notes (the "Notes") of the Village, including renewals thereof, in the principal amount of not to exceed $206,000 for the specific object or purpose of providing funds to meet expenditures for which an insufficient or no provision has been made in the Village's 2025-2026 Annual Budget, to wit: expenses relating to the construction and operation of the Wastewater Treatment Plant and related sewer facilities of the Village.
  • the necessity of issuing the Notes has resulted from an emergency condition which has included discharge of effluent in excess of the applicable State Pollutant Discharge Elimination System (SPEDES) permit administered and enforced by the New York State Department of Environmental Conservation (DEC). DEC Consent Order R3-20250610-54 has been issued in connection with the matter.

RESOLVED

  • the Village of Red Hook (herein called the "Village"), in the County of Dutchess, New York, hereby authorizes the issuance of Budget Notes (the "Notes") of the Village, including renewals thereof, in the principal amount of not to exceed $206,000 for the specific object or purpose of providing funds to meet expenditures for which an insufficient or no provision has been made in the Village's 2025-2026 Annual Budget, to wit: expenses relating to the construction and operation of the Wastewater Treatment Plant and related sewer facilities of the Village. Said Notes shall be issued pursuant to Section 29.00 of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York (the "Law").
  • there are no other funds currently budgeted and available to pay or provide for the object or purpose. Said Notes shall mature within one year from their date of issuance and may be renewed from time to time but said Notes, including the renewals thereof, shall mature not later than the close of the fiscal second year succeeding the fiscal year in which such Notes are issued. The proceeds of the Notes herein authorized may be applied to reimburse the Village for expenditures made after the effective date of this resolution for the purpose of which said Notes are authorized.
  • the Notes herein authorized and any notes issued in renewal thereof shall contain the recital of validity prescribed by Section 52.00 of the Law, and shall be general obligations of the Village and the faith and credit of the Village are irrevocably pledged to the punctual payment of the principal of and interest on said Notes.
  • subject to the provisions of this resolution and of the Law, and pursuant to Section 30.00, and Sections 50.00, 56.00 and 60.00 of the Law, the powers to authorize and to prescribe the terms, form and contents and as to the sale and issuance of any such Notes and the renewals of the Notes authorized by this resolution, are hereby delegated to the Village Treasurer as the chief fiscal officer of the Village.
  • each of the Notes herein authorized shall be executed in the name of the Village by its Village Treasurer and the corporate seal of the Village shall be affixed thereon and attested by its Village Clerk.
  • this resolution shall take effect immediately.