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Bond Resolutions and Debt Issuance

2026last touched · 18 source resolutions
↑Village/Rules/Policies/Adopted/debt_bond_issuance
Resolutions authorizing the issuance of serial bonds, refunding bonds, and lines of credit to finance capital projects including water, sewer, highway equipment, and police vehicles.
In force, by year of last update
2026this year
Wastewater Treatment Plant Phase 2 Bond Authorization — Principal Amount
The Village is authorized to issue 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), 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 is $28,000,000.[16][18]
Wastewater Treatment Plant Phase 2 Bond — Period of Probable Usefulness
The period of probable usefulness for the wastewater treatment plant Phase 2 bond is forty (40) years. The proposed maturity of the bonds will exceed five (5) years.[16][18]
Wastewater Treatment Plant Phase 2 Bond — General Obligation Pledge
The wastewater treatment plant Phase 2 bonds and any bond anticipation notes 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. The faith and credit of the Village are irrevocably pledged to punctual payment.[16][18]
Wastewater Treatment Plant Phase 2 Bond — Grant Fund Application
It is expected that grant funds shall be received to pay a part of the cost of the wastewater treatment plant Phase 2 project. Any grant funds received or any other funds appropriated by the Village are authorized to be applied to the cost of said project, and the principal amount of bonds or notes issued shall be reduced by the amount of such other funds so appropriated and expended.[16][18]
Wastewater Treatment Plant Phase 2 Bond — Delegation to Village Treasurer
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 wastewater treatment plant Phase 2 bonds are delegated to the Village Treasurer, the chief fiscal officer of the Village.[16][18]
2025
Bond Counsel Appointment
Hawkins, Delafield & Wood LLP is appointed as Bond Counsel for the Village of Red Hook. The Mayor is authorized to sign the Bond Counsel Agreement with Hawkins, Delafield & Wood LLP for the wastewater project.[1][15][17]
2024
Water System Improvement Bond Authorization — Principal Amount
The Village is authorized to construct various improvements to the Village water system — including PFOA/PFOS removal, water storage upgrades, water system controls upgrades, replacement of certain water mains and lead services, and other related or ancillary work. The estimated maximum cost is $2,000,000, and bonds in the principal amount of $2,000,000 are authorized to be issued to finance said appropriation.[8][12][14]
Water System Improvement Bond — Period of Probable Usefulness
The period of probable usefulness for the water system improvement bond is forty (40) years. The proposed maturity of the bonds will exceed five (5) years.[8][12][14]
Water System Improvement Bond — General Obligation Pledge
The water system improvement bonds and any bond anticipation notes 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. The faith and credit of the Village are irrevocably pledged to punctual payment.[8][12][14]
Water System Improvement Bond — Grant Fund Application
Any grant funds received or any other funds appropriated by the Village for the water system improvement project are authorized to be applied to the cost of said project, and the principal amount of bonds or notes issued shall be reduced by the amount of such other funds so appropriated and expended.[12][14]
Water System Improvement Bond — Delegation to Village Treasurer
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 water system improvement bonds are delegated to the Village Treasurer, the chief fiscal officer of the Village.[8][12][14]
2023
Sewer System Refunding Bond Authorization
The Village is authorized to refund all or a portion of its outstanding $3,673,000 Sewer System Improvement Serial Bond-2023, with refunding bonds in a principal amount not to exceed $3,673,000 appropriated for such purpose. The refunding bonds shall be general obligations of the Village, payable by general tax upon all taxable real property, with the faith and credit of the Village irrevocably pledged to punctual payment.[13]
Sewer System Refunding Bond — Delegation to Village Treasurer
The powers and duties of the Board of Trustees relative to determining the amount of bonds to be refunded, prescribing the terms, form, and contents and as to the sale and issuance of the refunding bonds, and executing a tax certificate and Official Statement, are delegated to the Village Treasurer, the chief fiscal officer of the Village.[13]
Sewer System Refunding Bond — Escrow Arrangement
Prior to issuance of the refunding bonds, the Village may contract with a bank or trust company located and authorized to do business in New York State to act as Escrow Holder of the proceeds. All moneys held by the Escrow Holder, if invested, shall be invested only in direct obligations of the United States of America.[13]
2021
Sewer System Bond Authorization — Principal Amount
The Village is authorized to establish and construct a sewer system — including acquisition of an existing privately-owned wastewater treatment plant, expansion of the plant, construction of approximately 7,000 linear feet of collection pipes and 7,500 linear feet of lateral pipes, acquisition of easements, and original furnishings, equipment, machinery or apparatus. The estimated maximum cost is $8,500,000, and bonds in the principal amount of $8,500,000 are authorized to be issued to finance said appropriation.[4][10]
Sewer System Bond — Period of Probable Usefulness
The period of probable usefulness for the sewer system bond is forty (40) years. The proposed maturity of the bonds will exceed five (5) years.[4][10]
Sewer System Bond — General Obligation Pledge
The sewer system bonds and any bond anticipation notes issued in anticipation thereof 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. The faith and credit of the Village are irrevocably pledged to punctual payment.[4][10]
Sewer System Bond — Delegation to Village Treasurer
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 sewer system bonds are delegated to the Village Treasurer, the chief fiscal officer of the Village.[4][10]
Sewer System Bond — Grant Fund Application
Grants from EFC, NYS Water Grants Program, USDA Rural Development, and other sources are authorized to be applied toward sewer system project costs or bond redemption, and the principal amount of bonds or notes issued shall be reduced by the amount of such other funds so appropriated and expended.[10]
2020
Salisbury Bank Line of Credit — Principal Amount
The Village maintains a commercial line of credit from Salisbury Bank in the aggregate principal amount of $200,000 for interim funding of public improvements, vehicle/equipment purchases, and grant reimbursements. The faith and credit of the Village are pledged for the payment of principal and interest on the note.[3][7][9]
Salisbury Bank Line of Credit — Interest Rate
The interest rate on the Salisbury Bank line of credit is set at prime less 0.25%.[9]
Salisbury Bank Line of Credit — Purpose and Draw Procedure
The line of credit serves as a bridge loan for the time gap between payment by the Village and reimbursement by a grantor or internal budget lines. The specific purpose and amount utilized in any draw shall be stated in separate, specific resolutions when the need arises.[7][9]
Salisbury Bank Line of Credit — Signing Authority
The Mayor is authorized to sign the continuance note and any ancillary documents related to the line of credit. The Village Clerk is directed to attest and affix the corporate seal of the Village of Red Hook to such notes.[7][9]
2017
Plow Truck Bond Authorization — Principal Amount
The Village is authorized to acquire a plow truck at an estimated maximum cost of $173,355, financed by the issuance of bonds in the principal amount of not to exceed $173,355 pursuant to the Local Finance Law.[6]
Plow Truck Bond — Period of Probable Usefulness
The period of probable usefulness applicable to the plow truck acquisition is fifteen (15) years. The proposed maturity of the bonds will exceed five (5) years.[6]
Plow Truck Bond — General Obligation Pledge
The plow truck bonds and any bond anticipation notes 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. The faith and credit of the Village are irrevocably pledged to punctual payment.[6]
Plow Truck Bond — Delegation to Village Treasurer
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 plow truck bonds are delegated to the Village Treasurer, the chief fiscal officer of the Village.[6]
2012
Water Facility Improvement Bond Authorization
The Village is authorized to incur indebtedness by issuance of bonds in the principal amount of $1,242,000 for acquiring, constructing, enlarging, improving, and/or extending its water facility pursuant to the NYS Local Finance Law.[2]
History · superseded or expired
2025
Wastewater Treatment Plant Phase 2 Bond — Original Principal Amount ($20,000,000)
The February 10, 2025 bond resolution originally authorized bonds in a principal amount not to exceed $20,000,000 for wastewater treatment plant Phase 2 improvements. Superseded by the July 13, 2026 amendment increasing the authorized amount to $28,000,000.[16]
2022
Water System Improvement Bond — Amended Project Description (2022)
The November 14, 2022 amendment updated the project description to include PFOA/PFOS removal, construction of a booster pump station at the Town–Village interconnect, water storage upgrades, water system controls upgrades, and replacement of certain water mains and lead services, maintaining the $1,800,000 authorization. Superseded by the October 7, 2024 amendment increasing the cost to $2,000,000.[12]
2021
Police Vehicle Bond — 2020 Ford F-150 Responder XL
The Village authorized the purchase of a 2020 Ford F-150 Responder XL for the Police Department at a maximum cost of $46,900.16, financed by $40,000.00 in serial bonds (5-year maximum maturity) and $6,900.16 from the Village Reserve Fund. The 5-year bond term expired June 14, 2026.[11]
2019
Water System Improvement Bond — Original Project Description and Cost ($1,800,000)
The original August 28, 2019 bond resolution authorized $1,800,000 in bonds for installation of a carbon filtration system, reconditioning the elevated water tank on Tower Street, and insertion of a pumping station at the Town/Village inter-connect. The project description was amended in 2022 and the cost increased to $2,000,000 in 2024.[8]
2017
Salisbury Bank Line of Credit — Interest Rate 1.88%
The interest rate on the Salisbury Bank $200,000 line of credit was set at 1.88% for a two-year term. Superseded by the 2020 renewal setting the rate at prime less 0.25%.[5][7]
2016
Sewer System Bond Authorization — Original Principal Amount
The original bond resolution adopted June 13, 2016 authorized bonds in the principal amount of $4,900,000 for the sewer system project. Superseded by the April 1, 2021 amendment increasing the authorized amount to $8,500,000.[4]
2014
Well #15 Water Improvement Line of Credit — Salisbury Bank
The Village issued a $200,000 commercial line of credit from Salisbury Bank at 1.35% interest to provide interim funding for the Water Improvement Project (Well #15), bridging gaps between Village payments to contractors and CDBG reimbursement from Dutchess County Department of Planning. Superseded by subsequent Salisbury Bank line of credit renewals.[3]
2011
USDA-RD Water Improvement Loan — Preliminary Funding Terms
Preliminary USDA-RD funding approval was in the amount of $1.27 million at an interest rate of 2.25% for 38 years for the water improvement project. This was a preliminary approval referenced in the bond counsel selection resolution and has been superseded by the formal loan resolution (footnote 2).[1]
Source resolutions
  1. [1]2011-11-17Bond Council
  2. [2]2012-05-17Loan Resolution for Water Facility Improvements
  3. [3]2014-08-11Salisbury Bank and Trust Company – Line of Credit Note for Red Hook Village Water Improvement Project (Well #15)
  4. [4]2016-06-13Bond Resolution of the Village of Red Hook, New York, Authorizing the Establishment and Construction of a Sewer System
  5. [5]2016-10-17Salisbury Bank Line of Credit Renewal - Amended
  6. [6]2017-10-19Bond Resolution of the Village of Red Hook, New York, Adopted November 3, 2017, Authorizing the Acquisition of a Plow Truck, Stating the Estimated Maximum Cost Thereof is $173,355, Appropriating Said Amount for Such Purpose, and Authorizing the Issuance of Bonds in the Principal Amount of Not to Exceed $173,355 to Finance Said Appropriation
  7. [7]2017-11-13Salisbury Line of Credit renewal Resolution
  8. [8]2019-08-28BOND RESOLUTION OF THE VILLAGE OF RED HOOK, NEW YORK, ADOPTED AUGUST 28, 2019, AUTHORIZING VARIOUS IMPROVEMENTS TO THE VILLAGE WATER SYSTEM, STATING THE ESTIMATED TOTAL COST THEREOF IS $1,800,000, APPROPRIATING SAID AMOUNT FOR SUCH PURPOSE, AND AUTHORIZING THE ISSUANCE OF BONDS IN THE PRINCIPAL AMOUNT OF $1,800,000 TO FINANCE SAID APPROPRIATION
  9. [9]2020-10-13SALISBURY BANK LINE OF CREDIT RENEWAL – VILLAGE OF RED HOOK
  10. [10]2021-04-01BOND RESOLUTION OF THE VILLAGE OF RED HOOK, NEW YORK, ADOPTED JUNE 13, 2016 AND AMENDED APRIL 1, 2021, AUTHORIZING THE ESTABLISHMENT AND CONSTRUCTION OF A SEWER SYSTEM, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $8,500,000, APPROPRIATING SAID AMOUNT FOR SUCH PURPOSE, AND AUTHORIZING THE ISSUANCE OF BONDS IN THE PRINCIPAL AMOUNT OF $8,500,000 TO FINANCE SAID APPROPRIATION
  11. [11]2021-06-14BOND RESOLUTION DATED JUNE 14, 2021 — A RESOLUTION AUTHORIZING THE PURCHASE OF A 2020 FORD F-150 RESPONDER XL FOR THE VILLAGE OF RED HOOK, DUTCHESS COUNTY, NEW YORK, TO BE USED IN THE OPERATION OF ITS POLICE DEPARTMENT AT A MAXIMUM ESTIMATED COST OF $46,900.16, AND AUTHORIZING THE ISSUANCE OF $40,000.00, SERIAL BONDS OF SAID VILLAGE TO PAY A PORTION OF THE COST THEREOF
  12. [12]2022-11-14RESOLUTION OF THE VILLAGE OF RED HOOK, NEW YORK, ADOPTED NOVEMBER 14, 2022, AMENDING THE BOND RESOLUTION ADOPTED ON AUGUST 28, 2019, RELATING TO VARIOUS IMPROVEMENTS TO THE VILLAGE WATER SYSTEM
  13. [13]2023-11-02REFUNDING BOND RESOLUTION OF THE VILLAGE OF RED HOOK, NEW YORK, ADOPTED NOVEMBER 2, 2023, AUTHORIZING THE REFUNDING OF CERTAIN OUTSTANDING BONDS OF SAID VILLAGE, STATING THE PLAN OF REFUNDING, APPROPRIATING AN AMOUNT NOT TO EXCEED $3,673,000 FOR SUCH PURPOSE, AUTHORIZING THE ISSUANCE OF REFUNDING BONDS IN THE PRINCIPAL AMOUNT OF NOT TO EXCEED $3,673,000 TO FINANCE SAID APPROPRIATION, AND MAKING CERTAIN OTHER DETERMINATIONS RELATIVE THERETO
  14. [14]2024-10-07RESOLUTION OF THE VILLAGE OF RED HOOK, NEW YORK, ADOPTED OCTOBER 7, 2024, AMENDING THE BOND RESOLUTION ADOPTED ON AUGUST 28, 2019, AND HERETOFORE AMENDED ON NOVEMBER 14, 2022, RELATING TO VARIOUS IMPROVEMENTS TO THE VILLAGE WATER SYSTEM
  15. [15]2024-11-21Authorize Hawkins Delafield & Wood LLP engagement letter signature
  16. [16]2025-02-10Bond Resolution of the Village of Red Hook, New York, Adopted February 10, 2025, Authorizing the Issuance of Bonds in a Principal Amount Not to Exceed $20,000,000 to Finance the Construction of Improvements to the Village's Wastewater Treatment Plant (Phase 2), Stating the Estimated Maximum Cost Thereof is $20,000,000 and Appropriating Said Amount for Such Purpose
  17. [17]2025-11-24Bond Counsel Agreement with Hawkins, Delafield, & Wood LLP
  18. [18]2026-07-13RESOLUTION 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)

Synthesized from the chronological history of these resolutions. Each clause shows the year it was last established or amended. The text is a reading aid — for legal force, consult the source resolutions and the Village Code.