The resolution, a summary of which is published herewith, has been adopted on February 11, 2020 and the validity of the obligations authorized by such resolution may be hereafter contested only if such obligations were authorized for an object or purpose for which the Town of Southold, in the County of Suffolk, New York, is not authorized to expend money or if the provisions of law which should have been complied with as of the date of publication of this Notice were not substantially complied with, and an action, suit or proceeding contesting such validity is commenced within twenty days after the publication of this Notice, or such obligations were authorized in violation of the provisions of the constitution.
LYNDA M. RUDDER
Deputy Town Clerk
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED FEBRUARY 11, 2020, AUTHORIZING THE ACQUISITION AND INSTALLATION OF SOFTWARE UPGRADES, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $500,000, APPROPRIATING SAID AMOUNT FOR SUCH PURPOSE, AND AUTHORIZING THE ISSUANCE OF BONDS IN THE PRINCIPAL AMOUNT OF NOT TO EXCEED $500,000 TO FINANCE SAID APPROPRIATION
The object or purpose for which the bonds are authorized is to acquire and install software upgrades at the estimated cost of $500,000.
The maximum amount of obligations authorized to be issued is $500,000.
The period of probable usefulness is five (5) years.
A complete copy of the bond resolution summarized above shall be available for public inspection during normal business hours at the office of the Deputy Town Clerk, at the Town Hall, 53095 Main Street, Southold, New York.