A RESOLUTION AUTHORIZING THE ISSUANCE OF $7,858,250 SERIAL BONDS OF THE COUNTY OF DUTCHESS, NEW YORK, TO PAY A PORTION OF THE COST OF BRIDGE, CULVERT AND HIGHWAY IMPROVEMENTS IN AND FOR SAID COUNTY

PUBLIC WORKS & CAPITAL PROJECTS DISCUSSION ONLY 3/6/2025 RESOLUTION NO. 2025034 BOND RESOLUTION DATED APRIL 14, 2025 A RESOLUTION AUTHORIZING THE ISSUANCE OF $7,858,250 SERIAL BONDS OF THE COUNTY OF DUTCHESS, NEW YORK, TO PAY A PORTION OF THE COST OF BRIDGE, CULVERT AND HIGHWAY IMPROVEMENTS IN AND FOR SAID COUNTY WHEREAS, the environmental impact of the capital projects hereinafter described, as proposed, will be determined pursuant to the regulations of the New York State Department of Environmental Conservation promulgated pursuant to the State Environmental Quality Review Act, on a project-by-project basis prior to the financing thereof; and WHEREAS, it is now desired to authorize the financing of such capital projects; NOW, THEREFORE BE IT RESOLVED, by the County Legislature of the County of Dutchess, New York, as follows: Section 1. The cost of the reconstruction and replacement of bridges and culverts, and reconstruction of roads, in and for the County of Dutchess, New York, including the cost of a highway safety and drainage improvement program and other incidental improvements and expenses in connection therewith, is hereby authorized at a maximum estimated cost of $14,077,805. Section 2. It is hereby determined that the plan for the financing thereof is as follows: (a) by the issuance of the $7,858,250 serial bonds hereby authorized to be issued therefore pursuant to the provisions of the Local Finance Law; and (b) by the expenditure of $6,219,555 monies to be received from the State of New York as Consolidated Highway Improvement Program (CHIP), PaveNY, Extreme Winter Recovery and Pave Our Potholes aid monies, which monies are hereby appropriated therefor. Section 3. It is hereby determined that the period of probable usefulness of the aforesaid class of objects or purposes is 15 years, pursuant to subdivision 91 of paragraph (a) of Section 11.00 of the Local Finance Law, based upon subdivisions 4, 10, 20 and 21(a) thereof. Section 4. The faith and credit of said County of Dutchess, New York, are hereby irrevocably pledged for the payment of the principal of and interest on such bonds as the same respectively become due and payable. An annual appropriation shall be made in each year sufficient to pay the principal of and interest on such bonds becoming due and payable in such year. There shall annually be levied on all the taxable real property of said County a tax sufficient to pay the principal of and interest on such bonds as the same become due and payable. Section 5. Subject to the provisions of the Local Finance Law, the power to authorize the issuance of and to sell bond anticipation notes in anticipation of the issuance and sale of the serial bonds herein authorized, including renewals of such notes, is hereby delegated to the Commissioner of Finance, the chief fiscal officer. Such notes shail be of such terms, form and contents, and shall be sold in such manner, as may be prescribed by said Commissioner of Finance, consistent with the provisions of the Local Finance Law. Section 6. Such bonds shall be in fully registered form and shall be signed in the name of the County of Dutchess, New York, by the manual or facsimile signature of the Commissioner of Finance and a facsimile of its corporate seal shall be imprinted or impressed thereon and may be attested by the manual or facsimile signature of the County Clerk. Section 7. The powers and duties of advertising such bonds for sale, conducting the sale and awarding the bonds, are hereby delegated to the Commissioner of Finance, who shall -2- advertise such bonds for sale, conduct the sale, and award the bonds in such manner as she shall deem best for the interests of the County; provided, however, that in the exercise of these delegated powers, she shall comply fully with the provisions of the Local Finance Law and any order or rule of the State Comptroller applicable to the sale of municipal bonds. The receipt of the Commissioner of Finance shall be a full acquittance to the purchaser of such bonds, who shall not be obliged to see to the application of the purchase money. Section 8. All other matters, except as provided herein relating to such bonds including determining whether to issue such bonds having substantially level or declining annual debt service and all matters related thereto, prescribing whether manual or facsimile signatures shall appear on said bonds, prescribing the method for the recording of ownership of said bonds, appointing the fiscal agent or agents for said bonds, providing for the printing and delivery of said bonds and if said bonds are to be executed in the name of the County by the facsimile signature of the Commissioner of Finance, providing for the manual countersignature of a fiscal agent or of a designated official of the County, the date, denominations, maturities and interest payment dates, place or places of payment, and also including the consolidation with other issues, shall be determined by the Commissioner of Finance. It is hereby determined that it is to the financial advantage of the County not to impose and collect from registered owners of such serial bonds any charges for mailing, shipping and insuring bonds transferred or exchanged by the fiscal agent, and, accordingly, pursuant to paragraph c of Section 70.00 of the Local Finance Law, no such charges shall be so collected by the fiscal agent. Such bonds shall contain substantially the recital of validity clause provided for in section 52.00 of the Local Finance Law and shall otherwise be in such form and contain such recitals in addition to those required by section 52.00 of the Local Finance Law, as the Commissioner of Finance shall determine. -3- Section 9. This resolution shall constitute a statement of official intent for purposes of Treasury Regulations Section 1.150 - 2. Other than as specified in this resolution, no monies are, or are reasonably expected to be, reserved, allocated on a long-term basis, or otherwise set aside with respect to the permanent funding of the object or purpose described herein. Section 10. The validity of such bonds and bond anticipation notes may be contested only if: Such obligations are authorized for an object or purpose for which said County is not authorized to expend money, or 2) The provisions of law which should be complied with at the date of publication of this resolution are not substantially complied with, and an action, suit or proceeding contesting such validity is commenced within twenty days after the date of such publication, or 3) Such obligations are authorized in violation of the provisions of the Constitution. Section 11. This resolution, which takes effect immediately, shall be published in summary form in The Poughkeepsie Journal and the Southern Dutchess News, the official newspapers of said County, together with a notice of the Clerk of the County Legislature in substantially the form provided in Section 81.00 of the Local Finance Law. CA-030-25; CEB/rjw; G-0145-B; 2/13/2025 Fiscal Impact: See Attached -4- CERTIFICATION FORM STATE OF NEW YORK COUNTY OF DUTCHESS ) ss.: ) I, the undersigned Clerk of the County Legislature of the County of Dutchess, New York (the "Issuer"), DO HEREBY CERTIFY: That I have compared the annexed extract of the minutes of the meeting of the County Legislature of said County, including the resolution contained therein, held on April 14, 2025, with the original thereof on file in my office, and that the same is a true and correct transcript therefrom and of the whole of said original so far as the same relates to the subject matters therein referred to. I FURTHER CERTIFY that said County Legislature consists of 25 members; that the vote on the foregoing resolution was 21 ayes and 0 noes, with 4 members being absent or abstaining from voting. I FURTHER CERTIFY that the foregoing resolution as adopted by said County Legislature was duly approved by the County Executive of said County on April 21, 2025, in accordance with the provisions of Section 3.02 of the Dutchess County Charter. I FURTHER certify that all members of said Legislature had due notice of said meeting, and that, pursuant to Section 103 of the Public Officers Law (Open Meetings Law), said meeting was open to the general public, and that I duly caused a public notice of the time and place of said meeting to be given to the following newspapers and/or other news media as follows: Newspaper and/or other news media Date given Southern Dutchess News Poughkeepsie Journal April 11, 2025 April 11, 2025 and that I further duly caused public notice of the time and place of said meeting to be conspicuously posted in the following designated public location(s) on the following dates: Designated Location(s) of posted notice Date of Posting 22 Market Street, 6* Floor, County Office Building Poughkeepsie, NY 12601 April 11, 2025 IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the County Legislature this 15 day of April 2025. Susan APRONE Serena SUSAN J. SERINO COUNTY EXECUTIVE Dao. 4/21/2025 -2- Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 2025 DPW Highway and Bridge PRIN O/S PRIN PAYMENT $7,858,250 7,334,367 6,810,483 6,286,600 5,762,717 5,238,833 4,714,950 4,191,067 3,667,183 3,143,300 2,619,417 2,095,533 1,571,650 1,047,767 523,883 $523,883 523,883 523,883 523,883 523,883 523,883 523,883 523,883 523,883 523,883 523,883 523,883 523,883 523,883 523,883 TOTAL AVG. PER YEAR $7,858,250 $523,883 FISCAL IMPACT STATEMENT INTEREST $320,617 299,242 277,868 256,493 235,119 213,744 192,370 170,996 149,621 128,247 106,872 85,498 64,123 42,749 21,374 $2,564,933 $170,996 TOTAL PRINCIPAL $7,858,250 ANTICIPATED INTEREST RATE (1) TERM 15 YEARS ANTICIPATED FEES: ANTICIPATED ANNUAL COST (PRIN + INT): TOTAL PAYBACK (ANNUAL COST × TERMS): PREPARED BY HEIDI SEELBACH (Rate is subject to change based upon a) maket conditions at time of debt issuance and b) term of financing which is dependent upon the structuring of all debt issued when this project is ultimately financed. TOTAL $844,500 823,125 801,751 780,377 759,002 737,628 716,253 694,879 673,504 652,130 630,756 609,381 588,007 566,632 545,258 $10,423,183 $694,879 4.08% $77,804 $694,879 $10,423,183 APPROPRIATIONS Increase REVENUES Increase H0653 - 2025 Highway & Bridge Improvements H0653.5110.3250 Highway Improvements H0653.5110.3250.212 Highway Improvements - CHIPs H0653.5120.4401.105 Professional Services Consultants H0653.5120.3450 Bridge Improvements H0653.5120.3450.212 Bridge Improvements - CHIPs H0653.5110.3900 Bond Issuing costs H0653.5110.57100 Serial Bonds H0653.5110.35010.07 Consolidated Highway Aid County Roads H0653.5120.35010.07 Consolidated Highway Aid County Bridges $525,000 $3,050,000 $550,000 $6,705,445 $3,169,555 $77,805 $14,077,805 $7,858,250 $3,050,000 $3,169,555 $14,077,805 2025 Highway & Bridge Improvement Program The Department of Public Works Highway Management Divisions (Engineering and Highway Construction & Maintenance) conduct a Capital Highway and Bridge Improvement Program each year. The program goal is to maintain, repair and improve our County transportation system, which includes 172 bridges, 203 large drainage culverts, and 395 centerline miles of roads. The highway system also includes associated storm water drainage systems (pipes, catch basins and ditches), 44 traffic control signals or beacons, and other safety devices (signs, guide rail, pavement markings, etc.). Planned programs for 2025 include: Pavement Management Program, Bridge and Culvert Improvement Program, and Highway, Safety and Drainage Improvement Program. The total cost for projects included in this request is estimated at $14,000,000. The County expects to receive approximately $3,928, 137 in Consolidated Highway Improvement Programs (CHIP) funds, $1,031,053 PaveNY funds, $572,996 Extreme Winter Recovery (EWR) funds and $687,369 Pave Our Potholes (POP) funds from New York State that will offset 2025 capital project costs. Based on estimated project costs and anticipated offsets from New York State aid, the net 2025 request is $7,780,445. Summary Breakdown of Request: Estimated Program Program Description Amount $2,500,000 | Pavement Management Program $10,425,000 Bridge and Culvert Improvement Program $1,075,000 Highway, Safety and Drainage Improvement Program $14,000,000 Estimated Total 2025 Projects Cost ($3,928,137) Estimated 2025 CHIPs Revenue (NYS) ($1,031,053) | Estimated 2025 PaveNY Revenue (NYS) ($572,996) Estimated 2025 Extreme Winter Recovery (EWR) Revenue (NYS) ($687,369) Estimated 2025 Pave Our Potholes (POP) Revenue (NYS) $7,780,445 2025 Net Request (Bond costs not included) Page 1 of 4 Pavement Management Program The 2025 Pavement Management program involves resurfacing or reconstruction of approximately 15 centerline miles of County highways using both contractors and County forces. Special surface treatments, developed to extend pavement life, may be performed by contractors with the necessary equipment and expertise. Work necessary to prepare the highways for resurfacing or reconstruction, such as culvert pipe replacement, ditch and drainage system repairs and localized surface repairs are included within the scope of this program. In addition, replacement of pavement markings is included within this program. All such work is eligible for CHIPS funding. The estimate for current year funding of this project is $2,500,000. PaveNY, EWR, CHIPS and POP funding will be used to offset this program. Bridge & Culvert Improvement Program Bridge RH-17, Mill Road over the Sawkill, Town of Red Hook. This bridge consists of a through-girder superstructure and open grate steel deck. The steel superstructure is deteriorating, and the bridge is currently load posted for 24 tons. The bridge was built in 1940 and has a condition rating of 4. Plans and specifications will be prepared by consultants. Design and right-of-way acquisition is estimated at $275,000. The project will be bid for construction in Fall 2027. The current request is for $275,000. Bridge S-13 Replacement, CR 53 (Cold Spring Road) over Wappinger Creek, Town of Stanford. The bridge consists of two metal pipes and stone retaining walls and foundation. This structure has scour and deterioration of the stone structures. This bridge was constructed in 1955 and has a general rating of 4. Plans and specifications are being prepared by consultants. Construction will be performed by contracted services and construction inspection will be performed by consultants. Design and right-of-way acquisition was funded in 2023. The project will be bid for construction in Spring 2025. Construction is estimated at $2,250,000 and construction inspection at $250,000. The current request is for $2,500,000. Bridge WP-34 Replacement, CR 110 (Jackson Road) over Greens Pond Outlet, Town of Wappinger. This bridge consists of three large diameter metal pipes that show signs of oxidation and loss of invert material. The bridge was built in 1969 and has a condition rating of 4. Plans and specifications are being prepared by consultants. Construction will be performed by contracted services and construction inspection will be performed by consultants. Design and right-of- way acquisition was funded in 2023. The project will be bid for construction in Fall 2025. Construction is estimated at $2,800,000 and construction inspection at $300,000. The current request is for $3, 100,000. Culvert U-12 Replacement, CR 9 (North Clove Road) over unnamed creek, Town of Union Vale. This culvert consists of two 48" corrugated steel metal pipes with significant corrosion of the inverts. The culvert has a condition rating of 4. Plans Page 2 of 4 and specifications will be prepared by in-house staff. The project will be bid for construction in Fall of 2026. Specialty consultants and right-of-way costs are estimated at $62,500. Construction is planned for 2027. The current request is for $62,500. Culvert U-13 Replacement, CR 9 (North Clove Rd) over Clove Valley Creek, Town of Union Vale. This culvert is a jack arch structure with deterioration of the steel beams and concrete headwalls. The culvert has a condition rating of 3. Plans and specifications will be prepared by in-house staff. The project will be bid for construction in Fall of 2026. Specialty consultants and right-of-way costs are estimated at $62,500. Construction is planned for 2027. The current request is for $62,500. Culvert W-18 Replacement, CR 98 (N. Mabbetsville Rd) over unnamed creek, Town of Washington. This culvert consists of steel beams with a concrete slab. The steel beams show significant deterioration. The culvert has a condition rating of 3. Plans and specifications will be prepared by in-house staff. The project will bid for construction in Fall of 2026. Specialty consultants and right-of-way costs are estimated at $75,000. Construction is planned for 2027. The current request is for $75,000. Culvert U-51 Replacement, CR 90 (Camby Rd) over unnamed creek, Town of Union Vale. This culvert is a 48" corrugated metal pipe with failing gabion headwalls and corrosion of the pipe. The culvert has a condition rating of 4. Plans and specifications will be prepared by in-house staff. Specialty consultants and right-of-way costs are estimated at $75,000. Construction is planned for 2027. The current request is for $75,000. Culverts D-6 and D-7 Replacement, CR 23 (Chestnut Ridge Rd) over unnamed creek, and CR 24 (Chestnut Ridge Rd) over unnamed creek, Town of Dover. Culvert D-6 is a 9-foot span concrete structure that is showing advanced deterioration. The culvert has a condition rating of 4. Culvert D-7 is a 10-foot span concrete structure with a metal pipe extension of unknown date. The structure is in poor condition with scour related issues. D-7 has a condition rating of 3. The culverts both carry the same water course and are within approximately 500' of each other. Plans and specifications for both structures are being prepared by in-house staff. Design and right-of-way acquisition was funded in 2023. The project will be bid for construction in Fall 2025 for construction in spring of 2026. Construction is estimated at $1,750,000 and construction inspection at $250,000. The current request is for $2,000,000. Culverts PA-37 and PA-40 Replacement, CR 69 (Harmony Hill Road) over unnamed creek, Town of Pawling. Culvert PA-37 is a 6.5-foot span concrete and I-Beam structure that is in poor condition. The superstructure beams, deck and abutments are beginning to deteriorate. The culvert has a condition rating of 4. Culvert PA-40 is a 6-foot span concrete and I-Beam structure that is also in poor condition. PA-40 has a condition rating of 3. The design was funded in 2023. Construction is estimated to cost $1,500,000 and construction inspection is estimated to cost $250,000. The project is anticipated to be bid in Fall 2025 for construction in summer of 2026. The current request is for $1,750,000. Page 3 of 4 Culvert M-29 Replacement, CR 52 (Round Lake Rd) over unnamed creek, Town of Milan. Culvert M-29 is a 6-toot diameter metal pipe. The culvert shows deterioration and perforation of the invert. The culvert has a condition rating of 4. Plans and specifications are being prepared by in-house staff. Design and right- of-way acquisition was funded in 2023. The project will be bid for construction in Fall 2025 for construction in spring of 2026. Construction is estimated at $400,000 and construction inspection at $125,000. The current request is for $525,000. Highway Safety and Drainage Improvement Program Traffic Signal Installation, Towns of Wappinger. This project will install a new traffic signal at the intersection of CR 93 (Meyers Corners Road) and Spook Hill Road. Plans and specifications are being prepared by consultants. Construction will be performed by contracted services and construction inspection will be performed by consultants. Design and right-of-way acquisition was funded in 2023. The project will be bid for construction in late 2025. Construction is estimated at $400,000 and construction inspection at $125,000. The current request is for $525,000. Miscellaneous Drainage, Safety and Parking Lot Improvements, County-wide. This request is to fund capital repairs to culverts, large pipes, and drainage systems as necessary. These projects may also include repairs to parking lots and other safety-related improvements. Severe weather, unforeseen damage and unanticipated repair needs require the Department to maintain the ability to expend funds on capital projects to keep the transportation system safe and operational. The current request includes $250,000. Guide Rail/Bridge Rail Installation, Repair or Replacement, County-wide. This request is to fund installation, repair or replacement of highway guide rail or bridge rail at various locations throughout the county road system. The current request includes $300,000. Note: Estimates for individual projects are approximate based on current information. Some projects may actually come in lower or higher than estimated; however, the cost for all projects combined will be within the total $14.0 million. Page 4 of 4 The foregoing Resolution No. 2025034, A RESOLUTION AUTHORIZING THE ISSUANCE OF $7,858,250 SERIAL BONDS OF THE COUNTY OF DUTCHESS, NEW YORK, TO PAY A PORTION OF THE COST OF BRIDGE, CULVERT AND HIGHWAY IMPROVEMENTS IN AND FOR SAID COUNTY was offered for discussion only at the March 6, 2025, Public Works & Capital Projects Committee meeting, and considered at the April 14, 2025, Board Meeting. Roll call vote at that time resulted as follows: AYES: 21 Atkins, Brendli, Caswell, D'Aquanni, Drago, Faust, Garito, Gorman, Houston, Johnson, Kaul, Kearney, Lawler, Metzger, Munn, Paoloni, Polasek, Rolison, Travelpiece, Truitt, and Valdés Smith NAYS: ABSENT: 4 Resolution adopted. House, McHoul, Page, and Versaci Public Works and Capital Projects Roll Call District Name District 7 - Hyde Park and Pleasant Valley Truitt* District 25 - Amenia, Washington, Pleasant Valley & Millbrook Houston* District 3 - LaGrange Polasek* District 16 - Fishkill and Beacon Valdés Smith* District 9 - City of Poughkeepsie Atkins* District 1 - Town of Poughkeepsie Gorman District 10 - City of Poughkeepsie Johnson (VC) District 12 - East Fishkill Metzger (C) District 13 - East Fishkill and Wappinger Paoloni District 15 - Wappinger Faust District 20 - Red Hook, Tivoli, and Rhinebeck Munn District 23 - Pawling, Beekman and East Fishkill Rolison Present: Absent: Vacant: 10 2 Resolution: Motion: Total: Abstentions: Yes No Ahment Absent 10 Yes O No 2025034 A RESOLUTION AUTHORIZING THE ISSUANCE OF $7,858,250 SERIAL BONDS OF THE COUNTY OF DUTCHESS, NEW YORK, TO PAY A PORTION OF THE COST OF BRIDGE, CULVERT AND HIGHWAY IMPROVEMENTS IN AND FOR SAID COUNTY APRIL 10, 2025 Roll Call Sheets District Present: Absent: Vacant: Last Name YES NO District 7 - Hyde Park and Pleasant Valley Truitt District 25 - Amenia, Washington, Pleasant Valley & Millbrook District 3 - LaGrange District 16 - Fishkill and Beacon District 9 - City of Poughkeepsie District 1 - Town of Poughkeepsie District 2 - LaGrange, Pleasant Valley & Town of Poughkeepsie District 4 - Hyde Park and Town of Poughkeepsie District 5 - Town of Poughkeepsie District 6 - Town of Poughkeepsie District 8 - City and Town of Poughkeepsie District 10 - City of Poughkeepsie District 11 - Clinton, Pleasant Valley, and Rhinebeck District 12 - East Fishkill District 13 - East Fishkill and Wappinger District 14 - Wappinger and Town of Poughkeepsie District 15 - Wappinger District 17 - Town and Village of Fishkill District 18 - City of Beacon and Fishkill District 19 - North East, Stanford, Pine Plains, Milan & Red Hook District 20 - Red Hook, Tivoli, and Rhinebeck District 21 - East Fishkill District 22 - Beekman and Union Vale District 23 - Pawling, Beekman and East Fishkill 21 District 24- Dover and Pawling Resolution:_ Motion: Houston Polasek Valdés Smith Atkins Gorman Travelpiece Lawler D'Aquanni Kaul Brendli Johnson Kearney Metzger Paoloni Versaci absent: Faust McHoul Page Absent absent Drago Munn Caswell Garito Rolison House Total : absent Yes No Abstentions: O 2025034 A RESOLUTION AUTHORIZING THE ISSUANCE OF $7,858,250 SERIAL BONDS OF THE COUNTY OF DUTCHESS, NEW YORK, TO PAY A PORTION OF THE COST OF BRIDGE, CULVERT AND HIGHWAY IMPROVEMENTS IN AND FOR SAID COUNTY APRIL 14, 2025