A RESOLUTION AUTHORIZING THE ISSUANCE OF $2,360,370 SERIAL BONDS OF THE COUNTY OF DUTCHESS, NEW YORK, TO PAY THE COST OF THE PURCHASE OF EQUIPMENT FOR VARIOUS DEPARTMENTS, IN AND FOR SAID COUNTY

PUBLIC WORKS AND CAPITAL PROJECTS DISCUSSION ONLY 8/8/2024 RESOLUTION NO. 2024147 BOND RESOLUTION DATED SEPTEMBER 9, 2024. A RESOLUTION AUTHORIZING THE ISSUANCE OF $2,360,370 SERIAL BONDS OF THE COUNTY OF DUTCHESS, NEW YORK, TO PAY THE COST OF THE PURCHASE OF EQUIPMENT FOR VARIOUS DEPARTMENTS, IN AND FOR SAID COUNTY WHEREAS, the capital project hereinafter described, as proposed, has been determined to be a Type II Action pursuant to the regulations of the New York State Department of Environmental Conservation promulgated pursuant to the State Environmental Quality Review Act, which regulations state that Type II Actions will not have a significant effect on the environment; and WHEREAS, it is now desired to authorize the financing of such capital project; NOW, THEREFORE BE IT RESOLVED, by the County Legislature of the County of Dutchess, New York, as follows: Section 1. The purchase of equipment for construction, maintenance and snow removal, each item of which costs $30,000 or over, for various departments, including incidental equipment and expenses in connection therewith, is hereby authorized at a maximum estimated cost of $2,360,370. Section 2 It is hereby determined that the plan for the financing of the aforesaid maximum estimated cost is by the issuance of $2,360,370 bonds of the County hereby authorized to be issued therefor pursuant to the provisions of the Local Finance Law. 4132-6299-7073.1 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 bonds herein authorized, including renewals of such notes, is hereby delegated to the Commissioner of Finance, the chief fiscal officer. Such notes shall 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 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 -2- 4132-6299-7073.1 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. 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. -3- 4132-6299-7073.1 Section 10. The validity of such bonds and bond anticipation notes may be contested only if: 1) Such obligations are authorized for an object or purpose for which said County is not authorized to expend money, or 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 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-080-24 AMS/rjw G-0145-B 7/16/24 Fiscal Impact: See Attached. -4- 4132-6299-7073.1 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 September 9, 2024, 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 22 ayes and 0 noes, with 3 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 September 16, 2024, 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: 4132-6299-7073.1 Newspaper and/or other news media Date given Southern Dutchess News Poughkeepsie Journal September 6, 2024 September 6, 2024 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 September 6, 2024 IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the County Legislature this 10 day of September, 2024. Clerk, County Legislature APPROVED Susun Serino SUSAN J. SERINO COUNTY EXECUTIVE Dess 9-lle- 2024 4132-6299-7073.1 -2- Year 1 2 3 4 5 6 7 8 10 11 12 13 14 15 PRIN O/S $2,360,370 2,203,012 2,045,654 1,888,296 1,730,938 1,573,580 1,416,222 1,258,864 1,101,506 944,148 786,790 629,432 472,074 314,716 157,358 2024 Capital Equipment PRIN PAYMENT $157,358 157,358 157,358 157,358 157,358 157,358 157,358 157,358 157,358 157,358 157,358 157,358 157,358 157,358 157,358 INTEREST $89,458 83,494 77,530 71,566 65,603 59,639 53,675 47,711 41,747 35,783 29,819 23,855 17,892 11,928 5,964 TOTAL AVG. PER YEAR $2,360,370 $157,358 $715,664 $47,711 FISCAL IMPACT STATEMENT TOTAL PRINCIPAL $2,360,370 ANTICIPATED INTEREST RATE (1) TERM 15 YEARS ANTICIPATED FEES: ANTICIPATED ANNUAL COST (PRIN + INT): TOTAL PAYBACK (ANNUAL COST x TERMS): PREPARED BY HEIDI SEELBACH ' Rate is subject to change based upon a) maket conditions at time of debt issuance and b) term of financir hich is dependent upon the structuring of all debt issued when this project is ultimately finance TOTAL $246,816 240,852 234,888 228,924 222,961 216,997 211,033 205,069 199,105 193,141 187,177 181,213 175,250 169,286 163,322 $3,076,034 $205,069 3.79% $23,370 $205,069 $3,076,034 Qty to Purchase [Equipment Description 1 Gang Truck Sector Truck w/Plow 4x6 Sander/Plow Truck 1 1 Front End Loader Road-side Mower 316 Trac Excavator/Tilt 1 Rotator/2 Buckets Cat 308 Excavator 1 w/Attachments Tractor w/16' Gang Arm Ventrac 1 1 Skid Steer Track Mower UTV w/Attachments Skid Steer Loader w/Attachments 20' Tilt Deck Trailer I DUTCHESS COUNTY DEPARTMENT OF PUBLIC WORKS 2024 CAPITAL EQUIPMENT REQUESTS Division: H=Highway A= Airport P= Parks B= Buildings s=Sheriff H H H H H H H P P P B S S Unit price $ 170,000.00 $ 105,000.00 $ 315,000.00 $ 280,000.00 $ 125,000.00 $ 275,000.00 $ 175,000.00 $ 140,000.00 $75,000.00 $120,000.00 $75,000.00 $ 135,000.00 $ 32,000.00 $ $ $ $ $ Total Cost 170,000.00 105,000.00 630,000.00 280,000.00 125,000.00 Useful Life (yrs) 10 5 $ 275,000.00 15 10 15 $ 175,000.00 40.000.0 75,000000 10 5 $ 120,000.00 75,000.00 10 5 $ $ $ 135,000.00 32,000.00 2,337,000.00 10 Replacement Notes: Replacement Replacement Replacement Replacement Replacement Replace HE-1 Replace Bobcat New - Snow Removal New- Snow Removal Replace ID# 4516 ASV Posi Track Loader New- Snow Removal New- Snow Removal New - Misc Equip transport Total for 2024 APPROPRIATIONS Increase H0641.1620.2400.05 H0641.7110.2400.05 H0641.7110.2400.10 H0641.5110.2400.05 H0641.5110.2400.10 H0641.5110.2400.15 H0641.3110.2400.10 H0641.5110.3900 REVENUES Increase H0641.5110.57100 H0641 -2024 Capital Equipment Highway and Street Equipment - 5 year Highway and Street Equipment - 5 year Highway and Street Equipment - 10 year Highway and Street Equipment - 5 year Highway and Street Equipment - 10 year Highway and Street Equipment - 15 year Highway and Street Equipment - 10 year Serial Bonds $ 75,000 $ 75,000 $ 260,000 $ 105,000 $ 470,000 $ 1,185,000 $ 167,000 $ 23,370 $ 2,360,370 $ 2,360,370 $ 2,360,370 Resolution No. 2024147, A RESOLUTION AUTHORIZING THE ISSUANCE OF $2,360,370 SERIAL BONDS OF THE COUNTY OF DUTCHESS, NEW YORK, TO PAY THE COST OF THE PURCHASE OF EQUIPMENT FOR VARIOUS DEPARTMENTS, IN AND FOR SAID COUNTY, was offered for discussion only at the August 8, 2024, Public Works and Capital Projects Committee Meeting, and considered at the September 9, 2024, Board Meeting. Roll call vote at that time resulted as follows: AYES: 22 Brendli, Caswell, D'Aquanni, Drago, Faust, Garito, Gorman, Houston, Johnson, Kaul, Kearney, Lawler, McHoul, Metzger, Munn, Paoloni, Polasek, Rolison, Travelpiece, Truitt, Valdés Smith, and Versaci NAYS: ABSENT: 3 Resolution adopted. Atkins, House, and Page 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: 10 Resolution: Motion: Total: Abstentions: Vacant: Yes No Absent absent 10 No 2024147 A RESOLUTION AUTHORIZING THE ISSUANCE OF $2,360,370 SERIAL BONDS OF THE COUNTY OF DUTCHESS, NEW YORK, TO PAY THE COST OF THE PURCHASE OF EQUIPMENT FOR VARIOUS DEPARTMENTS, IN AND FOR SAID COUNTY SEPTEMBER 5, 2024 Roll Call Sheets District Present: Absent: Vacant: District 7- Hyde Park and Pleasant Valley 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 District 24 - Dover and Pawling 22 3 Resolution: _ Motion: Last Name YES, NO Truitt Houston Polasek Valdés Smith Atkins absent Gorman Travelpiece Lawler D'Aquanni Kaul Brendli Johnson Kearney Metzger Paoloni Versaci Faust McHoul Page Absent Drago Munn Caswell Garito Rolison House Total : Absent Yes Abstentions: 0 No 2024147 A RESOLUTION AUTHORIZING THE ISSUANCE OF $2,360,370 SERIAL BONDS OF THE COUNTY OF DUTCHESS, NEW YORK, TO PAY THE COST OF THE PURCHASE OF EQUIPMENT FOR VARIOUS DEPARTMENTS, IN AND FOR SAID COUNTY SEPTEMBER 9, 2024