Bond Resolution



PLEASE  TAKE  NOTICE that  on April  17, 2024, the  Board  of Trustees  of the Village  of Great Neck  Plaza,  in the County  of Nassau, New York, adopted  a bond  resolution  entitled:


"Bond Resolution  of the Village  of Great Neck Plaza,New  York, adopted  April  17, 2024, authorizing the issuance of bonds in a principal amount  not to exceed $2,500,000 to finance the  construction of  parking  garage  improvements, stating   the  estimated   maximum   cost thereof  is $5,600,000; appropriating $2,500,000 in addition  to the $3,100,000 heretofore appropriated for such  purpose,''


an  abstract  of  such  bond  resolution,   concisely  stating  the  purpose  and  effect  thereof,   being  as follows:


FIRST:   AUTHORIZING the Village of Great Neck  Plaza, New York to issue bonds  in a principal amount  not to exceed  $2,500,000 pursuant to the Local Finance  Law of the State of New  York,  to finance the   construction   of   improvements  to   Village-owned   parking    garages,    including    security    camera enhancements;


SECOND:  STATING that  the estimated  maximum  cost  thereof, including  preliminary costs  and costs   incidental   thereto  and  the  financing thereof,   is $5,600,000;  appropriating said  amount   for  such purpose;  and  STATING that  the  plan  of financing includes  the  issuance  of $2,500,000 bonds  to finance said additional appropriation, in addition  to the $3, l 00,000  bonds heretofore authorized and issued pursuant to the bond resolutions adopted  by the Board of Trustees  on February  17, 2021  and November 3, 202!, and the  levy and collection  of taxes  on all the taxable  real property  in the  Village  to pay the principal  of said bonds and the interest thereon  as the same shall  become due and  payable;


THIRD:    DETERMINING and  STATING   the  period  of  probable   usefulness  applicable to  the purpose  for  which  said  bonds  are authorized to be issued  is twenty-five (25)  years;  the  proceeds  of said bonds and any bond anticipation notes issued in anticipation thereof  may be applied to reimburse the Village for expenditures made after the effective date of this bond resolution for the purpose  for which said bonds are authorized: and the proposed  maturity  of said bonds will exceed  five (5) years:


FOURTH:  DETERMINING that said bonds and any bond anticipation notes issued  in anticipation of said  bonds and the renewals  of said  bond anticipation  notes shall  be general  obligations of the Village: and PLEDGING to their  payment  the faith and credit of the Village:


FIFTH:   DELEGATING to the  Village  Treasurer  the  powers  and duties  as to the issuance  of said bonds,  and any bond anticipation notes  issued in anticipation of said  bonds, or the renewals  thereof;  and


SIXTH:  STATING the conditions under which the validity  of the bonds may be contested: and


SEVENTH:  DETERMINING that the bond resolution is subject to a permissive referendum.



DATED:   April  17, 2024      

Patricia  O'Byrne

Village  Clerk