Southtowns Record

2021-64-Bond-Resolution

Government
Town of Boston
Posted by publisher
Sep 30, 2026
Kind
Other
Topics
Water, sewer and drainage, Budget and taxes

Original document

Text · page 2 of 7

This document was a scan. Its text was produced by character recognition and may contain errors; check the original for exact wording.

RESOLVED  BY THE TOWN  BOARD  OF THE TOWN  OF BOSTON, IN THE

COUNTY  OF ERIE, NEW  YORK  (by the favorable vote of not less than two-thirds of all the

members of said Board) AS FOLLOWS:

  Section  1: The Town  hereby appropriates the amount of $11,058,000 for the

increase and improvement of facilities of the Districts in the Town in accordance with a lease

agreement between the Erie County Water Authority (“ECWA”) and the Town, and has caused

CPL Engineers, engineers duly licensed by the State of New York (the “Engineer’”) to prepare

the Map,  Plan  and Report  for the Town  of Boston  Water  System  Improvements  to Water

Districts No. 1 and 2 dated August 2020 and updated October 2021, consisting of improvements

to (i) the Water Main Replacement and Pump Station Improvements serving properties located

within Water District No.  1, at the estimated maximum  cost of $9,738,000; and (ii) Water Main

Replacement  Improvements  serving  properties  located  within  Water  District No.  2, at the

estimated maximum  cost of $1,320,000.  The total estimated maximum  cost thereof, including

preliminary costs and costs incidental thereto and the financing thereof, is $11,058,000. The plan

of  financing  includes  the  issuance  of  $11,058,000  bonds  of  the  Town  to  finance  said

appropriation, and the assessment, levy and collection of assessments on real property in the

Districts based on their respective assigned number of equivalent dwelling units (“EDU” each

unit being equivalent to usage by a single family home), to pay the principal of and interest on

said bonds with the expectation that any grant funds received by the Town from the State of New

York or the United States of America shall be used to pay a part of the cost of the project or to

pay debt service on bonds or notes issued to finance the project or shall be budgeted as an offset

to such assessments to be levied and collected.