Subject to Permissive Referendum

LEGAL NOTICE

PERMISSIVE REFERENDUM

TOWN OF NEWSTEAD, NY

WHEREAS, the Town Board of the Town of Newstead has determined that a new Multi-Cultural / Senior Center facility should be considered to support the needs of the community; and

WHEREAS, the Town Board would like to be able to fund such a project and will pursue grant funding for such purpose; and

WHEREAS, rather than do nothing until receipt of such funding, the Town Board has determined that it would be in the best interest of the Town to establish a Capital Reserve Fund for a Multi-Cultural / Senior Center to help fund the project; and

WHEREAS, the Town Board has been advised by the Auditors for the Town that to comply with the requirements of the New York State Department of Audit and Control such funds should be set aside in a capital account reserved specifically for such purposes.

NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:

That the Town Board does hereby establish a Capital Reserve Fund for a Multi-Cultural / Senior Center in the Town of Newstead.

2.     This resolution shall be subject to permissive referendum.

3.     The Town Clerk is directed to publish a copy of this resolution in the Akron Bugle and a post a copy of this resolution on the sign board of the Town within 10 days following the adoption of this resolution.

The above resolution was duly put to a roll call vote at a regular meeting of the Town Board held on August 24, 2020 and Carried by a Unanimous vote of the Board.

Dawn D. Izydorczak, RMC

Town Clerk