SPECIAL ORDINANCE
BY COUNCIL PRESIDENT COLLINS-BELLAMY, MAJORITY LEADER RUBBO, MAJORITY WHIP NORMAN, MINORITY LEADER BREEN, COUNCILMEMBERS, PINEDA-ISAAC, DIAZ AND HODGES:
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BOND ORDINANCE OF THE CITY OF YONKERS, NEW YORK, AUTHORIZING THE PAYMENT OF VARIOUS TAX CERTIORARI JUDGMENTS, COMPROMISED CLAIMS AND SETTLED CLAIMS APPROVED BY THE CITY COUNCIL DURING FISCAL YEAR 2026-2027, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $15,000,000, APPROPRIATING SAID AMOUNT THEREFOR, AND AUTHORIZING THE ISSUANCE OF BONDS OF SAID CITY IN THE PRINCIPAL AMOUNT OF NOT TO EXCEED $15,000,000 TO FINANCE SAID APPROPRIATION
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THE CITY COUNCIL OF THE CITY OF YONKERS, IN THE COUNTY OF WESTCHESTER, NEW YORK, HEREBY ORDAINS (by the favorable vote of not less than two-thirds of all the members of said City Council) AS FOLLOWS:
Section 1. The City of Yonkers, in the County of Westchester, New York (herein called “City”), is hereby authorized to pay various tax certiorari judgments, compromised claims and settled claims against the City, approved by the City Council during Fiscal Year 2026-2027. The estimated maximum cost of said class of objects or purposes, including preliminary costs and costs incidental thereto and the financing thereof, is $15,000,000, and said amount is hereby appropriated therefor pursuant to the City’s Budget for Fiscal Year 2026-2027. The plan of financing includes the issuance of $15,000,000 bonds of the City to finance said appropriation, and the levy and collection of taxes on all the taxable real property in the City to pay the principal of said bonds and the interest thereon as the same shall become due and payable.
Section 2. Bonds of the City in the principal amount of $15,000,000 are hereby authorized to be issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York (herein called the “Law”), to finance said appropriation.
Section 3. The period of probable usefulness of sai...
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