SPECIAL ORDINANCE: -2026
BY COUNCIL PRESIDENT COLLINS-BELLAMY, MAJORITY LEADER RUBBO, MAJORITY WHIP NORMAN, MINORITY LEADER BREEN, COUNCILMEMBERS, PINEDA-ISAAC, DIAZ AND HODGES:
BOND ORDINANCE OF THE CITY OF YONKERS, NEW YORK AUTHORIZING THE ACQUISITION OF BOOKS AND EQUIPMENT FOR USE BY THE BOARD OF EDUCATION; STATING THE ESTIMATED MAXIMUM COST THEREOF IS $6,500,000; APPROPRIATING SAID AMOUNT THEREFOR; AND AUTHORIZING THE ISSUANCE OF BONDS OF SAID CITY IN THE PRINCIPAL AMOUNT OF NOT TO EXCEED $6,500,000 TO FINANCE SAID APPROPRIATION 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 the "City"), is hereby authorized to finance the cost of the acquisition of books and equipment for use by the Board of Education. The estimated maximum cost thereof, including preliminary costs and costs incidental thereto and the financing thereof, is $6,500,000 and said amount is hereby appropriated therefor. The plan of financing includes the issuance of not to exceed $6,500,000 bonds of the City and any bond anticipation notes issued in anticipation of the sale of such bonds 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 and interest on said bonds and notes as the same shall become due and payable. Any grant funds or other amounts received by the Board of Education from the United States of America and/or the State of New York or any other source with respect to the projects are hereby authorized to be expended towards the cost of the applicable object or purpose or the redemption of any bonds or notes issued therefor or to be budgeted as an offset to the taxes for the repayment of the principal of and interest on said bonds or notes.
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