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Hicksville Water District

TOWN OF OYSTER BAY PUBLIC HEARING NOTICE – 12/12/17

NOTICE OF PUBLIC HEARING

PLEASE TAKE NOTICE that the Town Board of the Town of Oyster Bay, Nassau  County, New York, will meet at the Town Hall, 54 Audrey Avenue, Oyster Bay, New York, in said Town, on December 12, 2017, at 10:00 A.M., Prevailing Time, for the purpose of conducting public hearings to consider petitions by the Hicksville Water District in said Town, for authorization to issue up to $9,200,000 refunding bonds to refund, in whole or in part, the outstanding portion of the District’s $13,000,000 Water District (Serial) Bonds, 2011 and to issue up to $21,445,000 bonds for the District’s 2017 Capital Improvement Program, which Program constitutes an increase and improvement of the facilities of Hicksville Water District within the meaning of Section 202-b of the Town Law, with an estimated maximum cost of $21,445,000.  Of said $9,200,000 bonds, $8,565,200 bonds would be chargeable against properties in the Hicksville Water District that are also in the Town of Oyster Bay, and of said $21,445,000 bonds, $19,965,295 bonds would be chargeable against properties in the Hicksville Water District that are also in the Town of Oyster Bay.  The certificate of the Town Supervisor prepared pursuant to Section 102.00 of the Local Finance Law is reproduced below.

CERTIFICATE OF THE TOWN SUPERVISOR OF THE TOWN OF OYSTER BAY, NASSAU COUNTY, NEW YORK, DATED NOVEMBER 28, 2017, IN RESPONSE TO PETITIONS BY THE HICKSVILLE WATER DISTRICT FOR AUTHORIZATION TO ISSUE REFUNDING BONDS TO REFUND  THE DISTRICT’S $13,000,000 WATER DISTRICT (SERIAL) BONDS, 2011 AND TO ISSUE UP TO $21,445,000 BONDS FOR THE DISTRICT’S 2017 CAPITAL IMPROVEMENT PROGRAM

1.       The average full valuation of the Town of Oyster Bay is $55,377,484,230. The most recent assessed valuation of the Town is $143,981,459. The average full valuation of the real property in the Town subject to the levy of taxes or benefit assessments by or on behalf of the Hicksville Water District is $6,749,082,307. The most recent assessed valuation of the real property in the Town subject to the levy of taxes or benefit assessments by or on behalf of the District is $17,547,614.

2.       The debt of the Town, prepared in accordance with Title 10 of Article 2 of the Local Finance Law, as of a date not more than thirty days previous to the date of this certificate, is $ 771,670,000.

3.       The amounts of indebtedness proposed to be contracted by the District is $9,200,000, in the case of the refunding, and $21,445,000, in the case of the District’s 2017 Capital Improvement Program. The proportionate amounts of indebtedness which would be allocated to the Town pursuant to the procedures set forth in Section 120.00 of the Local Finance Law is 93.10% of such proposed indebtedness, or $8,565,200 and $19,965,295, for the refunding and the District’s 2008-2013 Capital Improvement Program, respectively.  The amounts of $8,565,200 and $19,965,295 are 0.01547% and 0.03605%, respectively, of the average full valuation of the Town of Oyster Bay, and 0.12691% and 0.29582%, respectively, of the average full value of the real property in the Town subject to the levy of taxes or benefit assessments by or on behalf of the Hicksville Water District.

Dated:        Oyster Bay, New York

November 28, 2017

BY ORDER OF THE TOWN BOARD

OF THE TOWN OF OYSTER BAY,

NASSAU  COUNTY, NEW YORK

James Altadonna, Jr.

Town Clerk

 

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