The ordinance, a summary of which is published herewith, has been adopted on June 4, 2024, and
approved by the Mayor on June 11, 2024, and the validity of the obligations authorized by such
ordinance may be hereafter contested only if such obligations were authorized for an object or
purpose for which the CITY OF YONKERS, in the County of Westchester, New York, is not
authorized to expend money or if the provisions of law which should have been complied with as of
the date of publication of this Notice were not substantially complied with, and an action, suit or
proceeding contesting such validity is commenced within twenty days after the publication of this
Notice, or such obligations were authorized in violation of the provisions of the constitution.
Vincent E. Spano, City Clerk
City of Yonkers, New York
SPECIAL ORDINANCE NO.36-2024
BOND ORDINANCE OF THE CITY OF YONKERS, NEW YORK
AUTHORIZING FUNDING FOR VARIOUS CAPITAL PROJECTS
INCLUDED IN THE SCHOOLS FACILITIES MANAGEMENT PLAN FOR
THE BOARD OF EDUCATION, AS AMENDED; STATING THE
ESTIMATED MAXIMUM COST THEREOF IS $10,000,000;
APPROPRIATING SAID AMOUNT THEREFOR; AND AUTHORIZING THE
ISSUANCE OF BONDS OF SAID CITY IN THE PRINCIPAL AMOUNT OF
NOT TO EXCEED $10,000,000 TO FINANCE SAID APPROPRIATION
The bonds are authorized to finance various capital projects included in the School Facilities
Management Plan for the Board of Education, as amended.
The amount of obligations to be issued is not to exceed $10,000,000.
The period of usefulness associated with the construction of improvements to various school
buildings and the sites thereof, is thirty (30) years.
Pursuant to the provisions of Section 17 of the Special Local Finance and Budget Act of the City
of Yonkers, constituting Chapters 488 and 489 of the Laws of 1976 of the State of New York
(herein called the “Act”), the City is authorized and directed to include the pledge and agreement
of the State of New York (herein called the “State”) contained in said Section 17 of the Act, in
the ordinance, and the Act provides that upon payment for the bonds or notes by the original and
all subsequent holders thereof the inclusion of such pledge and agreement shall be deemed
conclusive evidence of valuable consideration received by the State and City for such pledge and
agreement and of reliance upon such pledge and agreement by any holder and that any action by
the State contrary to or inconsistent with the provisions of such pledge and agreement shall be
void.
A complete copy of the Bond Ordinance summarized above shall be available for public
inspection during normal business hours at the office of the City Clerk, 40 South Broadway,
Yonkers, New York 10701.
