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Farmingdale approves $1.3M bond, taps $287,633 in ARPA funds for North Main Street upgrades
Summary
The Village of Farmingdale authorized up to $1.3 million in bonds for a North Main Street improvement project estimated at $2,196,886 and designated $287,633.10 in ARPA funds to bury utility poles as Phase II of the work.
The Board of Trustees on Dec. 16 adopted a bond resolution authorizing the issuance of bonds in a principal amount not to exceed $1,300,000 to finance part of various improvements on North Main Street, saying the estimated maximum project cost is $2,196,886. The board recorded an affirmative roll-call vote: Mayor Ralph Ekstrand, Deputy Mayor William Barrett, Trustee Cheryl Parisi, Trustee Walter Priestley and Trustee Craig Rosasco voted aye; no votes were recorded against the measure.
The resolution enumerates work including burial and underground placement of power and communications lines, installation of light poles and lighting improvements, roadway and sidewalk work, tree planting and other related items. It delegates authority over bond anticipation notes and related financing tasks to the Village Treasurer and allows use of grants and other funding sources to cover the balance of the project cost.
Separately, the board designated $287,633.10 in American Rescue Plan Act funds to be used as revenue loss specifically for expenditures related to the burial of utility poles on North Main Street (Phase II). Deputy Mayor William Barrett moved the ARPA designation and Trustee Walter Priestley seconded the motion; the action is recorded as RESOLVED #2025-12-18.
The bond resolution requires the Village to levy and collect taxes to pay debt service as necessary and contains standard provisions about periods of probable usefulness and reimbursement of prior expenditures under Treasury Regulation Section 1.150-2. The village clerk is directed to publish the resolution and a prescribed notice in the official newspaper.
