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Putnam Town Supervisor

Darrell T. Wilson

Photo courtesy of Tom Kerr

The town of Putnam is rich in history, getting its name from Israel Putnam (January 7, 1718 - May 29, 1790) who was an American Army general and Freemason, popularly known as "Old Put." Putnam's famous quote "don't shoot until you see the whites of their eyes, then shoot low" is still well known today.

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Israel Putnam

PUBLIC HEARING

PUTNAM VOL. FIRE DEPT.

MARCH 5, 2021 @ 7 PM

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            Notice is hereby given that a public hearing pursuant to Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code") will be held by the President or Vice President of the Putnam Volunteer Fire Company No. 1, Inc. ("Fire Company"), designated as hearing officer, on the 5th day of March, 2021 at 7:00 P.M., local time, at the Putnam Town Hall, located at 14 Putnam Center Road, Putnam Station, New York in connection with the following matter:

            The Fire Company, a New York not-for-profit corporation, has proposed to issue a note to finance a loan from the Bank of Greene County in a maximum principal amount estimated not to exceed $400,000.00 (the "Note").  Such Note is sought to finance the cost of a project consisting of the acquisition of a Fire Truck for the Fire Company.

            The Fire Company has requested that the Note be issued as an obligation the interest on which will be excluded from gross income for federal income tax purposes pursuant to Section 150 of the Code.  THE NOTE SHALL NOT BE A DEBT OF THE STATE OF NEW YORK OR THE TOWN OF PUTNAM, NEW YORK, AND NEITHER THE STATE OF NEW YORK NOR THE TOWN OF PUTNAM SHALL BE LIABLE THEREON.

            The designated hearing officer of the Fire Company will at said time and place hear and accept written comments from all persons with views on the proposed Note.  The hearing officer of the Fire Company will provide a transcript or summary report of the hearing to the Town Board of the Town of Putnam.  Approval by the Town of Putnam of the issuance of the Note by the Fire Company is necessary in order for the interest on the Note to qualify for exclusion from gross federal income for federal income tax purposes.

            Those wishing to attend virtually using Zoom may do so by clicking on the link on the homepage of the Town of Putnam website, Townofputnamny.com

                                                                                                                                    Putnam Volunteer Fire Company, Inc.

                                                                                                                                    David Hayes, President-Elect

NOTICE: PVFD PUBLIC HEARING

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