BOND ACT-BPL26-2981-Flood Mitigation

This Bond Act authorizes the issuance of $2,000,000 in bonds to finance the County's share of a flood mitigation project in the Town of Rye, specifically in the area of Rye Town Park. This project is part of the Stormwater Reconnaissance Plan for the Coastal Long Island Sound Basin.

Key Details:

• Purpose: Flood mitigation in Rye Town Park.
• Funding: Authorization of $2,000,000 in bonds.
• Financing Plan: Issuance of bonds and potentially bond anticipation notes, with a tax levy to cover principal and interest.
• Period of Usefulness: Thirty (30) years.
• Interim Financing: The County intends to finance costs on an interim basis, expecting reimbursement from the bond proceeds.
• Project Integration: The Stormwater Reconnaissance Plan for the Coastal Long Island Sound will be amended to include this flood problem area.