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Sleepy Hollow Approves $900,000 in Bond Resolutions

SLEEPY HOLLOW, N.Y. – Sleepy Hollow trustees unanimously approved two bond resolutions Tuesday night totaling $900,000 for this year's capital expenses. The bonds do not include financing a new fire truck, which has been requested by the Sleepy Hollow Fire Department.

Trustee David Schroedel, Finance Committee Chair, said the bonds would have little change on the village's operating budget. Schroedel said Sleepy Hollow had retired its prior bond issue during the last fiscal year. That bond was slightly more than $1 million.

“In fact, the interest rate on this bond is less than the interest rate on the prior bond, so actually operating expenses will be less,” Schroedel said.

According to Schroedel, the bond resolutions have been divided into two separate resolutions to account for differences in the time length of each of the bonds. Some are for five years, others 15 years, Schroedel said.

The first bond amounts to $516,416 and will last five years. Included in that bond is $139,287 for new police vehicles, $33,043 for fire department equipment and furnishings, $344,086 for tax certiorari claims and other legal matters.

The second bond amounts to $383,584. Included in that bond is $121,819 for construction at DeVries Park, a new street sweeper for the department of public works, construction of an interview room at the police department, the replacement of booster plant pumps and roadwork on Kendal St.

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