NOTICE IS HEREBY GIVEN that a bond resolution, a summary of which is published herewith, has been adopted by the Town Board of the Town of Grand Island, County of Erie, on the 4th day of June, 2007 and the validity of the obligations authorized by such resolution may be hereafter contested only if:
(1) (a)
such obligations were authorized for an object or purpose for which the
Town of Grand Island is not authorized to expend money or
(b) 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 date of publication of this notice; or
(2) such
obligations were authorized in violation of the provisions of the Constitution
of New York.
SUMMARY OF RESOLUTION
The following is a summary of an amending bond resolution adopted by the Town Board of the Town of Grand Island on June 4, 2007, that amends a prior bond resolution dated September 7, 2004. Said amending bond resolution authorizes the issuance and sale of a serial bond or bonds and a bond anticipation note or notes in anticipation of said serial bonds, in an amount not to exceed $1,000.000. The improvements proposed consist of the widening and resurfacing of the existing Linear Park Multiuse Trail, constructing a new multi-use trail system through Buckhorn State Park with a scenic overlook on West River Parkway and to connect the two trail systems together, including preliminary costs, apparatus, site work and other improvements and costs incidental thereto, (the “Improvement”), will be paid for by the issuance of serial bonds in that amount. The proceeds from the sale of the obligations authorized in said resolution shall be used for the specific purpose of constructing the Improvement. The period of probable usefulness for said purpose is five years. A copy of the resolution summarized herein is available for public inspection during normal business hours at the Office of the Town Clerk, located in the Town Hall, 2255 Baseline Road, Grand Island, New York.
Patricia A. Frentzel
Town Clerk