NOTICE OF BOND RESOLUTION

TOWN OF GRAND ISLAND

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 July 16, 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 a bond resolution adopted by the Town Board of the Town of Grand Island on July 16, 2007 in an amount not to exceed $275,000; fifty percent of which cost is to be borne by the Consolidated Sewer District, said cost to be financed by the issuance of serial bonds of the Town in the amount of $137,500, offset by any federal and state funds received, and the remaining fifty percent by issuance of serial bonds by the Town of Grand Island through the Highway Fund, pursuant to a bond resolution adopted May 21, 2007.  The purpose is the acquisition of a new Vactor Truck for use by the Town, the forgoing to include all necessary equipment, materials and all preliminary costs and other improvements and costs incidental thereto, 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 the acquisition of a new Vactor Truck for use by the Town.  The period of probable usefulness for said purpose is 15 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

Publish:  July 20, 2007