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 the July 6, 2009 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 is not authorized to expend money, or

               (b)               if the provisions of the law which should be 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 (20) days after the date of such 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 6, 2009.  Said resolution authorizes the  construction of new sidewalks in a portion of the Town at a maximum estimated cost of $70,000.  Said resolution authorizes the issuance and sale of a serial bond or bonds and a bond anticipation note or notes in anticipation of the issuance and sale of said serial bonds, in an amount not to exceed $70,000, said amount to be offset by any federal, state, county and/or local funds received including, but not limited to, a Safe Routes to School Federal Grant in an approximate amount of $48,000.  The proceeds from the sale of the obligations authorized in said resolution shall be used for the specific purpose of the construction of new sidewalks in a portion of the Town, and other improvements in connection therewith including, but not limited to, the construction of approximately 350 lineal eet of blacktop path along Love Road and the construction of approximately 840 lineal feet of new concrete sidewalk along East Park Road and all preliminary work and necessary equipment, materials and related site work and all preliminary costs and other improvements and costs incidental thereto. The period of probable usefulness for said purpose is ten years, however, the obligations will be paid off in five years or less.  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 & Post:  July 10, 2009