Bond Resolution

VILLAGE OF

AKRON, NEW YORK

PLEASE TAKE NOTICE that on September 9, 2024, the Board of Trustees of the Village of Akron, in the County of Erie, New York, adopted a bond resolution entitled:

“Bond Resolution of the Village of Akron, New York, adopted September 9, 2024, authorizing the issuance of bonds in a principal amount not to exceed $6,500,000 to finance the construction of improvements to the existing Crittenden Road Water Tower, in the Village, stating the estimated maximum cost thereof is $6,500,000 and appropriating said amount for such purpose,”

an abstract of such bond resolution, concisely stating the purpose and effect thereof, being as follows:

FIRST:  AUTHORIZING the Village of Akron, New York to issue bonds in a principal amount not to exceed $6,500,000 pursuant to the Local Finance Law of the State of New York, to finance the construction of improvements to the existing Crittenden Road Water Tower, in the Village, including related work in connection therewith, as described in the Preliminary Engineering Report prepared for the Village by MRB Group, dated June 2023;

SECOND:  STATING that the estimated maximum cost thereof, including preliminary costs and costs incidental thereto and the financing thereof, is $6,500,000; appropriating said amount for such purpose; and STATING that the plan of financing includes the issuance of bonds in a principal amount not to exceed $6,500,000 to finance said appropriation, and the levy and collection of taxes on all the taxable real property in the Village to pay the principal of said bonds and the interest thereon as the same shall become due and payable;

THIRD:  DETERMINING and STATING that the period of probable usefulness applicable to the object or purpose for which said bonds are authorized to be issued is forty (40) years; the proceeds of said bonds and any bond anticipation notes issued in anticipation thereof may be applied to reimburse the Village for expenditures made after the effective date of this bond resolution for the purpose for which said bonds are authorized; and the proposed maturity of said bonds will exceed five (5) years;

FOURTH:  DETERMINING that said bonds and any bond anticipation notes issued in anticipation of said bonds and the renewals of said bond anticipation notes shall be general obligations of the Village; and PLEDGING to their payment the faith and credit of the Village;

FIFTH:  DELEGATING to the Village Treasurer the powers and duties as to the issuance of said bonds, and any bond anticipation notes issued in anticipation of said bonds, or the renewals thereof; and

SIXTH:  STATING the conditions under which the validity of the bonds and any notes issued in anticipation thereof may be contested: and

SEVENTH:  DETERMINING that the bond resolution is subject to a permissive referendum.

DATED:  September 9, 2024

   Jayne DeTine

   Village Clerk