Greece Central School District- City
LEGAL NOTICE PURSUANT TO LOCAL FINANCE LAW SECTION 81.00
The bond resolution, a summary of which is published herewith, was adopted on July 7, 2020, and the validity of the obligations authorized by such bond resolution may be hereafter contested only if such obligations were authorized for an object or purpose for which the Greece Central School District is not authorized to expend money or 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 (20) days after the date of publication of this notice, or such obligations were authorized in violation of the provisions of the Constitution.
Greece Central School District,
BOND RESOLUTION DATED JULY 7, 2020 OF THE
BOARD OF EDUCATION OF THE GREECE CENTRAL SCHOOL DISTRICT AUTHORIZING GENERAL OBLIGATION BONDS TO FINANCE THE ACQUISITION OF SCHOOL BUSES, AUTHORIZING BOND ANTICIPATION NOTES IN CONTEMPLATION THEREOF, THE LEVY OF TAXES IN ANNUAL INSTALLMENTS IN PAYMENT THEREOF, THE EXPENDITURE OF SUCH SUMS FOR SUCH PURPOSE, AND DETERMINING OTHER MATTERS IN CONNECTION THEREWITH.
Object or Purpose: the acquisition of eight (8) 63-passenger school buses at an estimated maximum cost of $123,736 each, five (5) 63-passenger school buses with cargo storage at an estimated maximum cost of $128,440 each, six (6) 30-passenger vans at an estimated maximum cost of $63,041 each, four (4) 30-passenger wheelchair accessible school buses at an estimated maximum cost of $81,717 each and two (2) minivans at an estimated maximum cost of $26,612 each, all at an estimated maximum aggregate cost of $2,390,426.
Period of Probable Usefulness and Maximum Permissible Term of Any Borrowing:
five (5) years.
Amount of Debt Obligations Authorized: up to $1,585,426.
Amount of Bus Reserve Fund Expenditure Authorized: $805,000.
A complete copy of the bond resolution summarized above shall be available for public inspection during normal business hours at the office of the School District Clerk of the Greece Central School District, Greece, New York.
Dated: July 7, 2020
Greece, New York