PROPOSITION NO. 2
RESOLVED, that the Board of Education of the Clymer Central School District, Chautauqua County, New York (the “District”), is hereby authorized to purchase school buses (and related equipment) for use in the transportation program of the District, at an estimated maximum cost not to exceed $175,000 (with such estimated maximum cost reflecting the value of any trade-ins); and be it further
RESOLVED, that the sum of $175,000, being the aforesaid estimated maximum cost, or so much thereof as may be necessary, shall be raised by the levy of a tax upon the taxable property of the District and collected in annual installments as provided by Section 416 of the Education Law; and be it further
RESOLVED, that in anticipation of such tax, bonds or other obligations (including, without limitation, obligations arising under leases, lease/purchase contracts or installment purchase contracts having a term of not more than five years) of the District shall be issued or entered into in accordance with applicable provisions of New York State law; and be it further
RESOLVED, that New York State Transportation Aid funds expected to be received by the District are anticipated to offset a substantial part of such costs, and such funds, to the extent received, shall be applied to offset and reduce the amount of taxes herein authorized to be levied.
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