Times Union, LEGAL NOTICE PURSUANT TO LOCAL FINANCE LAW SECTION 81.00 The refunding bond resolution, a summary of which is published herewith, was adopted on October 7, 2014, and the validity of the obligations authorized by such refunding bond resolution may be hereafter contested only if such obligations were authorized for an object or purpose for which the Shenendehowa 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. Kathleen Chase District Clerk Shenendehowa Central School District, New York A REFUNDING BOND RESOLUTION DATED OCTOBER 7, 2014 AUTHORIZING THE ISSUANCE PURSUANT TO SECTION 90.10 OF THE LOCAL FINANCE LAW OF REFUNDING BONDS OF THE SHENENDEHOWA CENTRAL SCHOOL DISTRICT, NEW YORK, TO BE DESIGNATED SUBSTANTIALLY AS "REFUNDING (SERIAL) BONDS" AND PROVIDING FOR OTHER MATTERS IN RELATION THERETO AND THE PAYMENT OF THE BONDS TO BE REFUNDED THEREBY. Object or Purpose: To authorize the advance refunding of a portion of up to $5,250,000 presently outstanding aggregate principal amount of two (2) existing School District (Serial) Bond Issues to accomplish debt service savings. Par Amount of Refunding Bonds: Presently estimated to be $4,405,000, but not to exceed $4,660,000. Net Premium: Presently estimated to be $253,519.65. Maximum Permissible Term of Any Borrowing: Up to 30 years for each underlying series of financing, computed from the date of the first debt obligations issued therefor. Delegation to Board President: The President of the Board of Education, as chief fiscal officer of the School District, is delegated all powers to accomplish such refunding as provided in Section 90.10 of the Local Finance Law and the final Refunding Financial Plan shall be filed by the Board President with the District Clerk after issuance of the Refunding Bonds. A complete copy of the refunding bond resolution summarized above shall be available for public inspection during normal business hours at the office of the School District Clerk of the Shenendehowa Central School District, Clifton Park, New York. Dated: October 7, 2014 Clifton Park, New York TU 1t (776619)
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