TOWN OF WOODBURY, NEW YORK

PLEASE TAKE NOTICE that on February 5, 2009, the Town Board of the Town of Woodbury, in the County of Orange, New York, adopted a bond resolution entitled: "Bond Resolution of the Town of Woodbury, New York, adopted February 5, 2009, authorizing the construction of various improvements to the Central Valley Pool; stating the estimated maximum cost thereof is $1,400,000; appropriating said amount therefore, including the expenditure of $500,000 general funds and/or parkland funds currently available or expected to become available to pay a part of said appropriation; and authorizing the issuance of $900,000 bonds of said Town to finance the balance of said appropriation," an abstract of such bond resolution, concisely stating the purpose and effect thereof, being as follows:

FIRST: AUTHORIZING said Town to construct various improvements to Central Valley Pool; STATING the estimated maximum cost thereof, including preliminary costs and costs incidental thereto and the financing thereof, is $1,400,000; APPROPRIATING said amount therefore; and STATING the plan of financing includes the expenditure of $500,000 general funds and/or parkland funds collected or to be collected pursuant to Section 277 of the Town Law to pay a part of said appropriation, the issuance of $900,000 bonds of the Town to finance the balance of said appropriation, and the levy and collection of taxes on all the taxable real property in the Town to pay the principal of said bonds and the interest thereon;

SECOND: AUTHORIZING the issuance of $900,000 serial bonds of the Town pursuant to the Local Finance Law of the State of New York (the "Law") to finance a part of said appropriation;

THIRD: DETERMINING and STATING the period of probable usefulness applicable to the purpose for which said serial bonds are authorized to be issued is fifteen (15) years; the proceeds of said bonds and any bond anticipation notes issued in anticipation thereof may be applied to reimburse the Town 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 $900,000 serial 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 Town; and PLEDGING to their payment the faith and credit of the Town;

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

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

BY ORDER OF THE TOWN BOARD

OF THE TOWN OF WOODBURY

DESIREE POTVIN, TOWN CLERK