NOTICE OF BOND RESOLUTION TOWN OF WELLSVILLE NOTICE IS HEREBY GIVEN that a bond resolution, a summary of which is published herewith, has been adopted by the Town Board of the Town of Wellsville, County of Allegany, on May 13, 2026 and the validity of the obligations authorized by such resolution may be hereafter contested only if: 1. (a) such obligations were authorized for an object or purpose for which the Town of Wellsville is not authorized to expend money, or (b) the provisions of the law which should be 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 20 days after the date of such publication of this notice, or 2. such obligations were authorized in violation of the provisions of the Constitution of New York. SUMMARY OF BOND RESOLUTION The following is a summary of a bond resolution adopted by the Town Board of the Town of Wellsville (the “Town”) on May 13, 2026. The proceeds from the sale of the obligations authorized in such bond resolution will be used to finance an airport capital improvements project consisting of improvements to the North Hangar building at the Wellsville Municipal Airport, such project to include, but not be limited to, the removal of the existing metal roof and the installation of a new insulated metal panel roof system including new gutters and downspouts, as well as other such improvements as more fully identified (or contemplated by) one or more reports prepared by the Town, all of the forgoing to include all preliminary work and necessary equipment, materials and related site work, and any preliminary costs and costs incidental thereto and in connection with the financing thereof (collectively, the “Purpose”), at an estimated maximum cost of $865,000. Such resolution authorizes (a) the application of approximately $540,000 in grant funds from New York State and (b) the expenditure of $32,500 from the Airport Construction Reserve Fund. The balance of such Purpose is to be funded by the issuance and sale of a serial bond or bonds and a bond anticipation note or notes in anticipation of the issuance and sale of such serial bonds, in an aggregate principal amount not to exceed $292,500, such amount to be offset by any federal, state, county and/or local funds received. The period of probable usefulness for such purpose is 15 years; however, the bonds issued pursuant to this resolution, and any bond anticipation notes issued in anticipation of the sale of such bonds, will mature no later than five years from the date of original issuance of such bonds or notes. A copy of the resolution summarized herein is available for public inspection during normal business hours at the Office of the Town Clerk, located in the Town Hall, 2600 Tarantine Boulevard, Wellsville, New York.
