NOTICE OF BOND RESOLUTION

TOWN OF GRAND ISLAND

NOTICE IS HEREBY GIVEN that a resolution, a summary of which is published herewith, has been adopted by the Town Board of the Town of Grand Island, County of Erie, on the 18th day of April, 2005 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 Grand Island is not authorized to expend money or

(b) 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 days after the date of publication of this notice; or

(2) such obligations were authorized in violation of the provisions of the Constitution of New York.

SUMMARY OF RESOLUTION

The following is a summary of a resolution adopted by the Town Board of the Town of Grand Island on the 18th day of April, 2005. Said resolution authorizes 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 said serial bonds, in an amount not to exceed $1,245,000. The purpose is sewer system improvements including but not limited to, improvements at the Master Lift Station, replacing the 14 inch and 16 inch force mains, upgrading and replacing pumps, and electrical work, all of the forgoing to include all necessary site work, equipment, apparatus and other improvements and costs incidental thereto, will be paid for by the issuance of serial bonds in that amount. The proceeds from the sale of the obligations authorized in said resolution shall be used for the specific purpose of constructing the Increase and Improvement of Facilities of the Consolidated Sewer District. The period of probable usefulness for said purpose is 40 years. 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, 2255 Baseline Road, Grand Island, New York 14072.