BOND FOR THE ACQUISITION AND FINANCING OF SCHOOL BUSES & TRANSPORTATION VEHICLE

BOND FOR THE ACQUISITION AND FINANCING OF SCHOOL BUSES & TRANSPORTATION VEHICLE BOND RESOLUTION DATED JUNE 15, 2026 OF THE BOARD OF EDUCATION OF THE WEBUTUCK CENTRAL SCHOOL DISTRICT AUTHORIZING NOT TO EXCEED $429,327 AGGREGATE PRINCIPAL AMOUNT OF GENERAL OBLIGATION BONDS AND/OR INSTALLMENT PURCHASE CONTRACTS TO FINANCE THE ACQUISITION OF A SCHOOL BUSES AND VEHICLES AT AN AGGREGATE ESTIMATED MAXIMUM COST OF $429,327, LEVY OF TAX IN ANNUAL INSTALLMENTS IN PAYMENT THEREOFTAKING INTO ACCOUNT STATE-AID, THE EXPENDITURE OF SUCH SUM FOR SUCH PURPOSE, AND DETERMINING OTHER MATTERS IN CONNECTION THEREWITH. WHEREAS, the qualified voters of the Webutuck Central School District, New York (the "School District"), at the annual meeting of such voters duly held on the 19 th day of May, 2026,duly approved a roposition authorizing the issuance of general obligation bonds and notesand/or entering into installment purchase contracts in an aggregate principal amount of not toexceed $429,327 to finance the acquisition of two (2) 64-passenger school buses and one (1) Bobcat Multipurpose vehicle, the expenditure of such sum for such purposes, and the levy of the necessary tax therefor, to be levied upon the taxable property of the District and collected in annual installments as provided by Section 416 of the Education Law, taking into account state-aid received; NOW THEREFORE, BE IT RESOLVED BY THIS BOARD OF EDUCATION AS FOLLOWS: Section 1. The School District shall acquire two (2) 64-passenger school buses and one (1) Bobcat Multipurpose vehicle at a cost not to exceed $429,327, as more particularly described in Section 3 hereof, and as generally outlined to and considered by the voters of the School District at the annual District meeting of May 19, 2026. Section 2. The School District is hereby authorized to issue its general obligation bonds (the "Bonds") in the aggregate principal amount of not to exceed $429,327 pursuant to the Local Finance Law of New York and/or enter installment purchase contracts pursuant to the General Municipal Law of New York, in order to finance the class of objects or purposes described herein. Section 3. The class of objects or purposes to be financed pursuant to this Resolution (the "Purpose") is the acquisition of two (2) 64-passenger school buses and one (1) Bobcat Multipurpose vehicle. Section 4. It is hereby determined and declared that (a) the maximum cost of the Purpose, as estimated by the Board of Education, is $429,327, (b) no money has heretofore been authorized to be applied to the payment of the cost of the Purpose, and (c) the School District plans to finance the cost of the Purpose from funds raised by the issuance of the Bonds and bond anticipation notes, and/or the proceeds of installment purchase agreements hereinafter referred and the aid received from the State of New York. Section 5. It is hereby determined that the Purpose is one of the class of objects or purposes described in Subdivision 89 of Section 11.00 of the Local Finance Law, and that the period of probable usefulness of the Purpose is five (5) years. Section 6. Subject to the provisions of the Local Finance Law, the power to authorize the issuance of and to sell bond anticipation notes in anticipation of the sale of the Bonds, including renewals of such notes, is hereby delegated to the President of the Board of Education, the chief fiscal officer. Section 7. The power to further authorize the issuance of the Bonds and bond anticipation notes, including renewal notes, and to prescribe the terms, form and contents of the Bonds and bond anticipation notes, including the consolidation with other issues and the use of substantially level or declining debt service, subject to the provisions of this Resolution and the Local Finance Law, and to sell and deliver the Bonds and bond anticipation notes, is hereby delegated to the President of the Board of Education. The President of the Board of Education is hereby authorized to sign and the District Clerk is hereby authorized to attest any Bonds and bond anticipation notes issued pursuant to this Resolution, and the District Clerk is hereby authorized to affix to such Bonds and bond anticipation notes the corporate seal of the School District. Section 8. The faith and credit of the Webutuck Central School District are hereby irrevocably pledged for the payment of the principal of and interest on such Bonds and bond anticipation notes as the same respectively become due and payable. An annual appropriation shall be made in each year sufficient to pay the principal of and interest on such obligations becoming due and payable in such year. There shall be levied annually on all taxable real property of the School District, a tax sufficient to pay the principal of and interest on such obligations as the same become due and payable. Section 9. This Bond Resolution shall constitute the School District's "official intent", within the meaning of Section 1.150-2 of the Treasury Regulations, to finance the cost of the Purpose with Bonds and notes herein authorized. The School District shall not reimburse itself from the proceeds of the Bonds or notes for any expenditures paid more than sixty days prior to the date hereof, unless specifically authorized by Section 1.150-2 of the Treasury Regulations. Section 10. The power to further authorize the execution of installment purchase agreements and to prescribe the terms, form and contents of the installment purchase contracts, subject to the provisions of this Resolution and the General Municipal Law, is hereby delegated to the President of the Board of Education. The President of the Board of Education is hereby authorized to sign and the District Clerk is hereby authorized to attest any installment purchase agreements entered into pursuant to this Resolution, and the District Clerk is hereby authorized to affix to such installment purchase agreements the corporate seal of the District. Section 11. This Resolution, or a summary thereof, shall be published by the District Clerk of the School District together with a notice in substantially the form prescribed by Section 81.00 of the Local Finance Law, and such publication shall be in each official newspaper of the School District. The validity of the Bonds or of any bond anticipation notes issued in anticipation of the sale of the Bonds may be contested only if such obligations are authorized for an object or purpose for which the School District is not authorized to expend money, or the provisions of law which should be complied with at the date of publication of this Resolution are not substantially complied with, and an action, suit or proceeding contesting such validity is commenced within twenty (20) days after the date of such publication; or if said obligations are authorized in violation of the provisions of the Constitution. Section 12. The law firm Barclay Damon LLP, is hereby appointed as bond counsel to the School District in connection with the issuance of the Bonds and bond anticipation notes authorized herein. Section 13. This Resolution shall take effect immediately upon its adoption. July 9 2026 LNYS0546016