Call to Order

Willsboro Central School
Board of Education – Agenda
November 13, 2007
Conference Room at 6:00pm

Call to Order

Executive Session

Pledge of Allegiance

Approval of Minutes

a) Approve the minutes from the regular meeting held on 10-23-07.

Presentation of Ed-Line by student representative Ben Rowe.

New Business

a) Accept the donation of a baby grand piano from George & Leslie Hearn. The piano is valued at $8,000.00.

b) Approve Bruce Hale and Stephen Broadwell ’s attendance at the CFES conference in Bolton Landing on November 16^th and 17^th.

c) Approve the bond resolution as follows:

BOND RESOLUTION DATED ____________________

BOND RESOLUTION OF THE BOARD OF EDUCATION OF THE WILLSBORO CENTRAL SCHOOL DISTRICT, ESSEX COUNTY, NEW YORK (THE "DISTRICT") AUTHORIZING THE ISSUANCE OF $233,000 IN SERIAL BONDS OF THE DISTRICT TO FINANCE THE CONSTRUCTION OF ALTERATIONS, RENOVATIONS AND IMPROVEMENTS TO THE DISTRICT'S EXISTING SCHOOL BUILDING

WHEREAS, the qualified voters of the Willsboro Central School District, Essex County, New York (the "District") on October 23, 2007 approved a proposition authorizing the Board of Education (the "Board") of the District to undertake a capital improvement project consisting of the construction of alterations, renovations and improvements to the District's existing K-12 school building to consist of technology and security system improvements, including other appurtenant and related improvements, and the acquisition and installation in and around the foregoing improvements of original furnishings, equipment, machinery, and apparatus, and other services incidental thereto (collectively, the "Project"), all at a total estimated cost of $233,000, such cost to be raised by a tax upon the taxable property of the District to be levied and collected in annual installments as provided by Section 416 of the Education Law, with such tax to be partially offset by State aid available therefore, and in anticipation of such tax, the District shall be authorized to issue obligations of the District; and

WHEREAS, the Board of Education of the District, acting as lead agency under the State Environmental Quality Review Act and the regulations of the New York State Department of Environmental Conservation adopted thereunder (collectively, "SEQRA"), by resolution adopted May 22, 2007, determined that the Project constitutes a "Type II" action within the meaning of SEQRA, and that it will not have a significant impact on the environment, and that no further actions or proceedings are required to be taken under SEQRA; and

WHEREAS, the Board of the District now wishes to appropriate funds for the Project and to authorize the issuance of the District's serial bonds or bond anticipation notes to finance said appropriation.

NOW, THEREFORE, THE BOARD OF EDUCATION OF THE DISTRICT HEREBY RESOLVES (by the favorable vote of at least two-thirds of all the members of the Board), AS FOLLOWS:

SECTION 1. The District is hereby authorized to undertake the Project, and to issue up to $233,000 principal amount of serial bonds (the "Bonds") pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York (the "Law") to finance the estimated cost of said specific objects or purposes, or bond anticipation notes in anticipation of the Bonds.

SECTION 2. It is hereby determined that the estimated maximum aggregate cost of the aforesaid specific objects or purposes is $233,000, said amount is hereby appropriated therefor and the plan for the financing thereof shall consist of the issuance of up to $233,000 in serial bonds of the District authorized to be issued pursuant to this resolution, or bond anticipation notes issued in anticipation of the Bonds.

SECTION 3. It is hereby determined that the period of probable usefulness of the aforesaid specific objects or purposes is thirty (30) years, pursuant to subdivision a.97. of Section 11.00 of the Law.

SECTION 4. The temporary use of available funds of the District, not immediately required for the purpose or purposes for which the same were borrowed, raised or otherwise created, is hereby authorized pursuant to Section 165.10 of the Law, for the capital purposes described in Section 1 of this resolution. This resolution shall constitute a declaration of official intent to reimburse the expenditures authorized by Section 1 hereof with the proceeds of the Bonds and bond anticipation notes authorized herein, as required by United States Treasury Regulation Section 1.150-2.

SECTION 5. Each of the serial bonds authorized by this resolution and any bond anticipation notes issued in anticipation of the Bonds shall contain the recital of validity prescribed by Section 52.00 of the Law and the said serial bonds and any bond anticipation notes issued in anticipation of the Bonds shall be general obligations of the District, payable as to both principal and interest by a general tax upon all the real property within the District without legal or constitutional limitation as to rate or amount. The faith and credit of the District are hereby irrevocably pledged to the punctual payment of the principal and interest on the Bonds and bond anticipation notes and provisions shall be made annually in the budget of the District by appropriation for (a) the amortization and redemption of the Bonds and bond anticipation notes to mature in such year and (b) the payment of interest to be due and payable in such year.

SECTION 6. Subject to the provisions of this resolution and of the Law, pursuant to the provisions of Section 30.00 relative to the authorization of the issuance of bond anticipation notes or the renewals of said obligations and of Section 21.00, Section 50.00, Section 54.90, Sections 56.00 through 60.00 and Sections 62.10 and 63.00 of the Law, the powers and duties of the Board relative to authorizing serial bonds and bond anticipation notes, including without limitation the determination of whether to issue bonds having substantially level or declining debt service, and all matters incidental thereto, and prescribing the terms, form and contents as to the sale and issuance of bonds herein authorized and of any bond anticipation notes issued in anticipation of the Bonds, and the renewals of said bond anticipation notes, are hereby delegated to the President of the Board, the Chief Fiscal Officer of the District. The delegation of authority to the President of the Board contained in this Section 6 shall include the authority to determine whether to issue and sell the Bonds in a private sale to the Dormitory Authority of the State of New York in accordance with Section 57.00(a) of the Law. In connection with, and in order to effectuate any such private sale of the Bonds to the Dormitory Authority of the State of New York pursuant to Section 57.00(a) of the Law, the President of the Board is hereby further authorized to execute one or more loan agreements, financing agreements and/or any other agreements with or for the benefit of the Dormitory Authority of the State of New York, including any amendments thereto and any instruments, certificates or other documents in connection therewith. Further, pursuant to subdivision b. of Section 11.00 of the Law, in the event that bonds to be issued for one or more of the objects or purposes authorized by this resolution are combined for sale, pursuant to subdivision c. of Section 57.00 of the Law, with bonds to be issued for one or more objects or purposes authorized by other resolutions of the Board of Education of the District, then the power of the Board to determine the "weighted average period of probable usefulness" (within the meaning of subdivision a. of Section 11.00 of the Law) for such combined objects or purposes is hereby delegated to the President of the Board, as the chief fiscal officer of the District.

SECTION 7. The President of the Board is hereby further authorized to take such actions and execute such documents as may be necessary to ensure the continued status of the interest on the bonds authorized by this resolution and any bond anticipation notes issued in anticipation thereof, as excludable from gross income for federal income tax purposes pursuant to Section 103 of the Internal Revenue Code of 1986, as amended (the "Code") and to designate the bonds authorized by this resolution and any bond anticipation notes issued in anticipation thereof, if applicable, as "qualified tax-exempt bonds" in accordance with Section 265(b)(3)(B)(i) of the Code.

SECTION 8. The intent of this resolution is to give the President of the Board sufficient authority to execute those applications, agreements, instruments, certificates or to do any similar acts necessary or in the opinion of the President of the Board advisable to effect the issuance of the Bonds or bond anticipation notes without resorting to further action of the Board.

SECTION 9. The District Clerk is hereby authorized and directed to cause a copy of this resolution to be published in full in an official newspaper of the District for legal notices, together with a notice of the District in substantially the form provided in Section 81.00 of the Law.

SECTION 10. The validity of the Bonds authorized by this resolution and of any bond anticipation notes issued in anticipation of the Bonds may be contested only if:

(a) such obligations are authorized for an object or purpose for which the District is not authorized to expend money; or

(b) the provisions of law which should be complied with at the date of the publication of such 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

SECTION 11. This resolution shall take effect immediately upon its adoption.

The following vote was taken and recorded in the public or open session of said meeting, which resulted as follows:

AYES: NAYS:

Business & Finance

a) Approve the 2007 – 2008 school tax roll corrections. The changes reflect clerical errors from the assessor’s office and have been recommended for approval by the office of Real Property.