LEGAL NOTICE

A BOND RESOLUTION, DATED JUNE 16, 2026, OF THE BOARD OF EDUCATION OF THE BOLIVAR-RICHBURG CENTRAL SCHOOL

DISTRICT, ALLEGANY COUNTY, NEW YORK (THE “DISTRICT”) AUTHORIZING (A) THE PURCHASE OF SCHOOL BUSES AND SIMILAR VEHICLES, INCLUDING EQUIPMENT, MACHINERY AND APPARATUS USED IN CONNECTION THEREWITH, FOR USE IN THE TRANSPORTATION PROGRAM OF THE DISTRICT, AT AN ESTIMATED MAXIMUM COST NOT TO

EXCEED $543,110 (WITH SUCH

ESTIMATED

MAXIMUM COST

REFLECTING THE VALUE OF ANY TRADE-INS), (B) TO EXPEND OR APPLY TOWARD THE PURCHASE $38,000, DURING THE CURRENT FISCAL YEAR OF THE DISTRICT, FROM THE DISTRICT’S TRANSPORTATION CAPITAL RESERVE FUND THAT WAS ESTABLISHED IN MAY OF 2022 AND (2) TO ISSUE SERIAL BONDS OR OTHER OBLIGATIONS OF THE DISTRICT IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $505,110 TO FINANCE THE BALANCE OF SUCH SCHOOL BUSES AND SIMILAR VEHICLES (INCLUDING PRELIMINARY COSTS AND COSTS

INCIDENTAL THERETO), AND (C) DELEGATING THE POWER TO ISSUE BOND

ANTICIPATION NOTES IN ANTICIPATION OF THE SALE OF SUCH BONDS TO THE PRESIDENT OF THE BOARD OF EDUCATION OF THE DISTRICT.

WHEREAS, at the annual school district meeting and vote of the qualified voters of the Bolivar-Richburg Central School

District, Allegany County, New York (the “District”), that was held on May 19, 2026, a proposition (the “Proposition”) was duly adopted authorizing the Board of Education of the District (the “Board”) (1) to purchase and finance school buses and similar vehicles, including equipment, machinery and apparatus used in connection therewith, for use in the transportation program of the District,

at an estimated

maximum cost of $543,110 (with such estimated maximum cost reflecting the value of any trade-ins) (or so much thereof as may be necessary, plus an amount

necessary for the

payment of interest thereon), (2) to expend or apply toward the purchase $38,000, during the current fiscal year of the District, from the District’s Transportation Capital Reserve Fund that was established in May of 2022, and (3) providing for the levy of a tax to finance the balance of the estimated maximum cost of the purchase, such tax to be collected in annual installments, with obligations of the District (in an aggregate principal amount not to exceed $505,110) to be issued in anticipation thereof; and

WHEREAS, it is now desired to

authorize the expenditure for such purchase and to provide for the financing thereof in accordance with the Proposition;

NOW, THEREFORE,

BE IT RESOLVED, by the Board (by a favorable vote of at least two-thirds of the total voting strength of the Board), as follows:

SECTION 1. The class of objects or purposes to be financed pursuant to this resolution is the purchase of school buses and similar vehicles, including equipment, machinery and apparatus used in connection therewith, for use in the transportation program of the District, including preliminary costs and costs incidental thereto and in connection with the financing thereof.

SECTION 2. The estimated maximum cost of such class of objects or purposes is determined to be $543,110 (with such estimated maximum cost reflecting the value of any trade-ins) (including preliminary costs and costs incidental thereto and in connection with the financing thereof), which expenditure is hereby authorized. The plan for the financing thereof is (1) to expend or apply toward the purchase $38,000, during the current fiscal year of the District, from the District’s Transportation Capital Reserve Fund that was established in May of 2022 and (2) to issue up to $505,110 of serial bonds or other obligations of the District that may be lawfully issued under the Local Finance Law (the issuance of which being hereby specifically authorized for the financing of the balance of the estimated maximum cost of the purchase), with such amount to be offset by any federal, state, county and/or local funds received by the District. Unless paid from other sources or charges, the cost is to be paid by the levy and collection of taxes on all the taxable real property in the District to pay the principal of such bonds or other obligations and the interest thereon as the same will become due and payable.

SECTION 3. It is hereby determined that the period of probable usefulness of the aforesaid class of objects or purposes is five years, pursuant to subdivision 29 of paragraph a of Section 11.00 of the Local Finance Law.

SECTION 4. Subject to the provisions of this resolution and of the Local Finance Law, and pursuant to the provisions of Section 21.00 relative to the authorization of the issuance of bonds with substantially level or declining annual debt service, Section 30.00 relative to the authorization of the issuance of bond anticipation notes and of Section 50.00, Sections 56.00 to 60.00, Section 62.00, Section 62.10, Section 63.00, and Section 164.00 of the Local Finance Law, the powers and duties of the Board pertaining or incidental to the sale and issuance of the obligations herein authorized, including but not limited to authorizing bond anticipation notes and prescribing the terms, form and contents and details as to the sale and issuance of the bonds herein authorized and of any bond anticipation notes issued in anticipation of such bonds, and the renewals of such notes, are hereby delegated to the President of the Board, as the chief fiscal officer of the District. Without in any way limiting the scope of the foregoing delegation of powers, the President of the Board, to the extent permitted by Section 58.00(f) of the Local Finance Law, is specifically authorized to accept bids submitted in electronic format for any bonds or notes of the District.

SECTION 5. 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 Local Finance Law, for the purpose or purposes described in this resolution.

SECTION 6. This resolution shall constitute the declaration (or reaffirmation) of the District’s “official intent” to reimburse the expenditures authorized in this resolution with the proceeds of the bonds, notes or other obligations authorized herein, as required by United States Treasury Regulations Section 1.150-2.

SECTION 7. Each of the obligations authorized by this resolution, and any notes issued in anticipation of the sale of such obligations, shall contain the recital of validity as prescribed by Section 52.00 of the Local Finance Law, and such obligations shall be general obligations of the District, payable as to both principal and interest by a general tax upon all the taxable real property within the District, without limitation as to rate or amount (subject to certain statutory limitations imposed by Chapter 97 of the 2011 Laws of New York). The faith and credit of the District are hereby irrevocably pledged for the payment of the principal of and interest on such obligations, and provision shall be made annually in the budget of the District by appropriation for (1) the amortization and redemption of any such obligations to mature in such year and (2) the payment of interest on any such obligations to be due and payable in such year.

SECTION 8. The President of the Board is further authorized to take such actions and execute such documents as may be necessary to ensure the continued status of the interest on the obligations authorized by this resolution, and any 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 may designate the obligations authorized by this resolution, and any notes issued in anticipation thereof, as “qualified tax-exempt obligations” in accordance with Section 265(b)(3) of the Code.

SECTION 9. The President of the Board is further authorized to enter into a continuing disclosure agreement with the initial purchaser of the obligations authorized hereunder (or any bond anticipation notes issued in anticipation of the sale of such obligations), containing provisions that are satisfactory to such purchaser in compliance with the provisions of Rule 15c2-12, as promulgated by the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended.

SECTION 10. The President of the Board is further authorized to call in and redeem any outstanding obligations that were authorized hereunder (at such times and in such amounts and maturities as may be deemed appropriate after consultation with District officials and the District’s municipal advisor), to approve any related notice of redemption, and to take such actions and execute such documents as may be necessary to effectuate any such calls for redemption pursuant to Section 53.00 of the Local Finance Law, with the understanding that no such call for redemption will be made unless such notice of redemption shall have first been filed with the District Clerk.

SECTION 11. In the absence or unavailability of the President of the Board, the Vice President of the Board is hereby specifically authorized to exercise the powers delegated to the President of the Board in this

resolution.

SECTION 12. The District Clerk is hereby authorized to publish this

resolution, or a summary thereof, together with a notice in substantially the form provided by Section 81.00 of the Local Finance Law, in the official newspaper(s) of the District, or if no newspaper(s) have been so designated, then in a newspaper having general circulation in the District, which newspaper shall be designated by the Board in a separate resolution. The validity of the obligations authorized hereby, or of any bond anticipation notes issued in anticipation of the sale of such obligations, may be contested only if:

(1) (a) such obligations are authorized for objects or purposes 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 publication of this resolution (or a summary thereof) are not substantially complied with,

and an action, suit or proceeding contesting such validity is commenced within 20 days after the date of such publication; or

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

SECTION 13. This resolution is effective immediately and shall be placed in the official minutes of the Board as an official action of the Board.