NOTICE

PURSUANT TO LOCAL FINANCE LAW

SECTION 81.OO

The supplemental bond resolution published herewith was adopted on November

17,2025, and the validity of the obligations authorized by such bond resolution may be

hereafter contested only if such obligations were authorized for an object or purpose for

which the Village of Portville is not authorized to expend money or 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 (20) days after the date of publication of this notice,

or such obligations were authorized in violation of the provisions of the Constitution.

The supplemental bond resolution was subject to a permissive referendum pursuant to

Section 36.00 of the Local Finance Law. The period of time has elapsed for the

submission and filing of a petition for a permissive referendum and a valid petition has

not been submitted and filed.

SUPPLEMENTAL BOND RESOLUTION DATED NOVEMBER 17, 2025 OF THE

BOARD OF TRUSTEES OF THE VILLAGE OF PORTVILLE, NEW YORK,

AUTHORIZING GENERAL OBLIGATION SERIAL BONDS TO FINANCE WATER

IMPROVEMENTS, AUTHORIZING THE ISSUANCE OF BOND ANTICIPATION

NOTES IN CONTEMPLATION THEREOF, EXPENDITURES FOR SUCH PURPOSE,

AND DETERMINING OTHER MATTERS IN CONNECTION THEREWITH.

WHEREAS, pursuant to a bond resolution dated January 19,2021 (the "Original

Bond Resolution") the Board of Trustees of the Village of Portville, New York

(hereinafter referred to as the "Village") approved expenditures for, and the issuance

and sale of, up to $5,500,000 aggregate principal amount of general obligation bonds

and bond anticipation notes relative to the construction of water improvements; and

WHEREAS, the Village has duly authorized an additional increase and

improvement of facilities, and the actual project costs, including such additional

improvements, have proved to be approximately $1,500,000 higher than the maximum

estimated project costs and the Village desires to provide for the financing thereof by

supplementing the Original Bond Resolution by the adoption of this Supplemental Bond

Resolution; and

WHEREAS, the Village, acting as lead agency under the State Environmental

Quality Review Act and the applicable regulations promulgated thereunder ("SEQRA"),

has completed its environmental review and, on December 21,2020, has duly adopted

a negative declaration with respect to the type I action and has determined that the

implementation of the action as proposed will not result in any significant adverse

environmental impacts; now therefor, be it

RESOLVED BY THE BOARD OF TRUSTEE OF THE VILLAGE OF PORTVILLE,

NEW YORK, by the favorable vote of not less than two{hirds of all of the members of

such Board, as follows:

Section 1. The Village of Portville shall continue to undertake the acquisition

and construction of water improvements, consisting of construction of water system

improvements, to include, without limitation, the replacement of existing water main,

improvements to the water storage tanks, improvements to the groundwater treatment

wells and buildings, the installation of controls and emergency power, water meter

replacement, the reinstatement of one groundwater well, and the acquisition of original

furnishings, equipment, machinery or apparatus, or the replacement of such equipment,

machinery or apparatus, and other incidental improvements that may be required in

connection therewith for such construction and Village use as set forth in the Original

Bond Resolution(hereinafter referred to as "purpose"), in an additional amount not to

exceed $1,500,000, and additional general obligation serial bonds in an aggregate

principal amount not to exceed $250,000 and bond anticipation notes in anticipation

thereof (and renewals thereof) of the Village are now hereby authorized to be issued to

finance such additional costs of said purpose and said additional amount is hereby

appropriated therefor.

Section 2. The aggregate maximum cost of said purpose, including

preliminary costs and costs incidental thereto and costs of the financing thereof, is now

estimated to be $7,000,000. The plan for financing of said purpose is to provide up to

$5,500,000 of such maximum cost by the issuance of bonds or bond anticipation notes

as authorized under the Original Bond Resolution and to provide up to $250,000 of such

maximum cost by the issuance of bonds or bond anticipation notes as herein

authorized, and to provide the balance of $1,250,000 from a State and Tribal Assistance

(STAG) Grant.

Section 3. lt is hereby determined and declared that (a) said purpose is one of

the class of objects or purposes described in Subdivision 1 of Paragraph (a) of Section

11.00 of the Local Finance Law, and that the period of probable usefulness of said

purpose is forty (40) years, (b) the proposed maximum maturity of said bonds

authorized by this resolution will be in excess of five years, (c) current funds required to

be provided prior to the issuance of the bonds or notes herein authorized, pursuant to

Section 107.00 of the Local Finance Law, to the extent applicable, if any, will be

provided, (d) the notes herein authorized are issued in anticipation of bonds for an

assessable improvement, and (e) there are presently no outstanding bond anticipation

notes issued in anticipation of the sale of said bonds.

Section 4. The bonds and notes authorized by this resolution shall contain the

recital of validity prescribed in Section 52.00 of the Local Finance Law and such bonds

and notes shall be general obligations of the Village and all the taxable real property in

the Village is subject to the levy of ad valorem taxes to pay the princlpal thereof, and

interest thereon, without limitation as to rate or amount, subject to statutory limitations, if

any.

Section 5. lt is hereby determined and declared that the Village reasonably

expects to reimburse the general fund, or such other fund as may be utilized, not to

exceed the maximum amount authorized herein, from the proceeds of the obligations

authorized hereby for expenditures, if any, from such fund that may be made for the

purpose prior to the date of the issuance of such obligations. This is a declaration of

official intent under Treasury Regulation S1.150-2.

Section 6. The power to further authorize the sale, issuance and delivery of

said bonds and notes and to prescribe the terms, form and contents of said bonds and

notes, including, without limitation, the power to contract and issue indebtedness

pursuantto $169.00 of the Local Finance Law, if applicable, the consolidation with other

issues, the determination to issue bonds with substantially level or declining annual debt

service, all contracts for, and determinations with respect to, credit or liquidity

enhancements, if any, and to sell and deliver said bonds and notes, subject to the

provisions of this resolution and the provisions of the Local Finance Law, is hereby

delegated to the Village Treasurer, the Village's chief fiscal officer. The Village

Treasurer and the Village Clerk or Deputy Clerk are hereby authorized to sign by

manual or facsimile signature and attest any bonds and notes issued pursuant to this

resolution, and are hereby authorized to affix to such bonds and notes the corporate

seal of the Village of Portville.

Section 7. The faith and credit of the Village of Portville, New York, are hereby

irrevocably pledged for the payment of the principal of and interest on such bonds and

notes as the same respectively become due and payable. Such bonds and notes shall

be payable from a levy on real property in such district benefitted or user charges

therefor in the manner provided by law, but if not paid from such source, all the taxable

real property within said Village shall be subject to the levy of an ad valorem tax, without

limitation as to rate or amount, sufficient to pay the principal of and interest on said

bonds and notes. 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.

Section 8. After compliance with Section t hereof, this resolution, or a

summary hereof, shall be published in full by the Village Clerk of the Village of Portville

together with a notice in substantially the form prescribed by Section 81.00 of said Local

Finance Law, and such publication shall be in each official newspaper of the Village, in

the manner prescribed by law. The validity of said bonds and bond anticipation notes

issued in anticipation of the sale of said serial bonds, may be contested only if such

obligations are authorized for an object or purpose for which said Village 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 9. This resolution is subject to a permissive referendum of the

qualified electors of the Village of Portville, pursuant to Section 36.00 of the Local

Finance Law.