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SECTION 1. The Village is hereby authorized to undertake the Project and to issue up to $360,000 principal amount of serial bonds (including without limitation, statutory installment bonds) pursuant to provisions of Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York (the “Law”) to finance the estimated costs of the Project, or bond anticipation notes in anticipation of such bonds. SECTION 2. It is hereby determined that the maximum estimated cost of the Project is $360,000, said amount is hereby appropriated therefor and the plan for the financing thereof shall consist of (i) the issuance of up to $360,000 in serial bonds of the Village, or bond anticipation notes issued in anticipation of such serial bonds and (ii) unless paid from other sources, the levy and collection of taxes on all the taxable real property in the Village to pay the principal of said bonds or bond anticipation notes and the interest thereon as the same shall become due and payable. SECTION 3. It is hereby determined that the period of probable usefulness of the aforementioned specific object or purpose is ten (10) years, pursuant to subdivision 27-a. of paragraph a. of Section 11.00 of the Law. SECTION 4. The final maturity of the bonds herein authorized to be issued shall be in excess of five (5) years measured from the date of issuance of the first serial bond or bond anticipation note issued pursuant to this resolution. SECTION 5. The temporary use of available funds of the Village, 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 this resolution. The Village shall reimburse such expenditures with the proceeds of the bonds or bond anticipation notes authorized by this resolution. This resolution shall constitute a declaration of official intent to reimburse the expenditures authorized herein with the proceeds of the bonds and bond anticipation notes authorized herein, as required by United States Treasury Regulations Section 1.150-2. SECTION 6. Each of the serial bonds authorized by this resolution and any bond anticipation notes issued in anticipation of said bonds shall contain the recital of validity prescribed by Section 52.00 of the Law and said serial bonds and any bond anticipation notes issued in anticipation of said bonds shall be general obligations of the Village, payable as to both principal and interest by a general tax upon all the real property within the Village subject to applicable statutory limits, if any. The faith and credit of the Village are hereby irrevocably pledged to the punctual payment of the principal and interest on said serial bonds and bond anticipation notes and provisions shall be made annually in the budget of the Village 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 7. 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 serial bonds and bond anticipation notes or the renewals of said obligations and of Sections 21.00, 50.00, 54.90, 56.00 through 60.00, 62.10 and 63.00 of the Law, the powers and duties of the Board relative to authorizing serial bonds and bond anticipation notes and prescribing terms, form and contents as to the sale and issuance of bonds herein authorized, including without limitation the determination of whether to issue bonds having substantially level or declining debt service and all matters related thereto, and of any bond anticipation notes issued in anticipation of said bonds, and the renewals of said bond anticipation notes, are hereby delegated to the Village Treasurer, as the chief fiscal officer of the Village (the “Village Treasurer”). Further, pursuant to paragraph b. of Section 11.00 of the Law, in the event that bonds to be issued for any of the specific objects or purposes authorized by this resolution are combined for sale, pursuant to patagraph c. of Section 57.00 of the Law, with bonds to be issued for one or more objects or purposes