The wording that appears below is what voters will see in the voting machine on Tuesday, May 18. Please take the time to review this information so that the language is familiar when you go to the polls on May 18. Budget Propositions 1, 3 and 4 appear here.

PROPOSITION NO. 2

LAND ACQUISITION, NEW BUS GARAGE FACILITY AND DISTRICT-WIDE CAPITAL IMPROVEMENTS PROJECT

Shall the following resolution be adopted, to wit:

“RESOLVED, that (a) the Board of Education (the “Board”) of the Holley Central School District (the “District”) is hereby authorized to undertake a District-wide capital improvements project pursuant to which the District would (i) acquire a 43.73 +/- acre parcel of land adjacent to District property for a purchase price of $160,000, plus closing costs estimated at $3,000, (ii) construct a new bus garage (3 ½ bay, 10,000 +/- s.f.) facility and (iii) reconstruct and renovate, in part, and construct improvements and additions to various District buildings and facilities (and the sites thereof), and undertake various other measures generally described in (but not to be limited by) the Project Plan referred to in the public notice of the vote hereon, all at a maximum estimated cost of $27,360,000 (which figure includes the amount for the purchase of land referred to above); (b) the District is hereby authorized to expend or apply funds in the amount of $2,000,000 from the District’s Capital Reserve Fund-2007 to finance a portion of such cost; (c) a tax is hereby voted in an amount not to exceed $25,360,000 to finance the balance of such cost, such tax to be levied and collected in installments in such years and in such amounts as shall be determined by the Board; (d) in anticipation of such tax, obligations of the District are hereby authorized to be issued in the aggregate principal amount of not to exceed $25,360,000, and a tax is hereby voted to pay the interest on such obligations as the same shall become due and payable; and (e) New York State Building Aid (including EXCEL Aid Funds) expected to be received by the District are anticipated to offset a substantial part of such costs, and such funds, to the extent received, shall be applied to offset and reduce the amount of taxes herein authorized to be levied (along with available funds of the District in an amount sufficient to reduce the anticipated impact of the Project on the District’s tax levy to zero).

NOTICE IS ALSO GIVEN that an Environmental Assessment Form has been completed for the project described in Proposition No. 2, which constitutes a Type I action under the State Environmental Quality Review Act (“SEQRA”), a thorough review of such project’s potential environmental impacts has been undertaken, it has been found that such project will not result in a significant adverse impact on the environment, and a reasoned elaboration of the SEQRA review and findings has been provided in a Negative Declaration.”