Notice of Bond Resolution

NOTICE OF BOND RESOLUTION

NOTICE IS HEREBY GIVEN that the resolution published herewith has been adopted by the Village Board of the Village of Chatham, Columbia County, New York on the 4th day of September, 2025. 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. The validity of the obligations authorized by such resolution may be hereafter contested only if such obligations were authorized for an object or purpose for which the Village of Chatham 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 if such obligations were authorized in violation of the provisions of the Constitution of New York.

Desiree Kelleher, Village Clerk

Village of Chatham

BOND RESOLUTION DATED SEPTEMBER 4, 2025

A RESOLUTION AUTHORIZING THE ISSUANCE OF SERIAL BONDS OF THE VILLAGE OF CHATHAM, COLUMBIA COUNTY, NEW YORK IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $7,500,000 PURSUANT TO THE LOCAL FINANCE LAW TO FINANCE WATER SYSTEM IMPROVEMENTS IN THE VILLAGE OF CHATHAM, NEW YORK, PROVIDING THAT THIS RESOLUTION SHALL BE SUBJECT TO PERMISSIVE REFERENDUM, AND DELEGATING CERTAIN POWERS IN CONNECTION THEREWITH TO THE TREASURER

Objects or purposes: The Bond Resolution authorizes the improvement of the Village’s water system including development of a new well field including wells, pumps, and treatment building to replace a current well field contaminated with PFAS, the replacement of water mains, and related improvements, at an estimated maximum cost of $7,500,000. The aforesaid purpose constitutes a Type I action as defined under the State Environmental Quality Review Regulations, 6 NYCRR Part 617, which has been determined under SEQRA not to have a significant impact on the environment.

Period of Probable Usefulness: Forty (40) years pursuant to subdivision 1 of paragraph a of Section 11.00 of the Local Finance Law. The obligations authorized by the Bond Resolution will be in excess of five years from the original date of issuance of such obligations.

Maximum Amount of Obligations to be issued: The Board of Trustees plans to finance the total cost of said purpose by the issuance of serial bonds of the Village in an amount not to exceed $7,500,000, authorized to be issued therefor pursuant to the Local Finance Law. The Village intends to apply for available grant funding which, if awarded, would be applied to pay or reimburse a portion of such costs.

Delegation: The power to authorize bond anticipation notes in anticipation of the issuance of the serial bonds authorized by this resolution, determine the form and terms of said serial bonds, and take certain other actions is delegated to the Village Treasurer, as Chief Fiscal Officer.

A complete copy of the Bond Resolution summarized above is available for public inspection during normal business hours at the office of the Village Clerk, located at the Tracy Memorial Village Hall, 77 Main Street, Chatham, New York 12037.

Dated: October 7, 2025

Chatham, New York