EXTRACT OF MINUTES OF MEETING OF BOARD OF EDUCATION ADOPTING RESOLUTION ‘At a meeting of the Board of Education of the City School District of the City of Albany, New York, duly held in Albany, New York on the 3" day of September, 2015: Present: Ginnie Farrell Sue Adler Kenny M. Bruce Rose Brandon ‘Anne Savage Absent: None Sue Adler presented the following resolution and moved that it be adopted: RESOLUTION DATED SEPTEMBER 3, 2015 OF THE BOARD OF EDUCATION OF THE CITY SCHOOL DISTRICT OF THE CITY OF ALBANY AUTHORIZING AN AMENDED PROPOSITION TO BE PRESENTED TO THE VOTERS AT THE NOVEMBER 3, 2015 GENERAL ELECTION. WHEREAS, the Board of Education of the City School District of the City of Albany (the “District”) duly adopted a resolution on February 26, 2015 (the “Proposition Resolution”) authorizing the submission to voters of a proposition approving the issuance of not to exceed $199,500,000 aggregate principal amount of serial general obligation bonds to finance the construction of additions to and reconstruction of Albany High School, including site work, and the acquisition of original furnishings, equipment, machinery or apparatus required for the purpose for which such building is to be used, to be undertaken in two distinct phases (the “Purpose”), at a ‘maximum ageregate cost of $199,500,000, levy of tax in annual installments in payment thereof, the expenditure of such sum for such purpose, and determining other matters in connection therewith; and WHEREAS, the Board of Education has determined that the maximum aggregate cost of the Purpose is $196,000,000 and the Board of Education desires to amend the proposition to reflect the decrease in the maximum aggregate cost of the Purpose; ‘NOW THEREFOR BEIT RESOLVED BY THE BOARD OF EDUCATION OF THE CITY SCHOOL DISTRICT OF THE CITY OF ALBANY that the following proposition be presented to votets at the general election to be held on November 3, 2015: RESOLVED, shall the bond resolution adopted by the Board of Education of the City School District of the City of Albany on September 3, 2015 which authorized: (1) construction of additions to and reconstruction of Albany High School, including site 1 9456779.1 / | | i ]work, and the acquisition of original furnishings, equipment, machinery or apparatus required for the purpose for which such building is to be used, to be undertaken in two distinct phases over an approximately nine year period, the first phase to consist of the construction of additions to and reconstruction of the High School and the second phase to consist primarily (but not exclusively) of reconstruction of the existing High School, at a maximum aggregate cost of $196,000,000; (2) expendivure of such sum for such purposes; (3) levy of the necessary tax therefore, to be levied and collected in annual installments in such years and in such amounts as may be determined by the Board of Education taking into account state aid and EXCEL grants; and (4) in anticipation of the collection of such tax, issuance of bonds and notes of the District at one time or from time to time in the principal amount not to exceed $196,000,000 and levy of tax to pay interest on said obligations when due, be approved? ‘The proposition shall appear on the ballot labels of the voting machines and in the absentee ballots in the following abbreviated form: PROPOSITION Shall the bond resolution adopted by Board of Education authorizing construction of additions to and reconstruction of Albany High School, including site work, and the acquisition of original furnishings, equipment, machinery or apparatus required for the purpose for which such building is to be used, to be undertaken in two distinct phases over an approximately nine year period, at a maximum aggregate cost of $196,000,000, and providing that such sum (and the interest thereon) be raised by a tax levy to be collected in annual installments, with District obligations to be issued in anticipation thereof, be approved? ‘The vote upon such proposition shall be by machine or absentee ballot, BEIT FURTHER RESOLVED, that the District Clerk is hereby authorized and directed to include a notice of the proposition in the notice of the general election. BEIT FURTHER RESOLVED, that this resolution takes effect immediately. 9456770.1The Motion having been duly seconded by Anne Savage __, it was adopted and the following votes were cast: AYES NAYS 5 0 STATE OF NEW YORK ) ) 88. COUNTY OF ALBANY ) I, the undersigned Clerk of the City School District of the City of Albany, do hereby certify as, follows: 1. A Regular Meeting of the Board of Education of the City School District of the City of Albany, State of New York, was duly held on September 3, 2015, and Minutes of said Meeting have been duly recorded in the Minute Book kept by me in accordance with law for the purpose of recording the Minutes of meetings of said Board, I have compared the attached Extract with said ‘Minutes so recorded and said Extract is a true copy of said Minutes and of the whole thereof insofar as said Minutes relate to matters referred to in said Extracts, 2, Said Minutes correctly state the time when said Meeting was convened and the place where such meeting was held and the members of said Board who attended said Meeting. 3. Public Notice of the time and place of said Meeting was duly given to the public and the news media in accordance with the Open Meetings Law, constituting Chapter $11 of the Laws of 1976 of the State of New York, and that the members of said Board had due notice of said Meeting and that the Meeting was in all respects duly held and a quorum was present and acted throughout. IN WITNESS WHEREOF, I have hereunto set my hand and have hereunto affixed the corporate seal of the City School District of the City of Albany this 3"' day of September, 2015. Distyift Clerk [Seal] 9467.1