LEGAL NOTICE PURSUANT TO

LOCAL FINANCE LAW SECTION 81.00

            The refunding bond resolution, a summary of which is published herewith, was adopted on November 14, 2011, and the validity of the obligations authorized by such refunding bond resolution may be hereafter contested only if such obligations were authorized for an object or purpose for which the Village of Fairport 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.

                                                                        Laura K. Wharmby

                                                                        Village Clerk

                                                                        Village of Fairport, New York

A REFUNDING BOND RESOLUTION DATED NOVEMBER 14, 2011 AUTHORIZING THE ISSUANCE PURSUANT TO SECTION 90.10 OF THE LOCAL FINANCE LAW OF REFUNDING BONDS OF THE VILLAGE OF FAIRPORT, NEW YORK, TO BE DESIGNATED SUBSTANTIALLY AS “REFUNDING (SERIAL) BONDS” AND PROVIDING FOR OTHER MATTERS IN RELATION THERETO AND THE PAYMENT OF THE BONDS TO BE REFUNDED THEREBY.

Object or Purpose:                           To authorize the refunding of a portion of up to $4,500,000 presently outstanding aggregate principal amount of two (2) existing Public Improvement (Serial) Bond Issues.

Par Amount of

Refunding Bonds:                           Presently estimated to be $4,100,000, but not to exceed $4,300,000.

Net Premium:                                   Presently estimated to be $198,677.60

Maximum Permissible

Term of Any

Borrowing:                                                     Up to 15 years for a portion of the underlying issue, up to 20 years for a portion of the underlying issue, and up to 30 years for a portion of the underlying issue, each computed from the date of the first debt obligations issued therefor.

Delegation to

Village Treasurer:                            The Village Treasurer, as chief fiscal officer of the Village of Fairport, is delegated all powers to accomplish such refunding as provided in Section 90.10 of the Local Finance Law and the final Refunding Financial Plan shall be filed by the Village Treasurer with the Village Clerk after issuance of the Refunding Bonds.

A complete copy of the refunding bond resolution summarized above shall be available for public inspection during normal business hours at the office of the Village Clerk of the Village of Fairport, Fairport, New York.

Dated:            November 14, 2011

                        Fairport, New York