PROPOSITION 1

YES [ ] NO [ ]

RESOLVED:

(a) That the Board of Education of the Yorktown Central School District (the "District") is hereby authorized to reconstruct and/or replace various elementary school roofs; and to expend therefor, including preliminary costs and costs incidental thereto and to the financing thereof, an amount not to exceed the estimated maximum cost of $2,400,000;

(b) that a tax is hereby voted therefor in the amount of not to exceed $2,400,000 to finance such cost, such tax to be levied and collected in installments in such years and in such amounts as shall be determined by said Board of Education; and

(c) that in anticipation of said tax, the Board of Education may authorize the issuance of bonds of the District in the aggregate principal amount of not to exceed $2,400,000, and a tax is hereby voted to pay the interest on said bonds as the same shall become due and payable.

PROPOSITION 2

YES [ ] NO [ ]

RESOLVED:

That the Board of Education of the Yorktown Central School District, in the County of Westchester, New York (the "District"), is hereby authorized to establish a capital reserve fund pursuant to §3651 of the Education Law, to be designated "District-wide Renovations, Reconstruction and Construction Reserve Fund," (the "Fund") the probable term of which will not exceed five (5) years from the date of its establishment; which shall be for a part of the renovation, reconstruction and construction of District buildings, including planning costs, site work and renovation, reconstruction and construction costs; the ultimate amount of such fund shall be $500,000, to be transferred from designated fund balance in the general fund to the Fund.