GILBERTSVILLE — The Gilbertsville-Mount Upton Central School District will hold a February 7 vote on two propositions related to the purchase of new school buses, which will not increase the school tax levy. Voting will take place from noon to 8 p.m. on February 7 at the Gilbertsville-Mount Upton Central School District.
Please note that residents must present identification to vote on the following propositions:
Proposition 1: Bus Purchase
Shall the following resolution be adopted, to-wit: RESOLVED, shall the Gilbertsville-Mount Upton Central School District, Otsego County, New York, be authorized to purchase two 66-passenger school buses and to expend therefore a maximum estimated cost not to exceed three hundred twenty five thousand, two hundred dollars ($325,200), including incidental expenses in connection therewith, and that $325,200 Capital Reserve Fund monies shall be used to pay the cost thereof?
Proposition 2: Establishment of Capital Reserve Fund
Shall the following resolution be adopted, to-wit: RESOLVED, shall the Board of Education of the Gilbertsville-Mount Upton Central School District be authorized to establish a Capital Reserve Fund pursuant to Section 3651 of the Education Law to be designated “Vehicle and Equipment Reserve Fund” in order to pay costs of the purchase of the school transportation vehicles and maintenance equipment, and, in order to accomplish the same, said Board is hereby authorized to establish the ultimate amount of such Reserve Fund not to exceed $750,000, plus accrued interest and other investment earnings thereon, with a probable term of ten years and, to appropriate annually from available fund balance and/or other legally available funds of the School District to such Reserve Fund?
-Information from the Gilbertsville-Mount Upton CSD