Onondaga Civic Development Corporation 333 WEST WASHINGTON STREET, SUITE 130, SYRACUSE, NY 13202 PHONE: 315.435.3770 FAX: 315.435.3669 ONGOVED.COM
OCDC Regular Meeting Agenda 10:30 a.m. at the Onondaga County Office of Economic Development July 26, 2021
10:30 a.m. Call to Order
A. Approval of June 17, 2021 Meeting Minutes B. Treasurer’s Report C. Payment of Bills D. Conflict of Interest
Action Items
1. Bond Refinancing – Onondaga Free Library This entity requests the refinancing of bonds issued in 2008.
Board Action Requested: A final authorizing resolution of the Board approving the issuance of the Onondaga Civic Development Corporation Civic Facility Revenue Refunding Bonds to the Onondaga Free Library for the purpose of refunding all or a portion of the outstanding principal amount $3,000,000 original principal amount Onondaga County Industrial Development Agency Civic Facility Revenue Bonds and authorizing an officer of the Corporation to sign necessary contracts and documents to effectuate the foregoing.
Representative: Robert Petrovich – President/CEO, OCDC Susan Morgan – Onondaga Free Library Matthew Wells – Bond Schoeneck and King
2. Request for Financing – Wayne’s Canine Carnival This entity requests financial support for its annual philanthropic animal adoption event to be held at Jamesville Beach Park
Board Action Requested: Consideration of the submitted application
Representative: Carrie Wojtaszek – Chief Operating Officer, Galaxy Media
ADJOURN
ONONDAGA CIVIC DEVELOPMENT CORPORATION Regular Meeting Minutes June 17, 2021
The Regular meeting of the Onondaga Civic Development Corporation convened on Thursday, June 17, 2021 via Zoom Teleconference.
Michael LaFlair called the meeting to order at 8:55 am with the following:
PRESENT: Michael LaFlair Alison Miller Mitch Latimer Gerald Albrigo Kevin Kuehner Kimberly Townsend
ABSENT:
ALSO PRESENT: Robert M. Petrovich, President/CEO Carolyn Evans-Dean, Secretary Nate Stevens, Treasurer Karen Doster, Recording Secretary Christopher Andreucci, Harris Beach PLLC Michael Bower, Eagle Metalcraft Kyle Michael, Armoured One Susan Morgan, Onondaga Free Library Matthew Well, Bond Schoeneck & King
APPROVAL OF REGULAR MEETING MINUTES MARCH 11, 2021
Upon a motion by Gerald Albrigo, seconded by Kevin Kuehner, the OCDC Board approved the regular meeting minutes of March 11, 2021. Motion was carried unanimously.
TREASURER’S REPORT
Nate Stevens gave a brief review of the Treasurer’s Report for the month ending May 2021.
Upon a motion by Gerald Albrigo, seconded by Mitch Latimer, the OCDC Board approved the Treasurer’s Report for the month ending May 2021. Motion was carried unanimously.
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PAYMENT OF BILLS
Nate Stevens gave a brief review of the Payment of Bills, Schedule #96.
Upon a motion by Mitch Latimer, seconded by Kimberly Townsend, the OCDC Board approved the Payment of Bills scheduled #96 with General Expenses being $44,409.50. Motion was carried unanimously.
CONFLICT OF INTEREST
Carolyn Evans-Dean did a roll call asking Board Members to recognize any conflicts.
Michael LaFlair – no conflicts Alison Miller – no conflicts Gerald Albrigo – no conflicts Mitch Latimer – no conflicts Kevin Kuehner – no conflicts Kimberly Townsend – no conflicts
FUNDING REQUEST – EAGLE METALCRAFT
Michael Bower stated Eagle Metalcraft is a small 68 year old business with 18 employees to date. He stated they are in a situation where they can actually grow, expand the business and bring on more people. He stated one of the things they struggle with is the ISO 9000 certification and training. He stated the challenge they have is being small and being able to train new employees because the challenge of finding the skilled trades and experienced people is a real challenge globally. He state they have brought a few folks in for training. He state they have two new entry level people that they have been investing in and training but that takes away from the people who are doing the work. He stated one of the things they are trying to get help with is an outside group to help them do their trainings. He stated the ISO 9000 more importantly than just the certification, is the training part. He stated there is a lot of system controls that will help as they bring on new folks to keep their quality standard and to maintain it so he looks at it more globally. He stated they do precision sheet metal, precision machining. He stated their average labor rate is $23 but 2 they have brand new people at $17 all the way up to $31. He stated it is a pretty good rate for people in this industry and they want to pay people who are tenured. He stated their legacy folks are 20-25 years. He stated they have one person who has been there for 55 years and some in their 40’s and some in their 30’s. He stated they have very tenured very experienced people. He stated their future is going to be based on the newer people they can bring in so they really need that help to get them trained and invest in them. He stated they are excited about it and they are hoping to get some help and support the long term growth of the business.
Upon a motion by Kevin Kuehner, seconded by Mitch Latimer, the OCDC Board approved a resolution approving the Employee Productivity application for Eagle Metalcraft for up to $12,500. Motion was carried unanimously.
EPP FUNDING REQUEST – ARMOURED ONE
Kyle Michael stated Armoured One was established in 2013 and they specialize in security glass predominantly for schools and municipalities. He stated they have a training division but their main product is shooter attack glass. He stated they have continued R & D and they recently passed their ISO 9001 certification bringing in a consultant. He stated there are a lot of other training areas with a lean company and pulling bodies away from different areas, creates a challenge and creates voids for every day operations. He stated bringing on different people to assist with the training that are experts in the field provides a lot of needed help when running a lean operation. He stated some of these are already in progress because he did not know how the application process was going to go. He stated some of the training was an absolute necessity so they have already jumped the gun as far as getting a lot things in place. He stated they are trying to bring more people on board and recently hired 5 new people. He stated they are continuously looking for new laborers and workers not only on the floor/manufacturing side but also the administrative side. He stated they are trying to get people trained and specialized especially with quality control. He stated he comes from a quality background but having only one person makes it challenging so having additional help and assistance with this training is greatly needed.
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Upon a motion by Kevin Kuehner, seconded by Alison Miller, the OCDC Board approved a resolution accepting the Employee Productivity application for Armoured One for up to $10,200. Motion was carried unanimously.
BOND REFINANCING – ONONDAGA FREE LIBRARY
Chris Andreucci stated this is an application and inducement for a bond deal to refinance bonds issued originally by the Onondaga County Industrial Development Agency. He stated it is a $2,000,000 refinance that will save the library money and allow them to continue their mission. He stated there is no new money here, no new project and just a straight refinancing so should be straight forward. He stated the idea is to close prior to the next interest payment date which is September 1, 2021 and all things indicate that we will be able to do that.
Matt Wells stated in 2008 the OCIDA helped finance a library construction project. He stated given current market conditions the library has an opportunity to refinance those bonds and achieve interest cost savings in excess of $400,000 of the life of the bonds which equates to 10’s of thousands of dollars a year which is real money to the library. He stated there is no new money and pretty straight forward.
Upon a motion by Kimberly Townsend, seconded by Kevin Kuehner, the OCDC Board approved a resolution for the issuance of the Onondaga Civic Development Corporation Civic Facility Revenue Refunding Bonds to the Onondaga Free Library for the purpose of refunding all or a portion of the outstanding principal amount $3,000,000 original principal amount Onondaga County Industrial Development Agency Civic Facility Revenue Bonds and authorizing an officer of the Corporation to sign necessary contracts and documents to effectuate the foregoing. Motion was carried unanimously.
HANCOCK AIR PARK – LAWN & LANDSCAPE CONTRACT
Nate Stevens stated OCDC has been managing the Hancock Airpark over the last several years and part of our responsibilities includes mowing the lawn. He stated in accordance with the procurement policy we have rebid out the work and want to award it to the lowest. 4
Mike LaFlair stated there are only a few bids and to keep everyone in line for future proposals the numbers were not discussed.
Upon a motion by Gerald Albrigo, seconded by Mitch Latimer, the OCDC Board approved a resolution awarding the lawn and landscape contract to the lowest bid. Motion was carried unanimously.
Mike LaFlair asked if the Board will be staying with the Zoom meetings for a while. Carolyn Evans-Dean stated a firm decision has not been made yet but she believes the intention is to get back to in person meetings as much as possible.
Upon a motion by Mitch Latimer, seconded by Kevin Kuehner, the OCDC Board adjourned the meeting at 8:27 am. Motion was carried unanimously.
______Carolyn Evans-Dean, Secretary
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ONONDAGA CIVIC DEVELOPMENT CORPORATION 333 WASHINGTON STREET, SUITE 130, SYRACUSE, NY 13202 PHONE: 315.435.3770 • FAX: 315.435.3669
June 30, 2021 2021 Budget Current YTD Revenue / Expense / Income Current Period Year to date Amount Change to Budget Operating Revenue 11,679 27,541 447,000 (419,459) Administrative Expense 6,727 32,740 139,400 (106,660) Operating/Program Exp. 15,933 76,401 307,600 (231,199) Net Ordinary Income (10,981) (81,600) - (81,600)
Current Assets Current YTD Prior YTD Total Cash 748,411 356,311 Less Pass Through Received - - Available Cash 748,411 356,311 Receivables 181,641 220,874 Other - Total 930,052 577,185
Reserve for Contracts County Operations 106,660 Marketing 1,000 Economic Growth Fund 2021 155,000 Economic Growth Fund Previous Contracts 257,989 Rent 61,163 Furniture & Equipment 760 Micro Loan Loss Fund 54,200 ETL Food Co-op Loan Guarantee 75,000 Downtown Comm. GIS Payment 2016/17 1,500 Academy at Syracuse Studios Loan 125,000 Total 838,272
Receivables 0-120 days 25,500
> 120 days 156,141
Total 181,641 ONONDAGA CIVIC DEVELOPMENT CORPORATION 333 WASHINGTON STREET, SUITE 130, SYRACUSE, NY 13202 PHONE: 315.435.3770 • FAX: 315.435.3669
June 30, 2021
Growth Fund Detail
Contract Service Provider Amount Approval Date Amount Paid Contract Due Contract 2019 Service Contracts Amount Approval Date Amount Paid Contract Due SUNY ESF Water Protection $99,999 8/22/2019 $53,645 $46,354 2019 Total Due $46,354 Contract 2020 Service Contracts Amount Approval Date Amount Paid Contract Due G&C Foods EPP $12,500 12/10/2020 $0 $12,500 Outdoor Dining Grants $200,000 10/28/2020 $6,365 $193,635 SOCPA GIS App Upgrade $5,500 12/10/2020 $0 $5,500 2020 Total Due $211,635
2021 GF 2021 Budget 2021 Service Contracts Budget 2021 Contracts Remaining $155,000 $22,700 $132,300
Eagle Metalcraft EPP $12,500 6/17/2021 Armoured One EPP $10,200 6/17/2021 Reserved Previous Contracts $257,989 Onondaga Civic Development Corporation
Profit and Loss June 2021
TOTAL Income 45000 Non-Operating Revenue 45030 Interest 45030.1 Bank Interest 6.61 45030.2 Q-E Interest 250.00 Total 45030 Interest 256.61 45050 Other Non-Operating Revenue 11,422.23 Total 45000 Non-Operating Revenue 11,678.84 Total Income $11,678.84 GROSS PROFIT $11,678.84 Expenses 62000 Operating Expenses 62890 Rent 9,989.72 63000 Administrative Expense 6,726.67 65010 Office Expense 65010.1 Copier 483.06 65010.2 Internet 259.99 Total 65010 Office Expense 743.05 65060 Accounting/Audit 5,200.00 Total 62000 Operating Expenses 22,659.44 Total Expenses $22,659.44 NET OPERATING INCOME $ -10,980.60 NET INCOME $ -10,980.60
Accrual Basis Wednesday, July 14, 2021 10:30 AM GMT-04:00 1/1 Onondaga Civic Development Corporation
Balance Sheet As of June 30, 2021
TOTAL ASSETS Current Assets Bank Accounts 100.5 M&T M-M Savings 317,427.32 101 Petty Cash 9.13 102 First Niagara Checking 5,881.09 103 M&T Checking 425,093.71 Total Bank Accounts $748,411.25 Other Current Assets 450 Loans Rec. 451 Quasi Equity Rec 451.2 Sly Tech 31,140.87 Total 451 Quasi Equity Rec 31,140.87 455 CoVid 19 Loans 455.1 Brasserie 15,000.00 455.5 ReFit 4,500.00 455.9 Back to the Future Chiropatric 3,000.00 455.91 Via Mondo 3,000.00 Total 455 CoVid 19 Loans 25,500.00 456 Syracuse Studios Loan 125,000.00 Total 450 Loans Rec. 181,640.87 Total Other Current Assets $181,640.87 Total Current Assets $930,052.12 Fixed Assets 15000 Furniture and Equipment 14,923.00 Total Fixed Assets $14,923.00 TOTAL ASSETS $944,975.12
Accrual Basis Wednesday, July 14, 2021 10:30 AM GMT-04:00 1/2 Onondaga Civic Development Corporation
Balance Sheet As of June 30, 2021
TOTAL LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts Payable 600 Accounts Payable 0.00 600.2 Mileage Reimbursement -63.07 600.3 OED Contract 32,759.67 Total 600 Accounts Payable 32,696.60 Total Accounts Payable $32,696.60 Total Current Liabilities $32,696.60 Total Liabilities $32,696.60 Equity 31500 Reserve for Contracts 782,572.90 31700 Reserved for Micro Loan loss 54,200.00 31725 Downtown Comm GIS Pre-payment 1,500.00 Total 31500 Reserve for Contracts 838,272.90 31600 Equity - Unreserved -782,572.67 32000 Unrestricted Net Assets 938,178.58 Net Income -81,600.29 Total Equity $912,278.52 TOTAL LIABILITIES AND EQUITY $944,975.12
Accrual Basis Wednesday, July 14, 2021 10:30 AM GMT-04:00 2/2 ONONDAGA CIVIC DEVELOPMENT CORPORATION PAYMENT OF BILL - SCHEDULE #97 July 26, 2021
GENERAL EXPENSES
1. TIME WARNER CABLE* $ 259.99 Inv#846945301030221, June 2021 Internet
2. WASHINGTON/WALTON COMPANY, LLC** $ 9,989.72 July 2021 Rent
3. TOSHIBA FINANCIAL SERVICES** $ 312.89 Inv#446248403 Jun-Jul 2021 Copier Service
4. TIME WARNER CABLE** $ 259.99 Inv#846945301070221, July 2021 Internet
5. HARRIS BEACH PLLC $ 4,074.00 Inv#8808032 & 8812200, Legal thru 6/30/2021
Total $ 14,896.59
* Ratification of Check dated June 21, 2021 ** Ratification of Checks dated July 12, 2021
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BOND RESOLUTION (Onondaga Free Library Project)
A regular meeting of the Onondaga Civic Development Corporation was convened on Thursday, July 8, 2021, at 8:30 a.m.
The following resolution was duly offered and seconded, to wit:
RESOLUTION AUTHORIZING THE ISSUANCE, EXECUTION, SALE AND DELIVERY OF THE ONONDAGA CIVIC DEVELOPMENT CORPORATION'S TAX-EXEMPT REVENUE REFUNDING BONDS, SERIES 2021 (ONONDAGA FREE LIBRARY PROJECT), IN ONE OR MORE SERIES AND IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $2,500,000 AND THE EXECUTION AND DELIVERY OF RELATED DOCUMENTS
WHEREAS, pursuant to the purposes and powers contained within Section 1411 of the Not-for-Profit Corporation Law ("N-PCL") of the State of New York (the "State"), as amended (hereinafter collectively called the "Act"), and pursuant to its certificate of incorporation filed on August 10, 2009 and the Certificate of Amendment of the Certificate of Incorporation of the Onondaga Civic Development Corporation filed on October 5, 2009 (collectively, the "Certificate"), the ONONDAGA CIVIC DEVELOPMENT CORPORATION (the "Issuer") was established as a not-for-profit local development corporation of the State with the authority and power to own, lease and sell personal and real property for the purposes of, among other things, acquiring, constructing and equipping certain projects exclusively in furtherance of the charitable or public purposes of relieving and reducing unemployment, promoting and providing for additional and maximum employment, bettering and maintaining job opportunities, instructing or training individuals to improve or develop their capabilities for such jobs, by encouraging the development of, or retention of, an industry in the community or area, and lessening the burdens of government and acting in the public interest; and
WHEREAS, ONONDAGA FREE LIBRARY (the "Library"), a free association library and a New York not-for-profit corporation chartered by the New York State Board of Regents- State Education Department and holding Section 501(c)(3) status under the Internal Revenue Code of 1986, as amended as amended (the "Code"), previously submitted an application (the "Application") to the Issuer requesting that the Issuer issue its Revenue Refunding Bonds (Onondaga Free Library Project), Series 2021, in one or more series in the aggregate not to exceed $2,500,000 (the "Series 2021 Bonds") for the purpose of financing a project (the "Project") for the benefit of Library consisting of: (A) the refunding all or a portion of the outstanding principal amount $3,000,000 original principal amount Onondaga County Industrial Development Agency Civic Facility Revenue Bonds (Onondaga Free Library Project), Series 2008 (the "Series 2008 Bonds"), the proceeds of which were used to finance a certain project consisting of (1) the acquisition by the Issuer of an interest in certain lands of the Library located at 4840 West Seneca Turnpike in the Town of Onondaga, Onondaga County, New York (the "Land"), together with the existing 7,000 square-foot public library located thereon (the
Page 1 Error! Unknown document property name.
"Existing Improvements'); (2) the renovation of the Existing Facility and the construction of an approximately 15,000 square foot addition to the Existing Facility (the "Addition"; and, together with the Existing Facility referred to as the "Facility"); and (3) the acquisition and installation in and around the Facility of certain machinery and equipment (collectively, the "Equipment"; and, together with the Land and the Facility being collectively referred to as the "Project Facility"); and (B) funding a debt service reserve fund, if any, and paying capitalized interest, if any, and certain other costs incidental to the issuance of the Series 2021 Bonds (the costs associated with items (A) and (B) above being hereinafter collectively referred to as the "Project Costs"); and
WHEREAS, the Issuer is contemplating providing financial assistance to the Library with respect to the Project (collectively, the "Financial Assistance") in the form of the issuance of the Series 2021 Bonds in an amount not to exceed the lesser of the Project Costs or $2,500,000; and
WHEREAS, the Series 2021 Bonds are being issued pursuant to an Indenture of Trust, to be dated as of August 1, 2020 (the "Indenture"), or such other date acceptable to the Chairperson or the President/CEO of the Issuer (each an "Authorized Officer"), by and between the Issuer and Manufacturers and Traders Trust Company, as trustee, or such other trustee acceptable to the Authorized Officer (the "Trustee"); and
WHEREAS, the Series 2021 Bonds will be purchased initially by Robert W. Baird & Co., Inc. (the "Underwriter"), pursuant to a certain Bond Purchase Agreement, to be dated August 1, 2020 (the "Bond Purchase Agreement"), or such other date acceptable to the Authorized Officer, from the Underwriter and accepted by the Issuer and the Library; and
WHEREAS, the Issuer will loan the net proceeds derived from the issuance of the Series 2021 Bonds to the Library pursuant to a certain Loan Agreement, to be dated as of August 1, 2021 (the "Loan Agreement"), or such other date acceptable to the Authorized Officer, by and between the Issuer and the Library, with the payments made by the Library thereunder being sufficient to pay the principal of, premium, if any, and interest on the Series 2021 Bonds; and
WHEREAS, as security for the Series 2021 Bonds: (i) the Issuer will assign to the Trustee all of its rights under the Loan Agreement (except the Unassigned Rights, as defined in the Indenture) pursuant to the terms of a certain Pledge and Assignment with an Acknowledgement thereof by the Library, to be dated as of August 1, 2021 (the "Assignment"), or such other date acceptable to the Authorized Officer, from the Issuer to the Trustee; and (ii) the Library will assign its rights in the Annual Tax (as defined in the hereinafter defined Fiscal Agency Agreement) pursuant that certain Fiscal Agency Agreement, to be dated as of August 1, 2021 (the "Fiscal Agency Agreement"), or such other date acceptable to the Authorized Officer, by and among Manufacturers and Traders Trust Company, as Fiscal Agent, the Library, the Town of Onondaga (the "Town") and the Issuer; and
WHEREAS, the interest rate or rates payable on the Series 2021 Bonds and certain other terms of the Series 2021 Bonds will be determined by the Underwriter following the circulation of a preliminary version of an official statement (the "Preliminary Official Statement") and the Underwriter will utilize an official statement (the "Official Statement") in connection with the
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sale of the Series 2021 Bonds; and
NOW, THEREFORE, BE IT RESOLVED by the Onondaga Civic Development Corporation as follows:
Section 1. It is the policy of the State to promote the economic welfare, recreation opportunities and prosperity of its inhabitants and to actively promote, attract, encourage and develop recreation and economically sound commerce and industry for the purpose of preventing unemployment and economic deterioration.
Section 2. It is among the purposes of the Issuer to promote, develop, encourage and assist in the acquisition, construction, rehabilitation and improvement of facilities for not-for profit corporations and thereby relieve and reduce unemployment, better and maintain job opportunities and lessen the burdens of government.
Section 3. Based upon representations made by the Library to the Issuer, the Issuer makes the following findings and determinations:
(a) the Project is in furtherance of the purposes of the Issuer; and
(b) the issuance of the Series 2021 Bonds will be an inducement to the Library to undertake the Project in Onondaga County; and
(c) it is desirable and in the public interest for the Issuer to issue its Bonds to finance the Project Costs, together with certain related costs and amounts, in an aggregate amount not to exceed $2,500,000; and
(d) the Library is not undertaking the Project in place of, on behalf of, for the benefit of, or at the request of the Issuer.
Section 4. In consequence of the foregoing, the Issuer hereby determines to:
(a) execute the Indenture with such amendments or modifications as the Authorized Officer deems necessary under the circumstances, provided no such amendment or modification materially alters the risk to the Issuer, and issue the Series 2021 Bonds pursuant to the terms thereto; and
(b) execute the Bond Purchase Agreement as the Authorized Officer deems necessary under the circumstances, provided no such amendment or modification materially alters the risk to the Issuer; and
(c) execute the Loan Agreement with such amendments or modifications as the Authorized Officer deems necessary under the circumstances, provided no such amendment or modification materially alters the risk to the Issuer and loan the net proceeds derived from the issuance of the Series 2021 Bonds to the Library pursuant to the terms thereto; and
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(d) issue and deliver the Series 2021 Bonds, in one or more series of tax-exempt and/or taxable Bonds, to the Underwriter on or before September 30, 2021 or such other date acceptable to the Authorized Officer, subject however to the approval of the final terms for the Series 2021 Bonds and the terms and conditions of the Bond Purchase Agreement consistent with this resolution, and the prior written approval of all terms contained therein, and of the terms of the Series 2021 Bonds, by the Authorized Officer and by the Library; and
(e) assign certain of its rights (excluding Unassigned Rights) under the Loan Agreement pursuant to the Assignment (as defined in the Indenture); and
(f) use the proceeds of the Series 2021 Bonds to finance all or a portion of the Project Costs, including payment of necessary incidental expenses in accordance with the Bond Purchase Agreement and the Loan Agreement; and
(g) appoint the Trustee as Fiscal Agent for the Series 2021 Bonds pursuant to the terms of the Fiscal Agency Agreement (as defined in the Indenture);
(h) execute a Tax Compliance Agreement, to be dated as of the date of issuance of the Series 2021 Bonds or such other date acceptable to the Authorized Officer, between the Library and the Issuer (the "Tax Compliance Agreement") and a completed Internal Revenue Service Form 8038 (Information Return for Private Activity Bonds) relating to the Series 2021 Bonds (the "Information Return") and file the Information Return with the Internal Revenue Service in connection with the issuance of the Series 2021 Bonds; and
(j) upon receipt of advice from counsel to the Issuer that the Preliminary Official Statement is in substantially final form, deem the Preliminary Official Statement final (except for the permitted omissions described in paragraph (b)(1) of Rule 15c2-12 promulgated under the Securities Exchange Act of 1934, as amended) by executing a certificate to that effect, and authorize the Underwriter to circulate the Preliminary Official Statement; and
(k) execute and deliver all other certificates and documents required in connection with issuance and sale of the Series 2021 Bonds including the documents identified on the draft closing memorandum and any other documents as may be required to accomplish the Project (collectively, with the Series 2021 Bonds, the Indenture, the Bond Purchase Agreement, the Loan Agreement, the Assignment, the Fiscal Agency Agreement, the Preliminary Official Statement, the Official Statement, the Tax Compliance Agreement and the Information Return, the "Financing Documents"), and qualify the interest on the Series 2021 Bonds for tax-exempt status under Section 103 of the Code.
Section 5. The Issuer is hereby authorized to assist the Library with the Project, to finance the Project Costs, including funding a debt service reserve fund, if any, and costs of issuance, by the issuance of the Series 2021 Bonds and to grant the other Financial Assistance;
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and all acts previously taken by the Issuer with respect to the Project, the undertaking of the Project by the Library, the grant of Financial Assistance with respect to the Project and the issuance of the Series 2021 Bonds are hereby approved, ratified and confirmed.
Section 6. The Issuer, through an Authorized Officer, is hereby authorized to issue, execute, sell and deliver to the Underwriter the Series 2021 Bonds in the aggregate principal amount of up to $2,500,000; in the form heretofore approved in Section 4 of this resolution, pursuant to the Act and in accordance with the Indenture and the Bond Purchase Agreement; provided that:
(a) the Series 2021 Bonds authorized to be issued, executed, sold and delivered pursuant to this Section 6: (i) shall be issued, executed and delivered at such time as an Authorized Officer shall determine, (ii) shall be in such aggregate principal amount (not to exceed $2,500,000;) as is hereinafter approved by an Authorized Officer, (iii) shall bear interest at such rate or rates as are set forth in the Series 2021 Bonds and the Indenture or as are hereinafter approved by an Authorized Officer, and (iv) shall be subject to prepayment prior to maturity, and have such other provisions and be issued in such manner and on such conditions as are set forth in the Series 2021 Bonds and the Indenture, all of which provisions are specifically incorporated herein with the same force and effect as if fully set forth in this resolution; and
(b) the Series 2021 Bonds shall be issued solely for the purpose of providing funds to assist the Library in financing the Costs of the Project, the funding of a debt service reserve fund, if any, the administrative, legal, financial, and other expenses of the Issuer in connection with such assistance and incidental to the issuance of the Series 2021 Bonds, as such costs are more specifically set forth in the Financing Documents; and
(c) the Series 2021 Bonds and the interest thereon are not and shall never be a debt of the State of New York or Onondaga County, New York, and neither the State of New York nor Onondaga County, New York, shall be liable thereon; and
(d) the Series 2021 Bonds, together with interest payable thereon, shall be special obligations of the Issuer payable solely from the revenues and receipts derived from the payments made by the Library pursuant to the Loan Agreement and the Master Note or from the enforcement of the security provided by the other Financing Documents (as defined in the Indenture).
Section 7. Notwithstanding any other provision of this resolution, the Issuer covenants that it will make no use of the proceeds of the Series 2021 Bonds or of any other funds which, if such use had been reasonably expected on the date of issuance of the Series 2021 Bonds, would cause the Series 2021 Bonds to be "arbitrage bonds" within the meaning of Section 148 of the Code.
Section 8. Each of the Authorized Officers is hereby authorized and directed for and in
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the name and on behalf of the Issuer to do all acts and things required or provided by the provisions of the Financing Documents, and to execute and deliver all Financing Documents, and to do all such further acts and things as may be necessary or in the opinion of the Authorized Officer acting on behalf of the Issuer, desirable and proper to effect the purposes of this resolution and to cause compliance by the Issuer with all of the terms, covenants, and provisions of the Financing Documents binding upon the Issuer.
Section 9. It is hereby found and determined that all formal actions of the Issuer concerning and relating to the adoption of this resolution were adopted in an open meeting of the Issuer; and that all deliberations of the Issuer and of any of its committees that resulted in such formal action were in meetings open to the public, in compliance with all legal requirements.
Section 10. Due to the complex nature of this transaction, the Issuer hereby authorizes each of its Authorized Officers to approve, execute and deliver such further agreements, documents and certificates as the Issuer may be advised by counsel to the Issuer and/or Bond Counsel to be necessary or desirable to effectuate the foregoing, such approval to be conclusively evidenced by the execution of any such agreements, documents or certificates by the Authorized Officer acting on behalf of the Issuer.
Section 11. This resolution shall take effect immediately and the Series 2021 Bonds are hereby ordered to be issued in accordance with this resolution.
Yea Nay Abstain Absent
The resolution was thereupon duly adopted.
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STATE OF NEW YORK ) ss: COUNTY OF ONONDAGA )
I, Robert M. Petrovich, the undersigned President and Chief Executive Officer of the Onondaga Civic Development Corporation DO HEREBY CERTIFY:
That I have compared the annexed extract of minutes of the meeting of the Onondaga Civic Development Corporation (the "Issuer"), including the resolution contained therein, held on July 8, 2021, with the original thereof on file in the office of the Agency, and that the same is a true and correct copy of the proceedings of the Issuer and of such resolution set forth therein and of the whole of said original insofar as the same related to the subject matters therein referred to.
I FURTHER CERTIFY, that all members of the Board of Directors of said Issuer had due notice of said meeting, that the meeting was in all respects duly held and that, pursuant to Article 7 of the Public Officers Law (Open Meetings Law), said meeting was open to the general public, and that public notice of the time and place of said meeting was duly given in accordance with such Article 7.
I FURTHER CERTIFY, that there was a quorum of the Board of Directors of the Issuer present throughout said meeting.
I FURTHER CERTIFY, that as of the date hereof, the attached resolution is in full force and effect and has not been amended, repealed or modified.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said Issuer this ____ day of July, 2021.
By: ______Name: Robert M. Petrovich Title: President/CEO
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Canine Carnival
Saturday, September 18, 2021 Jamesville Beach Park; 10am-3pm
County Ask: $10,000 (2021- this was the 2020 ask) $5,000 (continuous yearly donation moving forward)
11th Annual Canine Carnival- September 18, 2021 Canine Carnival Costs 2021 (Estimate)
Expenses Voss Signs $2,000 Holy Shirts $1,100 Rentals to Go $7,500 Onondaga Parks (Rangers/Overtime) $1,100 The Great Music Company $750 Westcott Events/Parking $1,000 Insurance, Liability- CPH & Assoc. $825 Management Expenses $20,000 Labor $700 Balloons $500 Lumber for dog houses (parade of dog homes) $3,500 Auburn Party Rental- picnic tables $500 Credit Card Processing Fees $350 Website $500 Advertising $71,000 $111,325
Media Schedule :60 second spots Units Rate Total WKRL 250 $85 $21,250 WTKW 250 $85 $21,250 ESPN 300 $45 $13,500 WZUN 250 $60 $15,000
$71,000
Confirmed Partners 2021: Wegmans- $3,000 Liverpool Village Animal Hospital- $4,000 Country Max- $2,000 Vet. Medical Center- (in kind for onsite animal ER) Corporate Vendors: $1,500 Non-profits/food vendors: $1,250
2019 Event Recap:
Wayne’s Canine Carnival at Jamesville Beach Park is one of the largest animal rescue events in the Northeast. The event features 50+ rescue organizations, animal demonstrations, educations sessions, a celebrity adoptable dog walk, music, food and fun! The event continues to be a free event for the public to attend and Jamesville Beach Park is the perfect backdrop for this event. Canine Carnival began as an idea by Wayne Mahar as a tribute to his mom and has become a major event for Syracuse and Central New York.
Approximately 20,000 people from Onondaga County came out to enjoy the Canine Carnival event in 2019! Over $24,000 was donated back to CNY Animal Rescues.
To date, the Priscilla Mahar Animal Welfare Foundation (PMAWF) - charity behind the Canine Carnival-has donated nearly a quarter million dollars to CNY animal rescues and welfares over the past 10 years!
Galaxy Events and PMAWF continue to partner to produce this event. Together Galaxy and PMAWF look forward to working together to help homeless animals in our community.
The funds from the grant were used to underwrite the cost of the event. Costs to produce the event include: printing, tents, tables, chairs, security, sound, labor, insurance, advertising and coordination.
The 2019 event was held on September 21st.
Always a great time. Family and dog friendly. We look forward to it every year!
Bubba's Beds for Shelter Friends had a great time as always. Here’s the pups that visited our Angel Booth! thanks so the Priscilla Mahar Foundation, Wayne Mahar and everyone for organizing a great event to help shelter animals!