The Special meeting of the Board of Trustees of the Village of Menands, held on Monday, June 13, 2016 was called to order by Mayor Megan Grenier at 6:00 P.M.

PRESENT:

Megan Grenier, Mayor
Diane Foley, Trustee
Seth H. Harris, Trustee
Aileen Nicoll, Trustee
John P. Berry, Jr., Village Clerk

ABSENT:

Steve Boulet, Trustee
Stephen Rehfuss, Village Attorney
Paul Reuss, Exec Asst to Mayor

Also attending: Brian Marsh, Paul Cooney, John Stangle, Eric Johnson, Chazen Company.

The Mayor led the Pledge of Allegiance.

Trustee Harris introduced the following Type II Determination Resolution

WHEREAS, 6 NYCRR Section 617.5 (title 6 of the New York Code of Rules and Regulations) under the State Environmental Quality Review Act (SEQR) provides that certain actions identified in subdivision (c) of that section are not subject to environmental review under the Environmental Conservation Law;

NOW, THEREFORE, BE IT:

RESOLVED that the Village of Menands hereby determines that the proposed construction of the South End Water System Improvement Project is a Type II action in accordance with 6 NYCRR Section 617.5(c) subparagraph (2) with constitutes the following:

(2) replacement, rehabilitation or reconstruction of a structure or facility, in kind, on the same site, including upgrading buildings to meet building or fire codes, unless such action meets or exceeds any of the thresholds in Section 6173.4 of this Part; and is therefore not subject to review under 6 NYCRR Part 617. The Resolution was seconded by Trustee Foley.

ADOPTED:

Trustee Foley voting AYE
Trustee Harris voting AYE
Trustee Nicoll voting AYE
Mayor Grenier voting AYE

The following resolution was offered by Trustee Harris, who moved its adoption, seconded by Trustee Foley, to wit:

BOND RESOLUTION DATED JUNE 13, 2016.

A RESOLUTION AUTHORIZING, SUBJECT TO PERMISSIVE REFERENDUM, THE RECONSTRUCTION OF WATER DISTRIBUTION PIPES, IN AND

FOR THE VILLAGE OF MENANDS, ALBANY COUNTY, NEW YORK, AT A MAXIMUM ESTIMATED COST OF $2,918,000 AND AUTHORIZING THE ISSUANCE OF $2,918,000 SERIAL BONDS OF SAID VILLAGE TO PAY THE COST THEREOF.

WHEREAS, all conditions precedent to the financing of the capita project hereinafter described, including compliance with the provisions of the State Environmental Quality Review Act as a Type II Action, have been performed; and

WHEREAS, it is now desired to authorize such capital project and its financing;

NOW, THEREFORE, BE IT

BE IT RESOLVED, by the affirmative vote of not less than two-thirds of the total voting strength of the Board of Trustees of the Village of Menands, Albany County, New York, as follows:

Section 1. The reconstruction of water distribution pipes, in and for the Village of Menands, Albany County, New York, including original equipment, machinery, apparatus, appurtenances, and incidental improvements and expenses in connection therewith, is hereby authorized, subject to permissive referendum, at a maximum estimated cost of $2,918,000.

Section 2. It is hereby determined that the plan for the financing of the aforesaid maximum estimated cost is by the issuance of $2,918,000 of serial bonds of the Village hereby authorized to be issued therefore pursuant to the provisions of the Local Finance Law, however that the amount of bonds ultimately to be issued will be reduced to the extent of any State or Federal Aid received therefore.

Section 3. It is hereby determined that the period of probable usefulness of the aforesaid class of objects or purposes is forty years, pursuant to subdivision 1 of paragraph a of Section 11.00 of the Local Finance Law. It is hereby further determined that the maximum maturity of the serial bonds herein authorized will exceed five years.

Section 4. The faith and credit of said Village of Menands, Albany County, New York, are hereby irrevocably pledged for the payment of the principal of and interest on such bonds as the same respectively become due and payable. An annual appropriation

shall be made in each year sufficient to pay the principal of and interest on such bonds becoming due and payable in such year. There shall annually be levied on all the taxable real property of said Village, a tax sufficient to pay the principal of and interest on such bonds as the same become due and payable.

Section 5. Subject to the provisions of the Local Finance Law, the power to authorize the issuance of and to sell bond anticipation notes in anticipation of the issuance and sale of the serial bonds herein authorized, including renewals of such notes, is hereby delegated to the Village Treasurer, the chief fiscal officer. Such notes shall be of such terms, form and contents, and shall be sold in such manner, as may be prescribed by said Village Treasurer, consistent with the provisions of he Local Finance Law.

Section 6. The powers and duties of advertising such bonds for sale, conducting the sale and awarding the bonds, are hereby delegated to the Village Treasurer, who shall advertise such bonds for sale, conduct the sale, and award the bonds in such manner as he shall deem best for the interests of said Village, including, but not limited to, the power to sell said bonds to the New York State Environmental Facilities Corporation; provided, however, that in the exercise of these delegated powers, the Village Treasurer shall comply fully with the provisions of the Local Finance Law and any order or rule of the State Comptroller applicable to the sale of municipal bonds. The receipt of the Village Treasurer shall be a full acquittance to the purchaser of such bonds, who shall not be obliged to see to the application of the purchase money.

Section 7. All other matters except as provided herein relating to the bonds herein authorized including the date, denominations, maturities and interest payment dates, within the limitations prescribed herein and the manner of execution of the same, including the consolidation with other issues, and also the ability to issue bonds with substantially level or declining annual debt service, shall be determined by the Village

Treasurer, the chief fiscal officer of such Village. Such bonds shall contain substantially the recital of validity clause provided for in Section 52.00 of the Local Finance Law, and shall otherwise be in such form and contain such recitals, in addition to those required by Section 51.00 of the Local Finance Law, as the Village Treasurer shall determine consistent with the provisions of the Local Finance Law.

Section 8. The Village Treasurer is hereby further authorized, at his sole discretion, to execute a project finance and/or loan agreement, and any other agreements with the New York State Department of Health and/or the New York State Environmental Facilities Corporation, including amendments thereto, and including any instruments (or amendments thereto) in the effectuation thereof, in order to effect the financing or refinancing of the specific object or purpose described in Section 1 hereof, or a portion thereof, by a bond, and/or note issue of said Village in the event of the sale of same to the New York State Environmental Facilities Corporation.

Section 9. The power to issue and sell notes to the New York State Environmental Facilities Corporation pursuant to Section 169.00 of the Local Finance Law is hereby

delegated to the Village Treasurer. Such notes shall be of such terms, from and contents as may be prescribed by said Village Treasurer consistent with the provisions of the Local Finance Law.

Section 10. The validity of such bonds and bond anticipation notes may be contested only if:

1) Such obligations are authorized for an object or purpose for which said Village is not authorized to expend money, or

2) The provisions of law which should be complied with at the date of publication of this resolution are not substantially complied with, and an action, suit or proceeding contesting such validity is commenced within twenty days after the date of such publication, or

3) Such obligations are authorized in violation of the provisions of the Constitution.

Section 11. This resolution shall constitute a statement of official intent for purposes of Treasury Regulations Section 1.1520-2. Other than as specified in this resolution, no monies are, or are reasonably expected to be, reserved, allocated on a long-term basis, or otherwise set aside with respect to the permanent funding of the object or purpose described herein.

Section 12. Upon this resolution taking effect, the same shall be published in full or summary form in the official newspaper of said Village for such purpose, together with a notice of the Village Clerk in substantially the form provided in Section 81.00 of the Local Finance Law.

Section 13. Pursuant to the provisions of Section 36.00 of the Local Finance Law, this resolution is adopted subject to permissive referendum.

The question of the adoption of the foregoing resolution was duly put to a vote on roll call, which resulted as follows:

Trustee Foley voting AYE
Trustee Harris voting AYE
Mayor Grenier voting AYE

The resolution was thereupon declared duly adopted.

Trustee Nicoll was excused from the meeting at 6:10 P.M.

Resident John Stangle asked if the Board could pass a Bond Resolution while applying for a grant.

Eric Johnson from Chazen Companies explained the process of the filing of the grant application and Bond Resolution. He also informed the Board that the announcements for the grant winners would take place in the fall.

At 6:46 P.M. Trustee Harris made a motion to adjourn, seconded by Trustee Foley.

ADOPTED:

Tustee Foley voting AYE
Trustee Harris voting AYE
Mayor Grenier voting AYE

The meeting was duly adjourned at 6:46 P.M.

_______________
John P. Berry, Jr.
Clerk

---