HomeMy WebLinkAboutTreasurer's Report August 9, 2010.PDFAugust 9, 2010
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1.
TREASURER'S REPORT
Financial Reports for May-July will be provided after year-end closing.
Bonding-\A/wTP. We are fortunate in that our recent 9734,221 financing of the Waste Water Treatment plant
Phosphorus lmprovements has retroactively qualified for an interest rate subsidy. With this subsidy our effectiveinterest rate for this 20 year financing is 213%. The subsidy will save us $146,601 over the next 2b qavs.
Fire Truck Acquisition Process. (RESOLUTIONS REeUIRED)
To acquire the replacement for Engine 202, as previously discussed by Chief Tamborelle, our expectation is that
a portion of the acquisition will be covered through Bonds and/or Bond Anticipation Notes. To facilitate thisprocess I am resolutions. The first is to Bond Counsel
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The bonding process requires the Trustees to pass a resolution with a supermajority (at least 2/3rds of the 7, or5,ofthefully-constitutedboard). Thisresolutionispassed. Theresolutionissubjecttopermissivereferendum
in accordance with state law. lf the 20% of the registered voters sign and file a petition within 20% a referendum
on the resolution must be held. Otherwise it is passed.
We are in negotiation with the Town of lthaca regarding how much of a down payment to make. This will affect
the total financed. As such the resolution has been written to finance an amount not-to-exceed $350,000. We
iare hoping that ihe amount will be considerably less.
4' ,Abstract for this meeting was distributed in advance. See supplemental abstract below.
\ JlJ\i'-'L Y\r\'ruK ^ A raourt Audit. Trustee acknowledgement that the required Court Audits was conducted for the year endingtlLJr./''^.-axr5 ,nUf 'O \ December3l,2009. Acopyoftheauditisattached.
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^[V 4fl("' 6. 'lransfers. (RESOLUTIoN REoUIRED).U'v" fransfers will be recommended after year_end closing.
7.
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Southem Tier Building Officials Assn
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31.00 CENT GAR: Contr Exp
35.00 NYSUBFC: Contr Exp
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Drug Testing
Training
A01640.410
A03620.400
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Respectfully subm itted,
Jeffrery Silber
Treasurer
RESOLVED to authorize the Treasurer to engage Orrick, Herrington & Sutcliffe to "e*" "" OonU
:::"::1."1 a cost not to exceed $4500 in asso,liation with the financing for the 201 1 Rescue pumper
RESOLVED to approve the Abstracts of Audited Vouchers Dated 819/10 in ttr" ir--t ot SzzA99s.1s
and the s'upplemental abstr,act below for $€4r0&and instruct that the Treasurer make oavmeni-.i#;3:."rOo'"t"nr",abstract
below formfl$ in"t.u"t that the Treasurer make payments
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