HomeMy WebLinkAboutTB Packet 2020-06-22Study Session of the Ithaca Town Board
Monday, June 22, 2020
AGENDA
ZOOM Meeting ID 991 1230 1523 or call 929-436-2866
1. New Neighborhood Code review and discussion
2. Consider approval of the issuance of Public Improvement Refunding (Serial) Bonds and
related matters
3. Committee Reports
a. P&O
b. COC
c. Planning
d. Public Works
e. Budget
f. Ad Hoc Committees
g. Other
4. Consent Agenda
a. Approval of Minutes
b. Town of Ithaca Abstract
5. Review of Correspondence
MEETING OF THE ITHACA TOWN BOARD
Monday, June 22, 2020
TB Resolution 2020 - : REFUNDING BOND RESOLUTION — Public Improvement
Refunding (Serial) Bonds and providing for other matters in relation thereto
At a regular meeting of the Town Board of the Town of Ithaca, Tompkins County, New
York, held at the Town Hall, in Ithaca, New York, in said Town, on the 22nd day of June, 2020,
at o'clock P.M., Prevailing Time.
The meeting was called to order by Rod Howe, Supervisor, and upon roll being called,
the following were Present:
The following resolution was offered by who moved its adoption, seconded
by , to -wit:
REFUNDING BOND RESOLUTION DATED JUNE 22, 2020.
A RESOLUTION AUTHORIZING THE ISSUANCE PURSUANT TO SECTION 90.00
AND/OR SECTION 90.10 OF THE LOCAL FINANCE LAW OF REFUNDING BONDS OF
THE TOWN OF ITHACA, TOMPKINS COUNTY, NEW YORK, TO BE DESIGNATED
SUBSTANTIALLY "PUBLIC IMPROVEMENT REFUNDING (SERIAL) BONDS", AND
PROVIDING FOR OTHER MATTERS IN RELATION THERETO AND THE PAYMENT OF
THE BONDS TO BE REFUNDED THEREBY.
WHEREAS, the Town of Ithaca, Tompkins County, New York (hereinafter, the "Town")
heretofore issued an aggregate $1,125,000 Public Improvement (Serial) Bonds, 2009, pursuant
to certain bond resolutions dated June 27, 2007 to pay the cost of improvements to the Town of
Ithaca water distribution system, such Public Improvement (Serial) Bonds, 2009, being dated
October 1, 2009 and maturing or matured on October 1 annually (the "2009 Bonds"); and
WHEREAS, the Town heretofore issued an aggregate principal amount of $2,650,000
Public Improvement (Serial) Bonds, 2011, pursuant to certain bond resolutions dated June 13,
2011 to pay the cost of various Town purposes, such Public Improvement (Serial) Bonds, 2011,
being dated September 1, 2011 and maturing or matured on September 1 annually (the "2011
Bonds"); and
WHEREAS, it would be in the public interest to refund all, or one or more, or a portion
of one or more, of the $430,000 outstanding principal balance of the 2009 Bonds maturing in
2020 and thereafter (the "2009 Refunded Bonds"), and the $1,365,000 outstanding principal
balance of the 2011 Bonds maturing in 2021 and thereafter (the "2011 Refunded Bonds",
together with the 2009 Refunded Bonds, the "Refunded Bonds"), each by the issuance of
refunding bonds pursuant to Section 90.00 or Section 90.10 of the Local Finance Law; and
WHEREAS, each of such refundings will individually result in present value savings in
debt service as so required by Section 90.10 of the Local Finance Law; now, therefore, be it
RESOLVED, by the Town Board of the Town of Ithaca, Tompkins County, New York,
as follows:
Section 1. For the object or purpose of refunding the outstanding aggregate
$1,795,000 principal balance of the Refunded Bonds, including providing moneys which,
together with the interest earned from the investment of certain of the proceeds of the refunding
bonds herein authorized, shall be sufficient to pay (i) the principal amount of the Refunded
Bonds, (ii) the aggregate amount of unmatured interest payable on the Refunded Bonds to and
including the date on which the Refunded Bonds which are callable are to be called prior to their
respective maturities in accordance with the refunding financial plan, as hereinafter defined, (iii)
the costs and expenses incidental to the issuance of the refunding bonds herein authorized,
including the development of the refunding financial plan, as hereinafter defined, compensation
to the underwriter or underwriters, as hereinafter defined, costs and expenses of executing and
performing the terms and conditions of the escrow contract or contracts, as hereinafter defined,
and fees and charges of the escrow holder or holders, as hereinafter mentioned, (iv) the
redemption premium to be paid on the Refunded Bonds which are to be called prior to their
respective maturities, and (v) the premium or premiums for a policy or policies of municipal
bond insurance or cost or costs of other credit enhancement facility or facilities, for the refunding
bonds herein authorized, or any portion thereof, there are hereby authorized to be issued not
exceeding $2,000,000 refunding bonds of the Town pursuant to the provisions of Section 90.00
or Section 90.10 of the Local Finance Law (the "Public Improvement Refunding Bonds" or
the "Refunding Bonds"), it being anticipated that the amount of Refunding Bonds actually to be
issued will be approximately $1,610,000, as provided in Section 4 hereof. The Refunding Bonds
described herein are hereby authorized to be consolidated for purposes of sale in one or more
refunding bond issues. The Public Improvement Refunding Bonds shall each be designated
substantially "PUBLIC IMPROVEMENT REFUNDING SERIAL BOND" together with such
series designation and year as is appropriate on the date of sale thereof, shall be of the
denomination of $5,000 or any integral multiple thereof (except for any odd denominations, if
necessary) not exceeding the principal amount of each respective maturity, shall be numbered
with the prefix R-20 (or R with the last two digits of the year in which the Refunding Bonds are
issued as appropriate) followed by a dash and then from 1 upward, shall be dated on such dates,
and shall mature annually on such dates in such years, bearing interest semi-annually on such
dates, at the rate or rates of interest per annum, as may be necessary to sell the same, all as shall
be determined by the Supervisor pursuant to Section 4 hereof. It is hereby further determined
that (a) such Refunding Bonds may be issued in series, (b) such Refunding Bonds may be sold
at a discount in the manner authorized by paragraph e of Section 57.00 of the Local Finance
Law and pursuant to subdivision 2 of paragraph f of Section 90.10 of the Local Finance Law,
and (c) such Refunding Bonds may be issued as a single consolidated issue. It is hereby further
determined that such Refunding Bonds may be issued to refund all, or any portion of, the
Refunded Bonds, subject to the limitation hereinafter described in Section 10 hereof relating to
approval by the State Comptroller.
Section 2. The Refunding Bonds may be subject to redemption prior tomaturity
upon such terms as the Supervisor shall prescribe, which terms shall be in compliance with the
requirements of Section 53.00 (b) of the Local Finance Law. If less than all of the
Refunding Bonds of any maturity are to be redeemed, the particular refunding bonds of such
maturity to be redeemed shall be selected by the Town by lot in any customary manner of
selection as determined by the Supervisor.
The Refunding Bonds shall be issued in registered form and shall not be registrable to
bearer or convertible into bearer coupon form. In the event said Refunding Bonds are issued in
non -certificated form, such bonds, when issued, shall be initially issued in registered form in
denominations such that one bond shall be issued for each maturity of bonds and shall be
registered in the name of Cede & Co., as nominee of The Depository Trust Company, New York,
New York ("DTC"), which will act as securities depository for the bonds in accordance with the
Book -Entry -Only system of DTC. In the event that either DTC shall discontinue the Book -
Entry -Only system or the Town shall terminate its participation in such Book -Entry -Only
system, such bonds shall thereafter be issued in certificated form of the denomination of $5,000
each or any integral multiple thereof (except for any odd denominations, if necessary) not
exceeding the principal amount of each respective maturity. In the case of non -certificated
Refunding Bonds, principal of and interest on the bonds shall be payable by check or draft
mailed by the Fiscal Agent (as hereinafter defined) to The Depository Trust Company,
New York, New York, or to its nominee, Cede & Co., while the bonds are registered in the name
of Cede & Co. in accordance with such Book -Entry -Only System. Principal shall only be
payable upon surrender of the bonds at the principal corporate trust office of such Fiscal Agent
(or at the office of the Town Clerk as Fiscal Agent as hereinafter provided).
In the event said Refunding Bonds are issued in certificated form, principal of and
interest on the Refunding Bonds shall be payable by check or draft mailed by the Fiscal Agent
(as hereinafter defined) to the registered owners of the Refunding Bonds as shown on the
registration books of the Town maintained by the Fiscal Agent (as hereinafter defined), as of the
close of business on the fifteenth day of the calendar month or first business day of the calendar
month preceding each interest payment date as appropriate and as provided in a certificate of
the Supervisor providing for the details of the Refunding Bonds. Principal shall only be payable
upon surrender of bonds at the principal corporate trust office of a bank or trust company or
banks or trust companies located or authorized to do business in the State of New York, as shall
hereafter be designated by the Supervisor as fiscal agent of the Town for the Refunding Bonds
(collectively the "Fiscal Agent").
Refunding Bonds in certificated form may be transferred or exchanged at any time prior
to maturity at the principal corporate trust office of the Fiscal Agent for bonds of the same
maturity of any authorized denomination or denominations in the same aggregate principal
amount.
Principal and interest on the Refunding Bonds will be payable in lawful money of the
United States of America.
The Supervisor, as chief fiscal officer of the Town, is hereby authorized and directed to
enter into an agreement or agreements containing such terms and conditions as he shall deem
proper with the Fiscal Agent, for the purpose of having such bank or trust company or banks or
trust companies act, in connection with the Refunding Bonds, as the Fiscal Agent for said Town,
to perform the services described in Section 70.00 of the Local Finance Law, and to execute
such agreement or agreements on behalf of the Town, regardless of whether the Refunding
Bonds are initially issued in certificated or non -certificated form; provided, however, that the
Supervisor is also hereby authorized to name the Town Clerk as the Fiscal Agent in connection
with the Refunding Bonds if said Refunding Bonds are issued in non -certificated form.
The Supervisor is hereby further delegated all powers of this Town Board with respect
to agreements for credit enhancement, derived from and pursuant to Section 168.00 of the Local
Finance Law, for said Refunding Bonds, including, but not limited to the determination of the
provider of such credit enhancement facility or facilities and the terms and contents of any
agreement or agreements related thereto.
The Refunding Bonds shall be executed in the name of the Town by the manual or
facsimile signature of the Supervisor, and a facsimile of its corporate seal shall be imprinted
thereon. In the event of facsimile signature, the Refunding Bonds shall be authenticated by the
manual signature of an authorized officer or employee of the Fiscal Agent. The Refunding
Bonds shall contain the recital required by subdivision 4 of paragraph g of Section 90.00 of the
Local Finance Law or subdivision 4 of paragraph j of Section 90.10 of the Local Finance Law,
as applicable, and 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 Supervisor shall determine. It is hereby
determined that it is to the financial advantage of the Town not to impose and collect from
registered owners of the Refunding Bonds any charges for mailing, shipping and insuring bonds
transferred or exchanged by the Fiscal Agent, and, accordingly, pursuant to paragraph c of
Section 70.00 of the Local Finance Law, no such charges shall be so collected by the Fiscal
Agent.
Section 3. It is hereby determined that:
(a) the maximum amount of the Refunding Bonds authorized to be issued
pursuant to this resolution does not exceed the limitation imposed by subdivision 1 of
paragraph b of Section 90.10 of the Local Finance Law;
(b) the maximum period of probable usefulness permitted by law at the time
of the issuance of the respective Refunded Bonds, for the objects or purposes for which
such respective Refunded Bonds were issued is as described in Exhibit A attached hereto
and hereby made a part hereof ;
(c) the last installment of the Refunding Bonds will mature not later than the
expiration of the period of probable usefulness of the objects or purposes for which said
respective Refunded Bonds were issued in accordance with the provisions of
subdivision 1 of paragraph a of Section 90.00 of the Local Finance Law or subdivision
1 of paragraph c of Section 90.10 of the Local Finance Law, as applicable;
(d) the estimated present value of the total debt service savings anticipated as
a result of the issuance of the Refunding Bonds, if any, computed in accordance with the
provisions of subdivision 2 of paragraph b of Section 90.10 of the Local Finance Law,
with regard to each of the respective series of Refunded Bonds, is as shown in the
Refunding Financial Plan described in Section 4 hereof.
Section 4. The financial plan for the aggregate of the refundings authorized by this
resolution (collectively, the "Refunding Financial Plan"), showing the sources and amounts of
all moneys required to accomplish such refundings, the estimated present value of the total debt
service savings and the basis for the computation of the aforesaid estimated present value of
total debt service savings, are set forth in Exhibit B attached hereto and hereby made a part
hereof.
The Refunding Financial Plan has been prepared based upon the assumption that the Refunding
Bonds will be issued in one series to refund all of the Refunded Bonds in the principal amount
of $1,610,000, and that the Refunding Bonds will mature, be of such terms, and bear interest as
set forth in said Exhibit B. This Town Board recognizes that the Refunding Bonds may be
issued in one or more series, and for only one or more of the Refunded Bonds, or portions
thereof, that the amount of the Refunding Bonds, maturities, terms, and interest rate or rates
borne by the Refunding Bonds to be issued by the Town will most probably be different from
such assumptions and that the Refunding Financial Plan will also most probably be different
from that attached hereto as Exhibit B. The Supervisor is hereby authorized and directed to
determine which of the Refunded Bonds will be refunded and at what time, the amount of the
Refunding Bonds to be issued, the date or dates of such bonds and the date or dates of issue,
maturities and terms thereof, the provisions relating to the redemption of Refunding Bonds prior
to maturity, whether the Refunding Bonds will be insured by a policy or policies of municipal
bond insurance or otherwise enhanced by a credit enhancement facility or facilities, whether the
Refunding Bonds shall be sold at a discount in the manner authorized by paragraph e of Section
57.00 of the Local Finance Law, and the rate or rates of interest to be borne thereby, whether
the Refunding Bonds shall be issued having substantially level or declining annual debt service
and all matters related thereto, and to prepare, or cause to be provided, a final Refunding
Financial Plan for the Refunding Bonds and all powers in connection therewith are hereby
delegated to the Supervisor; provided, that the terms of the Refunding Bonds to be issued,
including the rate or rates of interest borne thereby, shall comply with the requirements of
Section 90.00 or Section 90.10 of the Local Finance Law, as applicable. The Supervisor shall
file a copy of his certificates determining the details of the Refunding Bonds and the final
Refunding Financial Plan with the Town Clerk not later than ten (10) days after the delivery of
the Refunding Bonds, as herein provided.
Section 5. T h e Supervisor is hereby authorized and directed to enter into an escrow
contract or contracts (collectively the "Escrow Contract") with a bank or trust company, or
with banks or trust companies, located and authorized to do business in this State as said
President shall designate (collectively the "Escrow Holder") for the purpose of having the
Escrow Holder act, in connection with the Refunding Bonds, as the escrow holder to perform
the services described in Section 90.10 of the Local Finance Law.
Section 6. The faith and credit of said Town of Ithaca, Tompkins County, New York,
are hereby irrevocably pledged to the payment of the principal of and interest on the Refunding
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 be annually levied on all the taxable real property in said Town
a tax sufficient to pay the principal of and interest on such Refunding Bonds as the same become
due and payable.
Section 7. All of the proceeds from the sale of the Refunding Bonds, including the
premium, if any, but excluding accrued interest thereon, shall immediately upon receipt thereof
be placed in escrow with the Escrow Holder for the Refunded Bonds. Accrued interest on the
Refunding Bonds shall be paid to the Town to be expended to pay interest on the Refunding
Bonds. Such proceeds as are deposited in the escrow deposit fund to be created and established
pursuant to the Escrow Contract, whether in the form of cash or investments, or both, inclusive
of any interest earned from the investment thereof, shall be irrevocably committed and pledged
to the payment of the principal of and interest on the Refunded Bonds in accordance with
Section 90.10 of the Local Finance Law, and the holders, from time to time, of the Refunded
Bonds shall have a lien upon such moneys held by the Escrow Holder. Such pledge and lien
shall become valid and binding upon the issuance of the Refunding Bonds and the moneys and
investments held by the Escrow Holder for the Refunded Bonds in the escrow deposit fund
shall immediately be subject thereto without any further act. Such pledge and lien shall be valid
and binding as against all parties having claims of any kind in tort, contract or otherwise against
the Town irrespective of whether such parties have notice thereof.
Section 8. Notwithstanding any other provision of this resolution, so long as any of
the Refunding Bonds shall be outstanding, the Town shall not use, or permit the use of, any
proceeds from the sale of the Refunding Bonds in any manner which would cause the Refunding
Bonds to be an "arbitrage bond" as defined in Section 148 of the Internal Revenue Code of 1986,
as amended, and, to the extent applicable, the Regulations promulgated by the United States
Treasury Department thereunder.
Section 9. In accordance with the provisions of Section 53.00 and of paragraph h of
Section 90.10 of the Local Finance Law, in the event such bonds are refunded, the Town hereby
elects to call in and redeem each respective series of Refunded Bonds which the Supervisor shall
determine to be refunded in accordance with the provisions of Section 4 hereof and with regard to
which the right of early redemption exists. The sum to be paid therefor on such redemption date
shall be the par value thereof plus the redemption premium, and the accrued interest to such
redemption date. The Escrow Agent for the Refunding Bonds is hereby authorized and directed to
cause notice of such call for redemption to be given in the name of the Town in the manner and
within the times provided in the Refunded Bonds. Such notice of redemption shall be in
substantially the form attached to the Escrow Contract. Upon the issuance of the Refunding Bonds,
the election to call in and redeem the callable Refunded Bonds and the direction to the Escrow
Agent to cause notice thereof to be given as provided in this paragraph shall become irrevocable,
provided that this paragraph may be amended from time to time as may be necessary
in order to comply with the publication requirements of paragraph a of Section 53.00 of the
Local Finance Law, or any successor law thereto.
Section 10. The Refunding Bonds shall be sold at public competitive sale or at
private sale to Robert W. Baird & Co., Inc. (the "Underwriter"), plus accrued interest from the
date or dates of the Refunding Bonds to the date or dates of the delivery of and payment for the
Refunding Bonds. Subject to the approval of the terms and conditions of such private sale by the
State Comptroller to the extent required by subdivision 2 of paragraph f of Section 90.10 of the
Local Finance Law, the Supervisor, is hereby authorized to execute and deliver a purchase
contract for the Refunding Bonds in the name and on behalf of the Town providing the terms and
conditions for the sale and delivery of the Refunding Bonds to the Underwriter. After the
Refunding Bonds have been duly executed, they shall be delivered by the Supervisor to the
Underwriter in accordance with said purchase contract or winning purchaser upon the receipt by
the Town of said purchase price, including accrued interest.
Section 11. The Supervisor and all other officers, employees and agents of the Town
are hereby authorized and directed for and on behalf of the Town to execute and deliver all
certificates and other documents, perform all acts and do all things required or contemplated to
be executed, performed or done by this resolution or any document or agreement approved
hereby.
Section 12. All other matters pertaining to the terms and issuance of the Refunding
Bonds shall be determined by the Supervisor and all powers in connection thereof are hereby
delegated to the Supervisor. The Supervisor shall be further authorized to issue said Refunding
Bonds pursuant to Section 90.00 or Section 90.10 of the Local Finance Law as said officer shall
determine necessary, in consultation with bond counsel to the Town.
Section 13. The validity of the Refunding Bonds may be contested only if:
1. Such obligations are authorized for an objector purpose for which said Town
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 14. A summary of this resolution, which takes effect immediately, shall be
published in the official newspapers of said Town, together with a notice of the Town Clerk in
substantially the form provided in Section 81.00 of the Local Finance Law.
The foregoing resolution was duly put to a vote which resulted as follows:
The resolution was thereupon declared duly adopted.
EXHIBIT A
REFUNDED BOND ISSUES
OBJECTS OR PURPOSES
AND PERIODS OF PROBABLE USEFULNESS
$1,125,000 Public Improvement (Serial) Bonds, 2009
Trumansburg Road water main improvements ($693,000) and Hanshaw Road water
main improvements ($524,000), period of probable usefulness, 40 years, Section
11.00 Local Finance Law and bond resolutions dated June 27, 2007 and a bond
determinations certificate for bonds dated October 1, 2009 incorporated herein by
reference.
AND
$2,650,000 Public Improvement (Serial) Bonds, 2011
Objects or purposes, periods of probable usefulness, Section 11.00 Local Finance
Law subdivisions and bond resolutions dated June 13, 2011 all per bond
determinations certificate for bonds dated September 1, 2011 incorporated herein by
reference, East Shore Water Main improvements ($2,000,000), reconstruction of
Synder Hill Road ($350,000), and Town Hall roof reconstruction ($300,000).
MWiI I-Iy
PRELIMINARY REFUNDING FINANCIAL PLAN
TOWN OF ITHACA,
TOMPKINS COUNTY, NEW YORK.
TABLE OF COV7'j;NT,4V
TOWN OF ITHACA, TOMPKINS COUNTY, NEW YORK
Hypothetical Public Improvement Refunding Serial Bonds,, Sel-ics 2020
New Money and CR of Public Improvement Serial Bonds, 2009 and 2011
Assumptions,. 13Q, Moody's Aal
Hypothetical Interest Rates as of inne 12, 2020
Report
Page
Hypothetical Public IMPrOvernent Refunding Serial Bonds-, Series 2020
Impoilant Disclosui,es . . . . . .
Potential SOLH-ces and Uses . . .
Bond Pricing
Bond Summary Statistics . . . . . . . . . . 3
Prool'of NYS, Effective Interest Cost 4
5
CRof2009
Sunu-nw-y olBonds Refunded . . . .
Summa . Summary of Refunding Results 7
Bond Debt Service 8
9
Cr of 20111
Summary of Bonds Reflun(jet]
Savings . . . . . . .
Summary of Reflunding, Results . . . . . . . . .
Bond Debt Service 12
Lhireftinded Bond Debt Service 13
14
Hypothetical Public Improvement Refunding Serial Bonds, Series 2020
Important Disclosures . . .
Jun 15, 2020 2:.N pen Prepared 1i,�, Roheri it'. Utit?-el (ijy)
0 -.'' are wyork, ithaca
IJIP0RT4NTDLS'CL0SURE-S
TOWN OF ITHACA, TOMPKINS COUNTY, NEW YORK
Hypothetical Public Improvement Refunding Serial Bonds, Series 2020
New Money an(] CR of Public Improvement Serial Bonds, 2009 .anti 2011
Assumptions. BQ, Moody's Aal
Hypothetical Interest Rates as of3une 12, 2020
Robert W. Baird & Co. Incorporated ("Baird") is not recommending any action to you. Baird is not acting as an advisor to you and
does not owe you a fiduciary duty pursuant to Section 1513 Of tile Securities Exchange Act of 1934. Baird is acting for its own
interests. You should discuss the information contained herein with any and all internal Or external advisors and CXPCI'tS you deem
appropriate before acting on the inl'brniation. Baird seeks to serve as an underwriter (or placement agent) on it future transaction and
not as a financial advisor or municipal advisor. The primary role of an underwriter (or placement agent) is to purchase, or arrange for
the placement of, securities in an arm's length commercial transaction with the issuer, and it has financial and other interests that
differ frorn those ofthe issuer. The information provided is for discussion purposes only, in seeking to serve as underwriter (or
placement agent). See "Important Disclosures" contained herein.
--------- . ... ... . ....... . .............. . - ------
. .. .... ...... ......... . ............ . ..
Jun I i. 2'020 x::34 Barra hep aredky Robert It' Bacrd (deq) Pagel
PO TENTIA L SO UR CES A AID USES"
TOWN OF ITHACA, TOMPKINS COUNTY, NEW YORK
Hypothetical Public Improvement Refunding Serial Bonds, Series 2020
New Money and CR of Public Improvement Serial Bonds, 2009 and 2011
Assumptions: BQ, Moody's Aal
Hypothetical Interest Rates as of June 12, 2020
ASSLHned Dated Date 08/18/2020
Assumed Delivery Date 08/18/2020
Potential Sources: CR of 2009 Cr of 2011 Total
Bond Proceeds:
Par Amount
Prernit,1111
Potential Uses:
Refunding Escrow Deposits:
Cash Deposit
SL GS Purchases
Assurned Delivery Date Expenses:
Cost Of Issuance
Underwriter's Discount
Other Potential Uses of Funds:
Rounding Amount
395,000.00 1,215,000.00 1,610,000,00
45,922.00 199,135.30 245,057.30
440,922.00 1,414,'135,30 )530 1,855,057.30
CR of 2009
Cr of 2011
Total
0.62
21,015.66
21,016.28
436,659.00
1,366,722.00
1,803,381.00
436,659.62
1,387,737.66
1,824,397.28
4,740.00
14,580.00
19,320.00
3,160.00
9,720.00
12,880,00
7,900.00
24,300.00
32,200.00
(3,637.62) 2,097-64 (1,539.98)
440,92100 1,414,135.30 1,855,057.30
...............
Note. COSt 01' Issuance total reflects a hypothetical estimate based on Baird's cxj)erience with siinilar transactions.
....... . ..... .. .. ........ --
Jill? 15, 2020 2:34 pm Prepared h"V Roberl 07. Baird ((hy) hlge2
B0!VD
TOWN OF ITHACA, TOMPKINS COUNTY, NEW YORK
Hypothetical Public Iniprovemen( Refunding Serial Bonds, Series 2020
Ne", Money anti CR of Public Improvement Serial Bonds, 2009 an(] 2011
Assumptions: BQ, Moody's Aal
Hypothetical Interest Rates as of June 12, 2020
Nla I u ri ty
Yield III Can
Call Premium
Bond Cuamponwit Date
Amount
Rate
Yield
Price Maturity Date
. .. . .........
Price (-Discottall)
Principal Cost
. . . . ....................
Scrial Bonds'
0811H112021
23'5,0009
5 000"r
01.34)01"'-4"
10.1 650
10,"9"_7.1511
24),,92 7,50
Oil A5/2022
180,000
5 (100" as
0 1501!`,,
1 C0 220
1 6,5w 00
196,596,00
08152023
195000
5 000"�
013801!,
111730
26,77:3,50
221,773 50
08) 151'2024
200.0410;&
5000'S3
0.11201!a
118.'110
36,22O,M
236,221) 00
0815,2025
100,000
5 COM).
0,7,54)0^'7,
122,157
22,157 00
122,k17',00
W15"2026
1 () (I'o GO
5000"r
0.6509''",T,
125,522
25,522 00
125,522 00
08/15i2027
110,001)
5 000"0
128,E817
31,698 70
1.11,699 70
08,15f2028
1 15,010
5 00011",
141 998
10,7'97,70
1.51,7''.97.71
0815/20241
/2029
120,0 00
3 000%
P
1 IW,
11.1."1°97 C '6 7 1 2V'�08115;2028
100'10100 17.396 40
137,396,40
08'8512030
125 000
3,000"3
1 250%
111 270 C 1 .51101!6 081,15,2028
100.000 16,587,50
141 597 5�O
08,115,2031
. . ............ . . . . .. . . ......
130.000
211,00%
1.550'%
103370 1 663%� 08152028
100 000 4,381 00
13.4,181 00
1,610,000
...... ... .....
---- — --------
........ . . . .... . .......
245,057 30
. ...... . .....
1,855,057 10
Assumed Dated
Dare
08 18 20120
Assumed Delivm
Date
08 88 2020
PITsl Cotipull
02 15„2021
Pat Amount
I .6 10.000 00
Peitmun
245,057 30
III odric"011
I ,855,057 30 11 52209W�
Undem I ttel's Discount
412,880 00,I (0 800000%)
.. . ...... . ...... . .
Purchase Pn cc
1.842.17' W I 1 I 42(9a)5d ”
Accrued Inimm
Nast 11touctis, 1,812,1[771 30
Notes
This ilh,stmt ,on rVrnvsunosa InAmnatical calcaulmtunn (A,PvkewiA inme,� cost savinp, asmmmg, hypohek"JI intoe ,r Tmex hawd
011 CUITMt Mlei IM IIUMiCipd bondAciull If acoNd ries an: highel than 111"w &ssulned,
the imerem cost savings would be Amer 'I his iflustration prat idcinformalio'l awl k ru"I o'10"ded TO I,ca Nrcommend iow
proposal or su6?gcs6on fw r Pcfinjrrvmg or oflw—isy co"wic'ed u, ;,Idwe
A wmiti,ity mmIysis is included in tire Reffind fj;cCju "1111111a.ry, or 1110 1n'[ tom
Jun 15, 2020 2:347in Pre l)cued liyRohert If" f3mvd(dqj) (r 4mvyorkWhoco twi0own q,fllharw NV:SAIRY) Page 3
. .......... .... . . .. .... ...... ..... - - - - - - .. .... ...... . .......
Jun 15, 2020 2:34 pm Prepm-ecl bj, Robert 14V Baip-(l (cial) Puge4
BOND SIALVARYSIA TLY77CY
TOWN OF ITHACA,TOMPKINS
COUNTY, NEW YORK
Hypothetical Public
Improvement Refunding Serial Bonds, Series 2020
New Money and CR of Public Improvement Serial Bonds, 2009 and 2011
Assumptions: 13Q, Moody's Aal
Hypothetical
Interest Rates as
ol'June 12, 2020
CR ot. 2009
...................... . .
Cr o F201 1
Aggrepte
Assumed Dated Date
_1111-11-1111,-- . ....
08/18/2020
-----------
08/18/2020
....... .........
08/18/2020
Assumed Deliver} r)ate
08/18/2020
08/1812020
08/18/2020
First Coupon
02/15/2021
02/15/2021
02/1.5/2021
Last Maturny
08/15/2024
08/15/20.31
08/15)12031
Potential Arbitrage Yield
1 211572%
1 2115721',4.
1 2 1 1572"/a
Potential 'I rue Interest Cost (TI C)
0.6797450,,
1 178883`,,6
1,119702'%,
Potential All -In TIC
1, 1293890/,,'w
1,366311)"1m
1,337992��,6
Potential Avera.ge Coupon
5,011)0000'3'�
3.810005" /,
3 94997W',/o
Average Life (years)
2.536
6 185
5,290
Wei�ohted Average Maturity (years)
2 587
6.219
7460
Dunation OfIssue (years)
2 440
5.613
4871
Par AnIOUnt
395.000,00
1,2 15,000 00
1,610,000 00
Bond Proceeds
440,922 00
1A 11,135,30
1,8595.057.30
Total Interest
>O,08,542
286,317 08
336,402,50
Net Interest
7,323,42
96,99 78
104,22520
Bond Years frorn Assunied DatCd Dante.
1,001,708 33
7,5 14,875 00
8,5 16,5 83.33
Bond Years from Assumed Dehvcr, Date
1.001.708.33
7.5 14,8 7 5 . (K)
8,5 16,583.33
1 otal Debt Service
4.45,08,5A2
1,5013 17,08
1,946,402 50
Maximum Annual Debt Ser ice
114,58542
11)1,517.08
306,102 50
Average Annual Debi Sen, ice
I 11.503.65
136,586 85
177,079.83
Average
Par
Average
Average NhturitN
PV (if I III)
Bond Component Value
Price Coupon
............ .............. . ..... .
Lift Date
Duration
............. . ....
change
Sefial Bonds L6 t 0.000 00
117.221 3.950",/,
5,290 12/02/2025
24-14
82725
L610,000M
.....................
. . .... ..
- - -
5,290
- - - - - - - - -
827 25
ArWrarc
TKI
....
TIC
Yield
.
Par Value
..... .. ....... . . ... ..... ---- . . .......... ....
1.610.000 00
__ . . ....... . . .......... . .. .
11,10,000 0O
- __".
5,00000,00
Accrued Interest
+ 111,01nurn (Discount)
2,45,057 30
2-15,05 7 30
657,66900
t D ndmvri ter's Discount
(12,8811.001
( 1 1880V)
COSI Ot'Issuance Expense
(19,320,00)
Other Amounts
Target Value
. .. ..... .. .
1.842,177.:30
...... . . . . .......
1,822,857.30
. ...... . ..... . . ...... . ...... ......
5,65 7,669,00
Target Date
08/18/2020
08/18/202'1
08/18/2020
),icld
1 t 19702'%,
1,337992"/i)
1111572.0%
. .......... .... . . .. .... ...... ..... - - - - - - .. .... ...... . .......
Jun 15, 2020 2:34 pm Prepm-ecl bj, Robert 14V Baip-(l (cial) Puge4
I"/?OOT'Of' Nl',S'El,'FF("'17f"F- hVTrRE*ST COST
'TOWN OF ITHACA, TOMPKINS COUNTY, NEW YORK
Hypothetical Public Improvement Refunding Serial Bonds, Series 2020
New Money and CR off"ublic Impro-vement Serial Bonds, 2009 and 2011
Assumptions: BQ, Moody's Aal
Flypothetical Interest Rates as of June 12, 2020
Ef'f'ective Intei,est Cost 0.9761242%
pal. 1,610,000.00
Accrued Interest
-011 01P 245,05730
I'mcceds 1,855,057.30
NPV of Debt Service at EIC
1,946,402.50 1,855,057.30
.............
. . ........ ... . . . . . ........... . ......
............. .. . .
Jun 15, 2020 2:34pfn Prepared by P obert IV Baird (chrj) (r Well'yorkithaeu mn',Tmvoy q1"11hucaAT-SAM) Page 5
Debt Service
PV factor
to Final
at EIC of
Date
Maturity
............... . .... . ..
0.976%
.
PV of Cashflow
02/15/2021
35,252.50
0,9952238389
35,084. 13
08/15/2021
270,850.00
0.9903901202
268,247.16
02/15/2022
29,975.00
0.9855798784
29,542.76
08/15/2022
209,975.00
0.9807929997
205,942,01
02/15/2023
25,475.00
O,9760293 703
24,86435
08/15/2023
220,475,00
0,9712888776
214,144.92
02/15/2024
20,600.00
0.9665714090
19,911.37
08/15/2024
220,600.00
0.9618768527
212,190.03
02/1 5/2025
15,600,00
0,9572050975
14,932.40
08/15/2025
115,600,00
0,9525560327
110,115.48
02/15/2026
13,100.00
0.9479295479
12,417.88
08/15/2020
113,100.00
0.9433255337
106,690.12
02/15/2027
10,600,00
0.9387438807
9,950.69
08/15/2027
120,600.00
0.9341844804
112,66165
02/15/2028
7,850.00
0,9296472247
7,297.73
08/15/2028
122,850.00
0.9251320062
113,652.47
02/15/2029
4,975.00
0.92063 87176
4,580.18
08/15/2029
124,975.00
0.9161672526
114,498.00
02115/2030
3.1.75.00
0.9117175051
2,894.70
08/15/2030
128,175.00
0.9072893697
1161,291.81
02/15/2031
1,300.00
0.9028�827413
1,173.75
08/15/2031
131,300.00
O.8984975 156
117,972.72
1,946,402.50 1,855,057.30
.............
. . ........ ... . . . . . ........... . ......
............. .. . .
Jun 15, 2020 2:34pfn Prepared by P obert IV Baird (chrj) (r Well'yorkithaeu mn',Tmvoy q1"11hucaAT-SAM) Page 5
SUALVA R)'01'13OND,S REFUNDED
TOWN OF ITHACA, TOMPKINS COUNTY, NEW YORK
CR of 2009
New Money and CR of Public Improvement Serial Bonds, 2009 and 2011
Assumptions: BQ, Moody's Aa I
Hypothetical Interest Rates as of June 12, 2020
Maturity Interest Par Call Call
Bond Date Rate Amount Date Price
Public Improvement Serial Bonds, 2009
SERIAL 10/01/2020
3.125%
80,000,00
09/17/2020
100,000
10/01/2021
1250%
85,000,00
09/17/2020
100,000
10/01/2022
3.375%
85,000.00
09/17/2020
100.000
10/01/2023
3.500%
90,000.00
09/17/2020
100.000
10/01/2024
1625%
90,000.00
09/17/2020
100.000
430,000,00
. .... ............ .. ..... ......
. ......... .. . . . ....... . . ............... --
hen 15. 2020 2:34 pm Prt-pared b.v Robert IV Befird (dqj) (r:Weir yorkWhaca tivn7own qfllhaca N)"l-SAMY) Page 6
&,I VIYVG,5
TOWN OF ITUIACA, TOMPKINS COUNTY, NEW YORK
CRof2009
New Money and CR of Public Improvement Serial Bonds, 2009 and 2011
Assumptions: BQ, Moody's Aa I
Hypothetical Interest Rates as of June 12, 2020
SavinL),s Summary
PV col -savings firom cash flow
Plus: Refunding funds on hand
Potential Net PV Savings
Note: llreseM ViIILIC SI%IjIIgS 'He net ol'hypothefical costs ot'issumice.
24,092.57
(31,637,62)
20,454.95
. . . . . . . . . . . ................. . .............. .... .. ..
Jun 15, 2020 2:34 pin Prepared (7a, Rohert W Baird Neil) (),:4wwyw'Viflnwa licWTown ofilhotwAYSA410) Page 7
Prior
Refunding
Present Value
Debt
Debt
to 08/18/2020
Date
Service
Service
Savings
(c�1 0.9761242"/o
12/31/2020
87,271.88
87,271,88
87,170.43
12/31/2021
97,043.76
114,585.42
(17,541,66)
17,51('' A6)
12/31/2022
94,281.26
11 0,0(aoo
(15,718.74')
(15,545.53)
12/3 1/2023
96,412,50
11 0.250.00
(13,83'7.501)
( f 3,565.77)
12/31/2024
93,262.50
110,250.00
(16,987.50)
(16,456.11)
-
468,271,90
- - - - - ----------------- -
445,085.42
...... .........
2 3,18 6,4 8
. . . . . . . . . . .
24,09157
. . . . . .......
SavinL),s Summary
PV col -savings firom cash flow
Plus: Refunding funds on hand
Potential Net PV Savings
Note: llreseM ViIILIC SI%IjIIgS 'He net ol'hypothefical costs ot'issumice.
24,092.57
(31,637,62)
20,454.95
. . . . . . . . . . . ................. . .............. .... .. ..
Jun 15, 2020 2:34 pin Prepared (7a, Rohert W Baird Neil) (),:4wwyw'Viflnwa licWTown ofilhotwAYSA410) Page 7
SUA1JL,IR 1' Oral' REI�'UNDING RES UL TV
TOWN OF ITHACA, TOMPKINS COUNTY, NEW YORK
CR of 2009
New Money and CR of Public Improvement Serial Bonds, 2009, and 2011
Assumptions: B,Q, Moodys Aal
Hypothetical Interest Rates as of June 12, 2020
Assumed Dated Date 08/18/2020
Assumed Delivery Date 08/18/2020
Arbitrage yield 1.211572%
Escrow yield 0.132677 ,'o
Value of Negative Arbitrage 378.07
and Par Amount 395,000.00
Potential True Interest Cost 0.679745%
Potential Net Interest Cost 0,731093%
Potential All-InTIC 1.128389%
Potential Average Coupon 5M00000%
Average Life 2,536
Weighted Average Maturity 2.587
Duration 2,440
Par armlot of refunded bonds 430,000.00
Average coupon ofrefunded bonds 3,496212%
Average life of'refunded bonds 2.178
Remaining weighted average maturity of refunded bonds 2.178
PV of prior debt to 08/18/2020 0,976124% 458,715,05
Potential Net PV Savings 20,454.95
Percentage savings ofrefunded bonds 4.756965%
Jun 1-5, 2020 2:34pm Preparedb,), Roberi It'. Buird &Iqj) higo8
... . ...... . . . . . . . . . .
Am 15, 2020 2:34 pni Preporod by Robert JV j?(jo_ej (,(op (r: �new york Whaca^ iw& Town qfllhoca AT:SM10) Pqge 9
BOND DT_'BTSERI1lCE*
TOWN OF ITHACA, TOMPKINS COUNTY,
NEW YORK
CR of 2009
New Money an(]
CR of Public Improvement Serial Bonds, 211119 .anal
2011
Assumptions: BQ, Moody's Aa I
Hypothetical
Interest Rates as of June 12,
2020
Period
Annual
Ending
Principal
. ........
Coupon Interest Debt Set -vice
. . ....... . .. ........
Debt Service
08/18/2020
. ......... ... ..
02/15/2021
9,710.42
9,710.42
08/"15/20)21
95,000
5.000% 9,875.00
1014,.875,0101
12/31/20121
114,585.42
02/15/2022
7,500,00
7,500.00
08/15/2022
95,000
5.000% 7,500.00
1012,50101.0101
12/31 /20122
110,000.00
02/15/24123
5,125,00
5.125.4101
08115/2023
100,()()0
5.0101010' 1, 5,125.0101
105,125,00
12/3 ) I nL)023 )
110,250.00
02/15/2024
2,625.00
2,625.00
018/15/2024
105.000
5.00)0)x/6 2,625.00
107,625,00
12/31/2024
. . . . . . . . . .
. .........
11 0,250M
395,000
50,085A2
. .... .........................
445,085,42
445,085.42
... . ...... . . . . . . . . . .
Am 15, 2020 2:34 pni Preporod by Robert JV j?(jo_ej (,(op (r: �new york Whaca^ iw& Town qfllhoca AT:SM10) Pqge 9
5"U11IAIAR Y OF BONDS RL FUNDI -D
TOWN OF ITHACA, TOMPKINS COUNTY, NEW YORK
Cr of 2011
New Money and CR of Public Improvement Serial. Bonds, 2009 and 2011
Assumptions: 134 , Moody's AaI
Hypothetical Interest Rates as of June 12, 2020
Maturity
Interest
Par
Call
Call
Bond Date
Date
Amount
Bate
Price
Public Iniprovement Se'Hal Bonds, 2011:
SERIAL 09/01/2021
2.500%
160,000.00
09/17/2020
100.000
09/0112022
2.750%
1.05,000.00
09/17/2020
100.000
09/01/2023
3.000%
110,000.00
09/17/2020
100.000
09/01/2024
3.000%
110,000.00
09/17/2020
100.000
09/01/2025
3.000%
115,000.00
09/17/2020
100.000
09/0112026
3.000%
115,000.00
09/17/2020
100.000
09/01/2027
3.250%
120,000.00
09/17/2020
100.000
09/01/2028
3.2.50%,
125,000.00
09/17/2020
100.000
09/01/202.9
3.250%
130,000.00
09/17/2020
100.000
09101/2030
3.375°gyp
135,000.00
09/17/2020
100.000
09/01/2.031
3.500%
140,000.00
09/17/2020
100,000
1,365,000.00
ion1S,2020 2:34 pin Prepared byRobert JVBrard(dal;) (r;ira�rr)�rrr�!'�rPlacrrzftr'r�ti7��bsrrvc3fllhrrrra.�r'Y`.a�4FAiYy Puge]0
.VA VINGS
I -OWN OF ITHACA,TOMPKINS COUNTY, NEW YORK
Cr of 2011
New Money and CR of Public Improvement Serial Bonds, 2009 and 2011
Assumptions: BQ, Moody's Aral
Hypothetival Interest Rates as of June 12, 2020
Present Value
SavinLxs Summary
PV (A'savings fi-oin cash flow
Plass: Reffinding funds, oil hand
Potential Net PV Savings
Note: Present Value savings are net cal' lad pothelical costs, ofissuaircc.
144,475,82
2,097.64
Jim 15, 2020 2.34pm Prepared , Robert WBoird(dqj) PaA 11
Prior
Refunding
to 08/18/2020
Date
Debt Service
Debt Service
Savings
(cia 0.9761242%
12/31/2020
21,015.63
21,015.63
21,008.24
12/31/2021
202,031.26
19 1,517,08
10,514.18
10,304.64
12/31/2022
143,031.'26
129,950.00
13,(181,26
12,75171
12/31/2023
145,143,76
13 5,700.00
9,443.76
9,098,42
12/31 /2.092.4
141,843.76
130,950.00
10,893,76
10,409.75
12/31/2025
143,543.76
131,200.00
12,343.76
11,692.76
12/31 /20926
140,093.76
126,20000
13,893.76
13,,046.59
12/31/2027
141 643.76
131,200,00
10,443,76
9,700.14
12/31/2028
142,743,76
130,700.00 )0,700.00
12,043.76
11,089.53
12/31/2029
143,681.26
129,950.00
13,731.26
12,531.50
12/31/20301
144,456.26
13 1,350.00
13,106.26
11,841.33
12/31/2031
144,900.00
132,600.00
. . ..... ........
12,300,00
11,000.23
— — - - - - ---_------ -- -_-_------__
1,654,128.23
1,501,3 IT08
152,811.15
...... . . ...
144,475.82
. ............ .
SavinLxs Summary
PV (A'savings fi-oin cash flow
Plass: Reffinding funds, oil hand
Potential Net PV Savings
Note: Present Value savings are net cal' lad pothelical costs, ofissuaircc.
144,475,82
2,097.64
Jim 15, 2020 2.34pm Prepared , Robert WBoird(dqj) PaA 11
,VUJ1JL4R YOF REFUNDING RL'S111, 7S
TOWN OF iTHACA, TOMPKINS COUNTY, NEW YORK
Cr of 2011
New Money and CR of Public Improvement Serial Bonds, 2009 and 2011
Assumptions: BQ, Moody's Aa I
Hypothetical Interest Rates as, of.lune 12, 2020
ASSUIned Dated Date 08/18/2020
Assumcd Delivery Date 08/18/20,20
Arbitrage yield 1.211572%
Escrow yield 0. 132677%
Vakle of Negative Arbitrage 1,183.35
Bond Par Amount 1,215,000,00
Potential True Interest Cost 1,1788831x1(,
Potential Net Interest Cost 1,289466'N
Potential All -in 1.366319"/z
Potential Average Coupon 3.810005%
Average Life 6.185
Weighted Average klaftlrity 6.219
Duration 5.613
Par amount of refunded bonds 1,365,000.00
Average coupon of refunded bonds 3.227447%
Average life of refunded bonds 6,120
Remaining weighted average maturity of refunded bonds 6.120
PV of prior debt to 08/18/2020 0.976124% t,564,9 10.64
Potential Net PV Savings 146,573.46
Percentage savings ofrelunded bonds 10,7379829/u
..................... . . _.
.............. . . ..
,hop 1.5, 2020 2.34pfn Prepuredb.vRoberl CV, Baird(dal) (v 1worlown oJ Ithaca AT:S.1110) Page 12
. ......... . .
Jun 15, 2020 2, 34 pni Prepared bY Robert IV Baird (chy) (r: new.yorkwhacu tw&1bit w f?f1thacer.%T.SAf1?)) llerqe 13
B 0AID DEBT VER V7 CE
TOWN OF ITHACA, TOMPKINS COUNTY,
NEW YORK
Cr of 2011
Nevv, Money and
CR of Public
Improvement Serial Bonds, 2009 and
2011
Assumptions: 13Q, Moody's Aal
Hypothetical Interest Rates as of June
12, 2020
Period
Annual
Ending
Principal
Coupon
Interest
Debt Service
Debt Service
08/18/2020
02/15/2021
25,542,08
25,54108
08/15/2021
140,000
5.000(1,/o
25,975,00
165,975,00
12/31/2021
191,517.08
02/15/2022
22,475.00
22,475.00
08/15/2022
85,000
5.000%
22,475,00
107,475.00
12/31/2022
129,950.00
02/15/2023
20,350.00
20,350,00
08/15/2023
95,000
5.000"vo
20,350A
115,350.00
12/31/2023)
135,700.00
02/15/2024
17,975.00
17,975.00
08/15/2024
95,000
5.000%
17,975,00
112,975-00
12/31,12024
130,950.00
02/15/2025
15,600.00
15,600.00
08/15/2025
100,000
5.00Mlu
15,600.00
115,000,010
12/31/2025
13 1,200.00
02/15/2026
13.100.00
13,1.00.00
08/15/2026
100,000
5.000%o
13,100.00
113, 1 00.00
12/31/2026
126,200,00
02/15/2027
10,600.00
10,600.00
08/15/2027
110,000
5.000`16
10,600.00
120,600,00
12/31:1202.7
13 1,20'0,00
0215/2028
7,850,00
7,850.00
08/15/2028
115,000
5.000
7,850.00
122,850.00
12/31/2028
130,700.00
02/15/2029
4,975.00
4,975.00
08/15/2029
120,000
3.000%
4,975.00
124,975.00
12/31/2029
129,950.00
02/15/2030
3,175.00
3,175-00
08/15/2030
125,000
100M4)
3,175.00
128,175,00
12/31 /2030
131,350.00
02/15/2031
1,300.00
1,300.00
08/15/2031
130,000
2.00M/4
1,300.00
131,300.00
12/3 ) 1/2031
............. . . .
....
132,600.00
......... ......
t,21 5,000
286,317.08
1,501,3 17.08
1,501,3 17.08
. ......... . .
Jun 15, 2020 2, 34 pni Prepared bY Robert IV Baird (chy) (r: new.yorkwhacu tw&1bit w f?f1thacer.%T.SAf1?)) llerqe 13
UNREFUNDED BOND DER TSER VICE'
TOWN OF ITHACA,TOMPKINS COUNTY, NEW YORK
Cr ol'2011
New Money and CR of Public Improvement Serial Bonds, 2009 and 2011
Assumptions: BQ, Moody's Aal
Hypothetical Interest Rates as of,June 12, '2020
Period Annual
Ending Principal Coupon, Interest Debt Service Debt Service
. .... ......... . ..
08/18/2020
09^'01/2020 155,000 2.500'No 1,937.50 156,937.50
12/3,1/2020 156,937.50
.... . ........ . ............ . . . ........
155,000 1,93350 156,937.50 156,937.50
.. .................. . .................... . ..... ... . ......... . .......... ............ .. ..... . . .. . . . .... ---- ............
. . ........... 17=:::=�- =-
... ..
A— ----- - --- - ------------ -- ------ ------- -
n 15� 2020 2:341.)m Prepared Robert IV Buwd(d(q) (r: Weir yorkWhuca twWTown (#'Ithacei NY. SA,M) Page 14
CA L CA GL -N T S UMMA R I/
Sensitivity Analysis
Coupon Bond Escrow Net Present Refunded 11,V
Offset Par yield Vield Value Savings Savings Pct
0.200%
5,005,000.00
1.4'12'''o
0.133%
148,857,49
8293%4
0.100%
5,000,000.00
1.31 11°/�
0.1.330/6
158,149.02
8.81 f */�
(0.100%)
4,995,000.00
1,1(0/'
0,1330,10
175,94M2
9.802%
(0.200%)
4,995,000.00
1.0100,x,
0.133%
.
I84,874.33
... . ...........
10.299%
Assumptions:
Component prQjCin:0-.0615-SMRY
Delivery Date 08/18/2020
.................... . .
. . .......... . . - - - --- - ---------- - - .............. . .....
Jun 15,2020 2:37pin Prvparedb."ohert If'. Baird(daj.) pigel
1A1P0RTANTDLS'('1 OVURE"5
TOWN OF ITHACA, TOMPKINS COUNTY, NEW YORK
Hypothetical Public Improvement Refunding Serial Bonds, Series 2020
New Money and CR of Public Improvement Serial Bouds, 2009 and 2011
Assumptions: 113Q, Moody's Aal
Hypothetical Interest hates as of lune 12, 2020
Robert W. Baird & Co. Incorporated ('Baird) is not recommending that you take or not take any action, Baird is not acting as
financial advisor or municipal advisor to you and does not owe a fiduciary duty pursuant to Section 15B of the Securities E'xchange
Act of 1934 to VOLI with respect to tile information contained herein and/or accompanying materials (collectively, the 'Materials').
Baird is acting for its own interests. You should discuss the Materials with any and all internal or external advisors and experts that
You deem appropriate before acting on tile Materials.
Baird seeks to serve as underwriter in connection with a possible issuance ofinunicipal securities you may be considering, and not as
financial advisor or municipal advisor. Baird is providing the Materials for discussion PIWPOSeS Only, in anticipation of being engaged
to serve as underwriter (or placement agent).
The role of an underwriter includes the lbllowing: Municipal Securities Rulemaking Board Rule G-1 7 requires an underwriter to deal
fairly at all firries with both municipal issuers and investors. An underwriter's prii-nary role is to purchase the proposed securities to be
issued with as view to distribution in ail arm's length commercial transaction with the issuer. Ail underwriter has financial and other
interests that differ from those ofthe issuer. All uncfer%writer may provide advice to the issuer concerning the structure, tinting, terms,
and other similar matters for in issuance of municipal securities. Any such advice, however, Would be provided in the context of
serving as all underwriter and not as municipal advisor, financial advisor or fiduciary. Unlike a municipal advisor, an underwriter
does not have a fiduciary duty to (lie issuer under the federal Securities laws, and is therefore not required by federal law to act in the
best interests of tile issuer without regard to its own financial or other interests. An undervvriter has a duty to purchase securities from
the issuer at a fair and reasonable price but BILISt balance that duty With its duty to sell those Securities to investors at prices that are
fair and reasonable. All underwriter will review the official statement (if any) applicable to the proposed issuance in accordance with,
and as part of', its responsibilities to investors under the federal securities laws, as applied to the facts and circumstances ofthe
proposed issuance.
Tile Materials, do not include any proposals, recommendations or Suggestions that you take or refrain fi-orn taking any action with
regard to Qin issuance Of Municipal securities and are not intended to be and should not be construed as "advice" within the meaning of
Section 15B of the Securities Exchange Act of 1934 or Rule 1513al - I thereunder. The Materials are intended to provide information
of a factual, objective or educational nature, as well as general inforluation about Baird (including its Public Finance unit) and its
experience, qualifications and capabilities.
An), information or estimates contained in the Materials are based Oil publicly available data, including information about receipt
transactions believed to be comparable, and Baird's experience, and are subject to change without notice. Baird has not independently
verified the accuracy Of Such data. Interested parties are advised to contact Baird for more information.
If you have any questions or concerns about the above disclosures, please contact Baird public I"inance.
IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that the Materials do not
constitute tax advice and shall not be used for the purpose of (i) avoiding tax penalties or (ii) promoting, marketing or recommending
to another party any transaction or matter addressed herein.
Jmi 15, 2020 2.341mi Preparedh) Robert W Buird(ity) (r, SIMI) Page 15
MEETING OFTHE ITHACATOWN 130AIZD
Alonday, June 22, 2020
T13 Resolution No. 2020 -XXX: Town of Ithaca Abstract No. 12 for FY -2020
Whereas the followin numbered vouchers have been presented to the Ithaca Town Board
t'or approval of payment; and
Whereas the said VOLICIM-S have been audited for payment by the said Town Board; now
theref6re be it
Resolved that the governing Town Board hereby authorizes the payment of' the said
Z:�
vouchers in total for the amounts indicated.
VOUCHER NOS. 620-675
General Fund Town Wide
31.327.24
General Fund Part. Town
1,220.17
Highway Fund Town Wide DA
902.68
Flighway Fund Part Town DB,
127,968.32
Water Fund
344,801.61
................... ...
Sewer Fund
57,965.72_
Gateway Trai I — HS
State ROWC 96b Sidewalk — 1-37
9,975.69
PWF Renovations Project — H22
6.969.78
Risk Retention Fund
61.58
Fire Protection Fund
280,000.00
Forest Home Lio itin District
36.93
Glenside Lighting District
11.03
Renwick Heihts Li ghting'Di strict
18.44
Eastwood Commons LiOliting District
6 25.81
Clover Lane Lighting District
3.42
Winner's Circle Lighting District
5.13
Burleigh Drive Lighting District
12.03
West Haven Road Lighting District 47,72
.76
Trust and A�enCy
Debt Service
TOTAL
861,381.06
Moved: Seconded:
Vote:
ABSTRACT OF AUDITED VOUCHERS
GENERAL FUND TOWNWIDE
TOWN OF ITHACA page 1 of 23 TOMPKINS COIJNTY, NEW YORK
DATE OF AUDIT: 06/22/2020 NUMBER 012 TOTAL CLAIMS: $861,381.06
To the Supervisor:
I certify that the vouchers listed on this Abstract were audited by the Town Board on the above date and allowed in the
amounts shown. You are hereby authorized to pay to each of the claimants the amount opposite their name.
Date
Town Clerk/Comptroller
Voucher # Claimant/Invoice/Description
Account #
Amount
Check
620
ALLIANCE ONE LLC
A7110.451
9.79
16249
INV # 36817/FUEL FILTERS # I 1 & # 14
06/23/2020
622
AMERICAN RENTALS LLC
A7110.440
32.43
16250
INV # 003031913/DOT VESTS
06/23/2020
62.5
CASELLA WASTE SERVICES INC -48
A1620.443
183.85
16252
INV # 1536585/TRASH REMOVAL FOR JUNE
06/23/2020
626
CASELLA WASTE SERVICES INC -48
A5132.441
112.17
16252
INV # 1536944/TRASH REMOVAL FOR JUNE
06/23/2020
626
CASELLA WASTE SERVICES INC -48
A7110.441
112.17
16252
INV # 1536944/TRASH REMOVAL FOR JUNE
06/23/2020
629
CINTAS CORP LOC 121 INC
A5132.441
18.08
16254
INV # 4052216273/WIPERS/MOPS/TOWELS 6/3120
06/23/2020
629
CINTAS CORP LOC 121 INC
A7110.440
3.01
16254
INV # 4052216273/WIPERS/MOPS/TOWELS 6/3/20
06/23/2020
630
CINTAS CORP LOC 121 INC
A5132.441
18.08
16254
INV # 40528471401WIPERS/MOPS/TOWELS 6/10120
06/23/2020
630
CINTAS CORP LOC 121 INC
A7110.440
3.01
16254
INV # 4052847140/WIPERS/MOPS/TOWEI.S 6/10/20
06/23/2020
631
CITY OF ITHACA
A5681.203
8,000.00
16255
INV # 81319/14ECTOR STREET PROJECT
06/23/2020
634
CONSTELLATION NEW ENERGY INC
A3310.454
3.19
16256
INV # 17480121201/ELECTRIC
06/23/2020
634
CONSTELLATION NEW ENERGY INC
A5132.447
17.02
16256
INV # 17480121201/ELECTRIC
06/23/2020
634
CONSTELLATION NEW ENERGY INC
A5182.400
633.53
16256
INV # 17480121201/ELECTRIC
06/23/2020
635
CULLIGAN WATER
A 1620.446
2.75
16257
INV # 272X26232704/LATE FEE
06/23/2020
635
CULLIGAN WATER
A 1620.446
55.00
16257
INV # 272X26232704/BOTTLE FREE RENT 611/20-6130120
06/23/2020
637
DRAKE --JUDY
A:7550.400
321.80
16260
REIMBURSEMENT OF/2020 APPRECIATION SERVICE AWARDS
06/23/2020
638
ENERGETIX CORPORATION
A5010.427
153.00
16261
INV # 3162/DRUG TESTING FOR MAY
06/23/2020
640
GANNETT CENTRAL NY NEWSPAPERS
A1410.423
203.67
16263
INV # 3367202/MAY LEGAL ADS
06/23/2020
ABSTRACT OF AUDITED VOUCHERS
TOWN OF ITHACA
DATE OF AUDIT; 06/22/2020
GENERAL FUND TOWNWIDE
Page 2 of 23 TOMPKINS COUNTY, NEW YORK
NUMBER 012 TOTAL CLAIMS: $861,381.06
Voucher # Claimant/Invoice/Description
Account #
Amount
Check.
642
HOME DEPOT CREDIT SERVICES
A7180.420
7.96
16265
A/C # 6035322540609785/INV # 1021.729 TOOLS COMM GARDEN
06/23/2020
644
LEARNING WEB
A7320.466
14,127.50
16267
20202ND QTR PYMT/JOINT YOUTH COMMISSION PROG
06/23/2020
645
MAGUIRE FORD INC
A7110.451
4.87
16268
INV # 53394T1RANSDUCER # 16
06/23/2020
646
METRODATA SERVICES INC
A443
49.00
16269
INV # 28067/13ACKGROUND CK GUSTAFSON
06/23/2020
647
MIRABITO ENERGY PRODUCTS INC
A7110.450
398.68
16270
INV # 622475/DIESEL FUEL
06/23/2020
647
MIRABITO ENERGY PRODUCTS INC
A8540.450
44.30
16270
INV # 622475/DIESEL FUEL
06/23/2020
649
OFFICE EQUIPMENT SOURCE, INC
A1670.437
75.32
16272
INV # 32124/XEROX C405
06/23/2020
649
OFFICE EQUIPMENT SOURCE, INC
A 1670.437
57.45
16272
INV # 32555/XEROX C405
06/23/2020
650
QUILL LLC
A1620.442
55.59
16273
INV # 7644448/NEW ORDER HAND SANITIZERS
06/23/2020
650
QUILL LLC
A 1620.442
-55.59
16273
INV # 989806/CREDIT NO DELIVERY HAND SANITIZERS
06/23/2020
650
QUILL LLC
A 1620.442
59.98
16273
INV # 7570974/PAPER TOWELS
06/23/2020
650
QUILL LLC
A1620.442
55.59
16273
INV # 7479340/HAND SANITIZERS
06/23/2020
650
QUILL LLC
A 1660.404
42.99
16273
INV # 7411.364/ROD INK CARTILAGE
06/23/2020
652
SAN1CO, INC
A7110.440
18.54
16276
INV # 189758/CASE OF DISINFECTANT SPRAY
06/23/2020
656
SHAW, DONNA
A 1430.421
175.00
16278
INV # 34275/EXCEL ADVANCED FINANCE TOOLS
06/23/2020
661
SOUTHWORTH-MILTON INC
A7110.451
20.85
16282
INV # 1963136/5 GALLONS HYDRA FLUID BLUE
06/23/2020
662
STADIUM INTERNATIONAL TRUCKINC
A7110.451
267.42
16283
NV # 2413683/CAB CONTROL MODULE FOR # 15
06/23/2020
663
STAPLES CONTRACT
A 1440.400
480.94
16284
INV # 8058351854/OFFICE SUPPLIES
06/23/2020
663
STAPLES CONTRACT
A 1440.459
33.57
16284
INV # 8058351854/OFFICE SUPPLIES
06/23/2020
663
STAPLES CONTRACT
A 1660.404
100.25
16284
INV # 8058351854/OFFICE SUPPLIES
06/23/2020
664
THALER,& THALER
A1420.402
1,957.50
16286
INV # 40555/LEGAL SERVICES FOR MAY
06/23/2020
665
THE ITHACA JOURNAL# 1007
A1410.400
586.05
16287
A/C # IJ0031205/NEWSPAPER SERVICES FOR YEAR
06/23/2020
ABSTRACT OF AUDITED VOUCHERS
GENERAL FUND TOWNWIDE
TOWN OF ITHACA Page 3 of 23 TOMPKINS COUNTY, NEW YORK
DATE OF AUDIT: 06/22/2020 NUMBER 012 TOTAL CLAIMS; $861,381.06
Voucher # Claimant/Invoice/Description
Account #
Amount
Check
666
TOMPKINS CORTLAND COMM COLLEGE
A443
298.00
16288
INV # TCEC-3855/CLASSES FOR FISHEIt/SHERWOOD
06/23/2020
669
VASCO BRANDS, INC
A7110.440
35.36
16290
INV # 121256/INFRARED THERMOMETERS
06/23/2020
670
VERIZON INC
A5132.415
27.01
16291
A/C # 751-753-224-0001-121607-257-4165-419-254
06/23/2020
670
VERIZON INC
A5132.415
27.91
16291
A/C # 651-753-350-0001-68/607-273-9953-290-254
06/23/2020
673
XEROX CORPORATION
A1670.437
350.50
16295
INV # 010386198/XEROX 7845
06/23/2020
674
DOYLE SECURITY SYSTEMS INC
A1620A44
676.44
16259
INV # 955592/WARRANTY AGREEMENT
06/23/2020
675
VERIZON WIRELESS INC
A1220.415
169.82
16292
INV 4 9856489571/A/C 4 980125855-0001
06/23/2020
675
VERIZON WIRELESS INC
A1430.415
76.27
16292
INV # 9856489571/A/C # 980125855-0001
06/23/2020
675
VERIZON WIRELESS INC
A1440.415
260.82
16292
INV # 9856489571 /A/C # 980125855-0001
06/23/2020
675
VERIZON WIRELESS INC
A1680.415
97.67
1.6292
INV # 9856499571/A/C # 980125855-0001
06/23/2020
675
VERIZON WIRELESS INC
A5132.415
791.72
16292
INV # 9856489571/A/C # 980125855-0001
06/23/2020
675
VERIZON WIRELESS INC
A7110.415
69.41
16292
INV # 9856489571/A/C # 980125855-0001
06/23/2020
ABSTRACT OF AUDITED VOUCHERS
GENERAL FUND PART TOWN
TOWN OF ITHACA Page 4 of 23 TOMPKINS COUNTY, NEW YORK
DATE OF AUDIT: 06/22/2020 NUMBER 012 TOTAL CLAIMS; $861,381.06
Voucher # Claimant/Invoice/Description
Account #
Amount
Check
650
QUILL LLC
B1660.404
31,99
16273
INV # 7397798/LAPTOP BAG FOR RITITR
06/23/2020
664
THALER & THALER
B 1420.402
315.00
16286
INV # 40555/LEGAL SERVICES FOR MAY
06/23/2020
673
XEROX CORPORATION
B1670.437
392.65
16295
INV 9 010386197/XEROX 7830
06/23/2020
675
VERIZON'WIRELESS INC
88010.415
480.53
16292
INV # 9856489571/A/C # 980125855-0001
06/23/2020
ABSTRACT OF AUDITED VOUCHER
HIGHWAY TOWNWIDE
TOWN OF ITHACA Page 5 of 23 TOMPKINS COUNTY, NEW YORK
DATE OF AUDIT: 06/22/2020 NUMBER 01.2 TOTAL CLAIMS: $861,381,06
Voucher # Claimant/Invoice/Description
Account #
Amount
Check
620
ALLIANCE ONE LLC
DA5130.451
5.27
16249
INV # 36817/FUEL FILTERS # I 1 & # 14
06/23/2020
629
CINTAS CORP LOC 121 INC
DA5130.459
2.01
16254
INV # 4052216273/WIPERS/MOPS/TOWELS 6/3/20
06/23/2020
630
CINTAS CORP LOC 121 INC
DA5130.459
2.01
16254
INV # 4052847140/WIPERS/MOPSfrOWELS 6/10/20
06/23/2020
645
MAGUIRE FORD INC
DA5130.451
2.62
16268
INV # 53394/TRANSDUCER # 16
06/23/2020
647
MIRABITO ENERGY PRODUCTS INC
DA5142.450
642.32
16270
INV # 622475/DIESEL FUEL
06/23/2020
661
SOUTHWORTH-MILTON INC
DA5130.450
23.03
16282
INV # 1963136/5 GALLONS HYDRA FLUID BLUE
06/23/2020
661
SOUTHWORTH-MILTON INC
DA51.30.451
11.72
16282
INV # 1963136/5 GALLONS HYDRA FLUID BLUE
06/23/2020
662
STADIUM INTERNATIONAL TRUCKINC
DA51.30.451
143.99
16283
INV # 2413683/CAB CONTROL MODULE FOR # 15
06/23/2020
672
WILLIAMS LUBRICANTS, INC
DA5130.450
69.71
16294
INV # 607261/GALLONS OF TERRACAIR DFF
06/23/2020
ABSTRACT OF AUDITED VOUCHERS
HIGHWAY FUND PART TOWN
TOWN OF ITHACA Page 6 of 23 TOMPKINS COUNTY, NEW YORK
DATE OF AUDIT: 06/22/2020 NUMBER 012 TOTAL CLAIMS: $861,381.06
Voucher # Claimant/Iuvoice/Description
Account #
Amount
Check
620
ALLIANCE ONE LLC
DB5130.451
47.43
16249
INV # 36817/FUEL FILTERS # I 1 & # 14
06/23/2020
622
AMERICAN MENTALS LLC
DB5140.440
93.45
16250
INV # 003031913/DOT VESTS
06/23/2020
629
CINTAS CORP LOC 121 INC
DB5130.459
18.08
16254
INV # 4052216273/WIPERS/MOPS/I"OWELS 6/3120
06/23/2020
629
CINTAS CORP LOC 121 INC
DB5140.440
3.01
16254
INV # 4052216273/WIPERS/MOPS/I'OWELS 6/3/20
06/23/2020
630
CINTAS CORP LOC 121 INC
DB5130.459
18.08
16254
INV # 4052847140/WIPERS/MOPS/'TOWELS 6110/20
06/23/2020
630
CINTAS CORP LOC 121 INC
DB5140.440
3.01
16254
INV # 4052847140/WIPERS/MOPSfI'OWELS 6110/20
06/23/2020
643
ITHACA ICE COMPANY LLC
DB5110.459
50.00
16266
INV # 202000225/ICE
06/23/2020
645
MAGUIRE FORD INC
DB5130.451
23.61
16268
INV # 53394/TRANSDUCER# 16
06/23/2020
647
MIRABITO ENERGY PRODUCTS INC
DB5110.450
332.23
16270
INV # 6224751DIESEL FUEL.
06/23/2020
647
MIRABITO ENERGY PRODUCTS INC
DB5112.450
332.23
16270
INV # 622475/DIESEL FUEL
06/23/2020
651
REEVES FARMS TRUCKING LLC
DB5110.453
747.50
16274
INV # 1006NARDS SCREENDED TOPSOIL
06/23/2020
652
SANICO, INC
D135140.440
53.42
16276
INV # 189757/CASE OF DISINFECTANTSPRAY
06/23/2020
654
SENECA STONE CORP
DB5112.453
123,236.96
16277
INV # 900-20-03/TYPE 7 & MILLINGS
06/23/2020
655
SENECA STONE CORP
D135110.453
88.72
16277
INV # 13792/ROC FOR STOCK & MILLING
06/23/2020
657
SHERWIN-WILLIAMS CORP
D135110.453
153.50
16279
INV # 0124-4/PAINT STRIPING SUPPLIES
06/23/2020
658
SHERWIN-WILLIAMS CORP
DB5110.453
153.50
16279
INV # 0236-6/PAINT STRIPING SUPPLIES
06/23/2020
661
SOUTHWORTH-MILTON INC
DB5130.450
154.14
16282
INV # 1963136/5 GALLONS HYDRA FLUID BLUE
06/23/2020
661
SOUTHWORTH-MILTON INC
DB5130.451
101.07
16282
INV # 1963136/5 GALLONS HYDRA FLUID BLUE
06/23/2020
662
STADIUM INTERNATIONAL TRUCKINC
DB5130.451
1,295.94
16283
INV # 2413683/CAB CONTROL MODULE FOR # 15
06/23/2020
664
THALER & THALER
DB 1420.402
135.00
16286
INV # 40555/LEGAL SERVICES FOR MAY
06/23/2020
667
T C RECYCLING & MATERIALS MGT.
DB5130.451
6.00
16285
INV # 1347/DISPOSAL OF TIRES & TRANS
06/23/2020
669
VASCO BRANDS, INC
D135140.440
101.92
16290
INV # 121256/INFRARED THERMOMETERS
06/23/2020
ABSTRACT OF AUDITED VOUCHERS
HIGHWAY FUND PART TOWN
TOWN OF ITHACA page 7 of 23 TOMPKINS COUNTY, NEW YORK
DATE OF AUDIT: 06/22/2020 NUMBER 012 TOTAL, CLAIMS: $861,381.06
Voucher # Claimant/Invoice/Description Account # Amount Check
672 WILLIAMS LUBRICANTS, INC D135130.450 466.54 16294
INV # 60726 UGALLONS OF TERRACAIR DEF 06/23/2020
673 XEROX CORPORATION DB1670.437 352.98 16295
INV # 010386196/XEROX 7855 06/23%2020
ABSTRACT OF AUDITED VOUCHERS
WATER FUND
TOWN OF ITHACA Page 8 of 23
DATE OF AUDIT: 06/22/2020 NUMBER 012
TOMPKINS COUNTY, NEW YORK
TOTAL CLAIMS: $861,381.06
Voucher # Claimant/Invoice/Description
Account #
Amount
Check
620
ALLIANCE ONE LLC
F8340.451
5.26
16249
INV # 36817/FUEL FILTERS # 11 &, # 14
06/23/2020
621
AMERICAN RENTALS LLC
F8340.476
195.00
16250
INV # 003031942/SEALER BARACADE WATER PUMP ST MAINTEN
06/23/2020
622
AMERICAN RENTALS LLC
F8340.440
32.43
1.6250
INV # 003031913/DOT VESTS
L
06/23/2020
627
CHICAGO CONSTRUCTION CO
F8340.562
2,000.00
16253
PAY APP # 5/MURIEL ST WATER MAIN REPLACE PROD
06/23/2020
628
CHICAGO CONSTRUCTION CO
F8340.563
2,000.00
16253
PAY APP # 8/WINTHROP WATER MAIN REPLACE PROJ
06/23/2020
629
CINTAS CORP LOC 121 INC
F8340.440
3.01
16254
INV # 4052216273/WIPERS/MOPS/TOWELS 6/3120
06/23/2020
630
CINTAS CORP LOC 121 INC
F8340.440
3.01
16254
INV # 4052847140/WIPERS/MOPS/TOWELS 6/10/20
06/23/2020
633
CONSTELLATION NEW ENERGY INC
F8340.447
34.22
16256
INV # 1764781740 VELECTRIC
06/23/2020
633
CONSTELLATION NEW ENERGY INC
F8340.447
5.37
16256
INV # 17635202401/ELECTRIC
06/23/2020
633
CONSTELLATION NEW ENERGY INC
F8340.447
5.09
16256
INV # 1764781780 ]/ELECTRIC
06/23/2020
633
CONSTELLATION NEW ENERGY INC
F8340.447
-5.75
16256
INV # 17452663002/ELECTRIC
06/23/2020
634
CONSTELLATION NEW ENERGY INC
F8340.447
854.83
16256
INV # 1748012120VELECTRIC
06/23/2020
645
MAGUIRE FORD INC
F8340.451
2.63
16268
INV # 53394/TRANSDUCER # 16
06/23/2020
647
MIRABITO ENERGY PRODUCTS INC
F8340.450
243.64
16270
INV # 622475/DIESEL FUEL
06/23/2020
648
NYSEG
F8340.447
107.01
16271
A/C # 10048133309/ELECTRIC
06/23/2020
652
SANICO, INC
F8340.440
18.54
16276
INV # 189758/CASE OF DISINFECTANT SPRAY
06/23/2020
653
S.C.L.I.W.C.
F8340.471
514.15
16275
INV # 1492/WORK. DONE BY BOLTON POINT
06/23/2020
661
SOUTHWORTH-MILTON INC
F8340.451
11.72
1.6282
INV # 1963136/5 GALLONS HYDRA FLUID BLUE
06/23/2020
662
STADIUM INTERNATIONAL TRUCKINC
F8340.451
143.99
16283
INV # 2413683/CAB CONTROL MODULE FOR # 15
06/23/2020
668
VACRI CONTRUCTION COMPANY
F8340.564
338,222.24
16289
PAY APP # 1/WINSTON-SALEM WATER MAIN
06/23/2020
669
VASCO BRANDS, INC
F8340.440
35.36
16290
INV # 121256/ANFRARED THERMOMETERS
06/23/2020
673
XEROX CORPORATION
F 1670.437
239.70
16295
INV # 010386199/XEROX 7855
06/23/2020
ABSTRACT OF AUDITED VOUCHERS
WATER FUND
TOWN OF ITHACA Page 9 of 23
DATE OF AUDIT: 06/22/2020 NUMBER 012
TOMPK.INS COUNTY, NEW YORK
TOTAL CLAIMS: $861,381.06
Voucher # Claimant/Invoice/Description Account # Amount Check
675 VERIZON WIRELESS INC F8340.415 130.16 16292
INV # 985648957 )/A/C # 984125855-0001 06/23/2020
ABSTRACT OF AUDITED VOUCHEW
SEWER FUND
TOWN OF ITHACA Page 10 of 23 TOMPKINS COUNTY, NEW YORK
DATE OF AUDIT: 06/22/2020 NUMBER 012 TOTAL CLAIMS: $861,381.06
Voucher # Claimant/Invoice/Description
Account #
Amount
Check,
620
ALLIANCE ONE LLC
G8120.451
7.53
16249
INV # 36817/FUEL FILTERS # I 1 & # 14
06/23/2020
622
AMERICAN RENTALS LLC
G8120.440
32.43
16250
INV # 003031913/DOT VESTS
06/23/2020
629
CINTAS CORP LOC 121 INC
G8120.440
3.01
16254
INV # 4052216273/WIPERS/MOPS/TOWELS 6/3/20
06/23/2020
630
CINTAS CORP LOC 121 INC
G8I20.440
3.01
16254
INV # 4052847140/WIPERS/MOPS/1`OWELS 6/10/2.0
06/23/2020
634
CONSTELLATION NEW ENERGY INC
68120.447
166.61
16256
INV # 17480121201/ELECTRIC
06/23/2020
636
DIVERSIFIED INFRASTRUCTURE SVC
68120.564
51,310.45
16258
INV # 37005548/SANITARY SEWER REHAB PROJECT
06/23/2020
645
MAGUIRE FORD INC
G8120.451
3.75
16268
INV # 53394/TRANSDUCER # 16
06/23/2020
647
MIRABITO ENERGY PRODUCTS INC
08120.450
221.49
16270
INV # 622475/DIESEL FUEL
06/23/2020
652
SANICO, INC
G8120.440
18.54
16276
INV # 189758/CASE OF DISINFECTANT SPRAY
06/23/2020
659
SIEWERT EQUIPMENT
G8120.476
5,104.00
16280
INV # ROCH00396/SMARTLIGHT REPLACEMENT
06/23/2020
660
SMITH INC —JC
G8120.470
5990
16281
INV # 1473219/MASON MIX SEWER MAINTCN
06/23/2020
661
SOUTHWORTH-MILTON INC
G8120.451
16.04
16282
INV # 1963136/5 GALLONS HYDRA FLUID BLUE
06/23/2020
662
STADIUM INTERNATIONAL TRUCKINC
G8120.451
205.70
16283
MV # 2413683/CAB CONTROL MODULE FOR # 15
06/23/2020
664
THALER & THALER
G 1420.402
360.00
16286
INV # 40555/LEGAL SERVICES FOR MAY
06/23)2020
669
VASCO BRANDS, INC
G8120.440
35.36
16290
INV # 121256/INFRARED THERMOMETERS
06/23/2020
670
VERIZON INC
G8120.415
48.04
16291
A/C # 651-753-224-0001-39/607-257-4128-280-256
06/23/2020
673
XEROX CORPORATION
G 1670.437
239.70
16295
INV # 010386199/XEROX 7855
06/23/2020
675
VERIZON WIRELESS INC
G8120.415
130.16
16292
INV # 9856489571/A/C # 980125855-0001
06123/2020
ABSTRACT OF AUDITED VOUCHERS
PUBLIC WORKS FACILITY EXPANSION
TOWN OF ITHACA Page 11 of 23 TOMPKINS COUNTY, NEW YORK
DATE OF AUDIT: 06/22/2020 NUMBER 012 TOTAL CLAIMS: $861,381.06
Voucher # Claimant/Invoice/Description Account # Amount Check
641 HOLT ARCHITECTS, P.C. H22-5132.204 6,264.78 16264
INV # 21.8056014/CONTRACT ADMINISTRATION 06/23/2020
671 VERSARILE OFFICE TRAILERS H22-5132.400 705.00 16293
INV # 15704/PWF RENOVATIONS 2020 06/23/2020
ABSTRACT OF AUDITED VOUCHERS
STATE ROUTE 96B SIDEWALK
TOWN OF ITHACA Page 12 of 23 TOMPKINS COUNTY, NEW YORK
DATE OF AUDIT: 06/22/2020 NUMBER 012 TOTAL CLAIMS: $861,381.06
Voucher # Claimant/Invoice/Description Account # Amount Check
639 ERDMAN ANTHONY & ASSOCIATES 1-17-5410.203 9,975.69 16262
INV # 15/RTE 96/DANBY RD SIDEWALK PROD 06/23/2020
ABSTRACT OF AUDITED VOUCHERS
RISK RETENTION FUND
TOWN OF ITHACA Page 13 of 23 TOMPKINS COUNTY, NEW YORK
DATE OF AUDIT: 06/22/2020 NUMBER 012 TOTAL CLAIMS: $861,38I.06
Voucher # Claimant/Invoice/Description Account # Amount Check
624 BUDDENHAGEN, TAYLOR. 84510.451 21.59 16251.
TIRE DAMAGE 5/27/2020/CLAIM REIMBURSEMENT 06/23/2020
650 QUILL LLC 84510.425 39.99 16273
z INV # 7637965/HAND CART FOR CSA PICK UP 06/23/2020
ABSTRACT OF AUDITED VOUCHERS
FIRE PROTECTION FUND
TOWN OF ITHACA Page 14 of 23 TOMPKINS COUNTY, NEW YORK
DATE OF AUDIT: 06/22/2020 NUMBER 012 TOTAL CLAIMS: $861,381.06
Voucher # Claimant/Invoice/Description Account # Amount Check
632 CITY OF ITHACA SF3410.480 280,000.00 16255
2020 FIRE PROTECTION PYMT/ADMIN & EXPENSES MAY 2020 06/23/2020
ABSTRACT OF AUDITED VOUCHERS
L J
FOREST HOME LIGHT DIST
TOWN OF ITHACA Page 15 of 23 TOMPKINS COUNTY, NEW YORK
DATE OF AUDIT: 06/22/2020 NUMBER 012 TOTAL CLAIMS: $861,381,06
Voucher # Claimant/Invoice/Description Account # Amount Check
634 CONSTELLATION NEW ENERGY INC SLI -5182.447 36.93 16256
INV # 1748012120UELECTRIC 06/23/2020
ABSTRACT OF AUDITED VOUCHERS
GLENSIDE LIGHT DIST
TOWN OF ITHACA Page 16 of 23 TOMPKINS COUNTY, NEW YORK
DATE OF AUDIT: 06/22/2020 NUMBER 012 TOTAL CLAIMS: $861,381.06
Voucher # Claimantllnvoice/Description Account # Amount Check
634 CONSTELLATION NEW ENERGY INC SL2-51$2.447 11.03 16256
INV # 17480121201/ELECTRIC 06/23/2020
ABSTRACT OF AUDITED VOUCHERS
RENWICK HGTS LIGHT DIST
TOWN OF ITHACA Page 17 of 23 TOMPKINS COUNTY, NEW YORK
DATE OF AUDIT: 06/22/2020 NUMBER 012 TOTAL CLAIMS: $861,381.06
Voucher # Claimant/Invoice/Description Account # Amount Check
634 CONSTELLATION NEW ENERGY INC SL3-5182.447 18.44 16256
INV 4 17480121201/ELECTRIC 06/23/2020
ABSTRACT OF AUDITED VOUCHERS
EASTWOOD COMMONS LIGHT :DIST
TOWN OF ITHACA Faye 18 of 23 TOMPKINS COUNTY, NEW YORK
DATE OF AUDIT: 06/22/2020 NUMBER 012 TOTAL CLAIMS: $861,381.06
Voucher # Claimant/Invoice/Description Account # Amount Check
634 CONSTELLATION NEW ENERGY INC SL4-5182.447 25.81 16256
INV # 1748012120VELECTRIC 06/23/2020
ABSTRACT OF AUDITED VOUCHERS
CLOVER LANE LIGHT DIST
TOWN OF ITHACA Page 19 of 23 TOMPKINS COUNTY, NEW YORK
DATE OF AUDIT: 06/22/2020 NUMBER Olt TOTAL CLAIMS: $861,381.06
Voucher # Claimant/Invoice/Description Account # Amount Check
634 CONSTELLATION NEW ENERGY INC SL5-5182.447 3.42 16256
INV # 17480121201/ELECTRIC 06/23/2020
ABSTRACT OF AUDITED VOUCHER,
WINNER'S CIRCLE LIGHT DIST
TOWN OF ITHACA Wage 20 of 23 TOMPKINS COUNTY, NEW YORK
DATE OF AUDIT: 06/22/2020 NUMBER Olt TOTAL CLAIMS: $861M1.06
Voucher # Claimant/Invoice/Description Account # Amount Check
634 CONSTELLATION NEW ENERGY INC SL6-5182.447 5.13 16256
INV # 1748012120VELECTRIC 06/23/2020
ABSTRACT OF AUDITED VOUCHERS
BURLEIGH DRIVE LIGHT DIST
TOWN OF ITHACA Page 22 of 23 TOMPKINS COUNTY, NEW YORK
DATE OF AUDIT: 06/22/2020 NUMBER 012 TOTAL CLAIMS: $861,381.06
Voucher # Claimant/Invoice/Description Account # Amount Check
634 CONSTELLATION NEW ENERGY INC SL7-5182.447 12.03 16256
INV # 17480121201/ELECTRIC 06/23/2020
ABSTRACT OF AUDITED VOUCHERS
WEST HAVEN ROAD LIGHT DIST
TOWN OF ITHACA Page 22 of 23 TOMPKINS COUNTY, NEW YORK
DATE OF AUDIT: 06/22/2020 NUMBER 012 TOTAL CLAIMS: $861,381.06
Voucher # Claimant/Invoice/Description Account # Amount Check
634 CONSTELLATION NEW ENERGY INC SL8-51$2.447 47.72 16256
INV # 17480121201/ELECTRIC 06/23/2020
ABSTRACT OF AUDITED VOUCHERS
CODDINGTON ROAD LIGHT DIST
TOWN OF ITHACA Page 23 of 23 TOMPKINS COUNTY, NEW YORK
DATE OF AUDIT: 06/22/2420 NUMBER Olt TOTAL CLAIMS: $861,381.06
Voucher # Claimant/Invoice/Description Account # Amount Check
634 CONSTELLATION NEW ENERGY INC SL9-5182.447 27.76 16256
INV # 1748012120VELECTRIC 06/23/2020