HomeMy WebLinkAbout2015-5-14 minutes.pdf
EXHIBIT 2016-000
Minutes VILLAGE OF CAYUGA HEIGHTS Thursday, May 14, 2015
Marcham Hall BOARD OF TRUSTEES SPECIAL MEETING 11:45 a.m.
Present: Mayor Supron; Trustees: Biloski, Robinson, and Woodard; Clerk & Treasurer Mangione
Call to Order: Mayor Supron called the meeting to order at 11:45 a.m.
A special meeting of the Board of Trustees was called following a meeting of the Finance Committee, to repayment
options for the Water System Improvements bond anticipation note (BAN). Mayor Supron joined the meeting providing a
quorum and a resolution was passed to proceed with financing as agreed.
Resolution # 7637
BE IT RESOLVED THAT: The Board of the Trustees of the Village of Cayuga Heights approves payment of
$250,000 from the Water Fund (F) and a five year Statutory Installment Bond of $450,000 on May 22, 2015 to satisfy the
Water Improvement Bond Anticipation Note (BAN) of $700,000. Tompkins Financial is the financing institution; the
interest rate is 2.35%.
Motion: Trustee Woodard
Second: Trustee Robinson
Discussion: none
Ayes: Mayor Supron, Trustees Biloski, Robinson, and Woodard
Nays and Abstentions: none
Motion carried
Meeting of the Village of Cayuga Heights Board of Trustees was adjourned by Mayor Supron at 11:55 a.m.