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Village Board Minutes

August 5, 2013 (12)

A special meeting of the Village Board was held August 5, 2013 at 6:00 PM in the Village Hall, 244 Main Street.

Mayor Morreale called the meeting to order and led the Pledge of Allegiance.

Roll Call: Trustee Denno and Trustee Halliday were present. Trustee Enekes and Trustee Saunders were excused.


Jason Denno of the Environmental Facilities Corporation and Chad Kortz of CT Male were present and discussed the financing of the water project. The bids for the filtration portion of the project were submitted July 31 and were higher than initial estimates. Chad Kortz stated he was crafting a memo to the Board addressing the bids and his recommendations which will be provided before the Wednesday Board meeting. Jason Denno stated there are many projects across the state coming in much higher than expected. Due to the fact that our project has not reached the final approval with the EFC loan committee which sets the closing on short term financing, Mr. Denno recommended the Board consider increasing the serial bond resolution for the project to $9 million from the initial $7.5 million in order to provide a safety net for the Village in case other parts of the project come in over projected budgets. Mr. Denno explained that the Village is not required to use all of the money granted and that only the amount of money actually used would be required to be paid back. If the Board wishes to trim back portions of the project to avoid incurring more costs, that is an option at a later date. After much discussion, the Board concluded to increase the amount of the serial bond while recognizing that the Board will be under no obligation to spend the entire amount. This will preserve the 0% hardship designation granted the Village, keep the closing costs confined to one short-term closing, and allow room for potential overages with no obligation to spend the full $9 million.



Resolution #18 approved, authorizing the issuance of up to $9,000,000 serial bonds for the construction of a water filtration treatment system, including installation of water distribution mains, water connections, water meters and all necessary infrastructure; subject to permissive referendum pursuant to Section 36 of the Local Finance Law.

Resolution #19 approved, acceptance of Building Inspector/Code Enforcement Officer John Jacon resignation effective 8/30/13.

Motion by Trustee Halliday, seconded by Trustee Denno, approved publication of BI/CEO vacancy in the Pennysaver.
Carried 3- 0


Motion by Mayor Morreale, seconded by Trustee Denno, that Board adjourn, 6:42 PM.
Carried 3 0

Nicole M. Colson