HomeMy WebLinkAboutEFC LoanNew York State Environmental Facilities Corporation
S (800) 882-9721 Within NY State (518) 457-4100
FAX: (5 18) 485-8773
TERRY AGFIISS, APPLICATION FORM
President
NeW York State Water Pollution Control
Revolving Funa
The following information is necessary to process your request for financial assistance from the New York
State Water Pollution Control Revolving Fund (SRF). Please answer all questions contained in this form.
• A separate set of instructions is provided in the application package to assist you in properlycompleting
this Application Form. It is important to follow these instructions to ensure the accuracy of your
application.
For your convenience, if any of the information requested is available through existing documents (with
current Information), please provide a reference in this Form to such documents and a copy of the
documents.
For multiple project's, submit separate pages 3-7 for each project.
• If you have any questions, please call 800-882.9721. (See SRF Contact List).
GENERAL WrnI*MA* nm
A. Name of borrower:
List each project (and its location) for which financing is desired on a separate line in the box below.
PROJECT LOCATION
Special Legislative Districts
Improvement. -----State-----
SRF City, Town District' Congressional Senate Assembly
Project # or Village County (if applicable)
B. fiem s of Financing
This ii ppiicatioh is for (check one):
Short Term Financing Q
Long Term Financing ❑
Both Short & Long Term Financing
List the loan amounts requested for each project, and the date financing is needed in the box below.
::.
SRF LOAN AMOUNTS
--Construction Dates --
.,a,
SRF
Refinancing Date Financing
wt'
„
ProJuct Now Money
Amount total. Start completion, is Needed
$$
$ - is Ji- V 7
50 Wolf Road, Albany, New York 12205-2603
10 printed on recycled paper
Borrower Name -VIW N 0(:eYQq
2. CONTACT LIST
SRF Project No. S&/ /D- (e) Id.
��Z
July 2, 1996 - -
Mailing Address and
Overnight Delivery Address
Telephone/Fax
Name and Title
(if different)
Numbers
,jam ry lU• Co o AAAI
g'3og5" /yJ/� �•�/ ��
Telephone:
Chief ExecutiveJ/v
r/y J/ct`9/
K-/� ) 74-'-- J
Fax:
-A ^/
Telephone: (?6%
Chief Fiscal
`
W/� ) &
Officer
S (/����[0�-
Fax:
(S-16,
Alternate Local
—
(,QJy L L.L g014 0.
Telephone:
Official
fW&VA E
i
Authorized to
!JOE- Pu 4- / SUPER r/a-13i�2/L
Fax:
Sign Documents6�
/
^ovJ�i��ct/11c I,
Oz P' T d'F Svz-y-p w40,�'
Telephone:
Daily Contact
SvLy
P b Qv� 9� aMY 1lg3s
L'LrYc NVG c
(S ��) 73
Person
C"
r�vEaN:�4�{v-.' �o�NTY g -o zjS
Fax:
-7 t 1- ?y7�
CU c 146X U_ rV llq
e ep one.
Financial Advisor(
7
)
(optional)
Fax:
zT9U
n/
Telephone:
Local Couns I
�, .t
%di+ nJ ►��
,50Z, NvcD, �'/'/ i/�yJ
(5/�)
Fax:
(6,16) 7vlS'- l8�
'7 AM �)
Telephone:
Bond Cow sel
IOL (IA0OD
Y s
1�
(�Qoj -71
Fax:
/
>
ovL�kb %,/�6t7szteGC-'�
Telephone:
Cohsult" g
Engine" r
ysnlc �r� /� L
Ltic�!) Ufa{ Y, W Y
)
Fax:
Telephone:
Oth r
( )
Consu ants
Fax:
��Z
July 2, 1996 - -
Borrower Name )` 'v �llVt Jh1�l� SRF Project No. 0, o l o
3. SOURCES AND PROJECT BUDGET:
If applying for more than one project, complete separate pages 3-7 for each project.
PROJECT NAME AND DESCRIPTION: (; Poe_' V I, JPJVPf`.i2,I
C19V Pny GL05Utzr
A. Sources
LONG-TERM FINANCING PLAN (To be completed for all applications)
1. Municipal Contributio $
Specify Sources:
2. . Other Funding Sources
a. Rural Developm
Grant
Loan
b. Housing and Urban Development
Grant
—1_!::T7-& E V
c. NYS De
Grant
Loan
d. Other
Sources
3. tong -Term SRF Loan
4. Total Project Costs (Should equal sum of 1, 2 & 3 above)
1
Note: If applicant Is seeking short-term SRF financing, please also complete 5 and 6 below.
SHORT-TERM FINANCING PLAN
5. Requested Amount for Short -Term SRF Financing $� o
6. Do you intend to prefinance any funding sources with an SRF short-term ,�an? If yes, please
specify which sources and the amount to be prefinanced:
Fundinq Amount to be Prefinanced through the SRF
$ AJ
b. $
C . $
TOTAL $ /�•�--"
July 2, 1996 -3-
Borrower Name .3(11 4, .d(lJawwo SRF Project No. <!�) 10, 01,
B. Pt6l6ct Budget .
It' applying for more than one project, complete separate pages 3-7 for each project.
' These costs should Include tall funding needs for eligible SRF project costs Incurred prior to the availability of long-term financing.
' State Bond Issuance Cfiarge applies to the total of Project Costs, Program Administration Costs, and Direct Expenses.
Lha!i",A "olPub Rate
$1,000,000 or less 0.07%
$1,000,601 = $5,000,01)0 0.14%
0,000,001 - s10,000,000 0.21%
$1000,001 - $20,000,000 0.28%
More,thin $20,000,000 0.35%
July 2, 1996, -4-
l
Column A
Column B
Column C
Total Project
Project Costs
Project Costs
Costs
Requested For
Requested. For
(Enter ALL project
SRF Short -Term
SRF Long=Term
Category
-related costs)
Financing'
Financing
i. Construction. Costs Contract No./Title
a.
$(0,004,G'DD
$iii®moo
$ 3�ri moo
b.
c. /
d. I
fi. Engineerind Costs
a. Planning Fees (reimbursement only)
$ Poo '
$
b. Design Fees?0e
, cga
c. Construe#fon Fees
�DD,DGV
��o,vaa
iii.Other Excesses
a. Local Counsel Costs
$ ;%.0,00
$ Z!! 5
$
b. fond Coiirsei Costs,a�0
c. Force Account Costs
•administrative . "
�,(�O
,�g`,p��
�teciinicai
7�Qoo
7 s,
d. Fisdil Se vices Costs
e. Net Interst
f. Miscellaneous Costs (please describe)
iv. Egutprrtehf C66W
$ -7,o0D
$
$
V, Land Acaulsition "
Vi Coiitingancles
$
$
Subtotal tProlect,Costsl
$-
3ca��i�o
vii. Issuance Costs
a. Prod- -M Adminlstrlttion 1.1% of
$ y 3, 3 �'S
$_ s 8J 3 uU
Project Costs
b:. Dlrect:Expent;es 1.5% of Project Costs
$
c. State i3oi>tl issuahce Ci�arge2
$ , .
Total• lt#sitance Ct;ists (sum bf al;ti;
`i TOTAL :'
(Sum of Project Costs and issuance C
�i7Sosts) $.. 9 9®$
3, , 3qs
$ s
' These costs should Include tall funding needs for eligible SRF project costs Incurred prior to the availability of long-term financing.
' State Bond Issuance Cfiarge applies to the total of Project Costs, Program Administration Costs, and Direct Expenses.
Lha!i",A "olPub Rate
$1,000,000 or less 0.07%
$1,000,601 = $5,000,01)0 0.14%
0,000,001 - s10,000,000 0.21%
$1000,001 - $20,000,000 0.28%
More,thin $20,000,000 0.35%
July 2, 1996, -4-
l
Borrower Name- SRF Project No.
If applying; for more than one project; complete separate -pages 3-7 for each project
4. REFINANCING INFORMATION*
A: Project Financing: History� Provide•the.;following: infarrnatiorr for any prior financing, for.which you. are -seeking EFC refiharicing: If. f3ANs have, been
converted to- Bonds andlorcombined': with:other. BANs;, please: list: these, debtissuances;asyseparate items:- See checklist for°,required ,attachments:
If more. space, is needed; please, provide, relevant data on separate sheet:
July-2,1996-
If
uly-2,.1996
Borrower_ Name SRF Project No.
if applying for more than; one project, complete separate pages 3-7 for each project.
B. For each of the BANS andlor,Bonds listed on page 5, list the trustee (for publicly -issued debt) of
holder (for privately -Held debt, eg. a bank note)
Series Name Address & .Phone # Specify Trustee or
Holder
5: INTEFtFUND 96RROWiNGS
Would this loan reiitiburse an interfund borrowin ? Yes El No
. 9
If yes, see the Application Checklist for required attachments.
6.' NON=GOVERNMENTAL USERS
A. ' Are there any current or projected substantial non-governmental users of the system (i.e.,
cansii' it of 5% or mope of the services) with which the system/borrower has a specific
6
contractual agreement as to rates and charges which are not available- to the general public?
Ye`s ❑ No ❑ Does Not Apply
'If-yee, please list below those users and attach special rate schedules and any service
agreements.
July 2; 1006 -6-
Borrouver Name
If applying for more than one project, complete separate pages 3-7 for each project.
SRF Project No.
B. Is the proposed project designed in any way to specifically accommodate the needs of such a user? Yes ❑ No ❑
If yes, please explain.
7. PRIVATE OPERATING AGREEMENTS
Has the Borrower contracted with a private firm for the operation of the facility to be financed?
Yes ❑ No
If yes, please name the firm below, the term (in years) of agreement, and include a copy of this
agreement. with the application submission.
Firm Term
0
July 2, 19$6 -7-
8. INFORMATION ABOUT THE BORROWER'S FINANCIAL BACKGROUND
A: List the ten current largest employers in the borrowers jurisdiction (from largest to smallest based
on the number of employees), their type of business and number of employees. If employment
numbers include part-time and/or seasonal employees, please indicate.
July 2; 1008 -8-
B. Total assessed and full valuation for taxable real property in the borrower's jurisdiction for the
current fiscal yeat and the three most recent years:
G. List the borrower'§ten cu'r`rent largest taxpayers (from highest to lowest, excluding private
homeovuners), their latest assessed valuation and type of business. If any of these taxpayers
receive- a tax exemption, or if their assessment Is currently disputed, please indicate.
Taxpayer __
Assessed Valuation
Type of Business Ezeinptlon &
199-1
199iv
Dispute?
199 199
Full Valuation
3,2'i's 3�')jop
$
3. "1,00 15
3,2oq,7, 6,W4
A2.36, �3 �
Louis Moore Bacon .....:.. P4 b rS Hunting reserve . 235,400
San Simeon by Souvd°� s � Home 231,100
,Ze
Jack Levin .. ..... ........ ... ... .. .. Motel &
Pudge Corporation ........ . ..:.. ....... ...:... Industrial Development. 166,200
HerodotusDarr ianos. . ...... .. . ............... Vineyard 1259600
,
sseased Valuation
�0 d f7 ?-�12
$ �`�, q9'7, 3Xf
89`94, 190
$ ?`j,97 M-0
Equal) atioii RateZ.00
Z.�a
Tax Rate per $1600 of
0
sseased Valuation
I3�. �)
$ I,p,b
$
G. List the borrower'§ten cu'r`rent largest taxpayers (from highest to lowest, excluding private
homeovuners), their latest assessed valuation and type of business. If any of these taxpayers
receive- a tax exemption, or if their assessment Is currently disputed, please indicate.
Taxpayer __
Assessed Valuation
Type of Business Ezeinptlon &
.
Dispute?
. •-------- -- --- - - ----------- Assessed
V lunation.
Long Island LightingCompany' Utility $1,867,206
North Fork Bank ... . ...... .. . ................. Financial -Institution 437,086
New York Tolephone Company ........... . ......... ; . Utility 4201283
Fishers Island Development Corp, ...... , ... , . Residential Development 308,500
.
Alan Cardinale .. ......... ....... ....... Shoppin Center 257,900.
Louis Moore Bacon .....:.. P4 b rS Hunting reserve . 235,400
San Simeon by Souvd°� s � Home 231,100
the .:.......... . , . using
Restaurant' 227,100
Jack Levin .. ..... ........ ... ... .. .. Motel &
Pudge Corporation ........ . ..:.. ....... ...:... Industrial Development. 166,200
HerodotusDarr ianos. . ...... .. . ............... Vineyard 1259600
0
July 2, 1,996. -9-
D. Borrower's total real property tax levies and collections for the current fiscal year and the three
most recent years:
If data above includes collections for jurisdictions other than that of the borrower, please indicate. (For
example, collections for a school district)
)IJCworb41,45' Ib'L tai-- 9"5rug— g 01SYu631 U.Ow l /'W
Wool.— 01bY?4 CT5 .
E. Describe current real property tax levy and collection procedures (i.e., calendar for tax levy, penalty rates, and
enforcement including foreclosure procedures):
July 2, 1996 -10-
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:.:f.•r}:::::..w::}'•}h1?4}:�:.:iC.%•S:+.S}'{.}•}:S.
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:;'::.:•}:... ,. ::•::}:r
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/r:: i•f.^}'�.r•: :n,,,.::::.
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'•:fi'?Sf%:::f.}7:}.?S•.. ?:>fi�:`}'i:�{F::
�: r::;: :: SFFF:+:.. ......{.: r...? .FJq.�:4.....
...+f'. >: 4�i::+:>..: S'•Yii'?SF:. }:T. S Lv Si::
Y` f ,. '2: /
199(0
199,1
1 99 Y
1993
Levy
$
urrent Collections
YI 6K, 77
$ ,6TQ 10h
Total Collection's
$
$
$
$
(Includes prior year's taxes)
If data above includes collections for jurisdictions other than that of the borrower, please indicate. (For
example, collections for a school district)
)IJCworb41,45' Ib'L tai-- 9"5rug— g 01SYu631 U.Ow l /'W
Wool.— 01bY?4 CT5 .
E. Describe current real property tax levy and collection procedures (i.e., calendar for tax levy, penalty rates, and
enforcement including foreclosure procedures):
July 2, 1996 -10-
F. Debt Summary:
a. Average of full valuation of taxable real property for the 5 most
recent years (including current year):
b: Debt limit (7% of five year average full valuation in a. above)
$ 3,316,543 )9z
IS'O, 023.
complete the section below only If the municipality has debt currently outstanding. Provide
information 'elating to all municipal debt, not just this project.
The inforittation entered in the section below should be as of a single point in time.
Statement bf Debt Contracting Power as of fI S7
(Date)
.BORROWER'S INDEBTEDNESS
c., Serial Bonds
d. Bond Anticipatloh Notes
e:,Totai Gross Indebtedness (e = c + d)
C Exclusions (list separately):
Type (Specify Water, Sewer, Other)
Pffkp2i�rnod�
O: Total Exclusions
h. Total Net Indebtedness (h= e - g)
I, Net Debt Contracting Margin (i = b - h)
J. Debt Contracting Power Exhausted
j=(h+b)x100
k. Debt Contracting Power Remaining (k = 100 - j)
:luly 2,1606 -11-
Amount Outstanding
$ (o,R�•!S 000
$ 360ano
$
$ 3b oF9o�o
$ LN -08
G. Outstanding Municipal Debt: Q
1: Boifowe,O§ Outstanding General Obligation and Revenue Bonded Debt as .of 3U I
(Date)
Provide a debt service schedule, including principal retirement, for all outstanding General
Obiigatlon and Revenue Bonded Debt for the current fiscal year and the next 10 fiscal years:
(Do not include Short Terre Obligations)
1
2
3
4
5.
6
. 7
.. .8
s
'10
11
Fiscal
Year
Ending
Principal
Interest
Total Debt Servlce
yM gI0.63
$ ON
P/40
�Q00
boo
7*60. b3
� (d"3
lzo
o
=- g f
.f13.0
-709,M . O
.a
q12.,j—
-200 12,SfJ
3M00
-07
''..,13190000
0e
yS, 00
07AL5
$ (p JW 3.
$ 012�vg JrO'J.?
July 2; 1996 -12-
2 Borrower's Outstanding Short T r�n1Obligations (including Bond, Tax, and Revenue
Ahticipsttoh Notes) as of (I -
(Date)
Amount
Purpose Maturity Date Outstanding
Mmuri PU&RO=ArnQU
9-18-97 Purchase of Stump Buster. ... .. $ 5 900"'`
9-18-97 Puns and S ecific,Wons - Yard Waste Composting 43;000°'`
9-18-97 Purchase of�Tub Grinder ......................... 109,500"`
9-1.8-97 Reconstruction of Various Town Buildings 50,000"`
.9-18-97 Purchase of Highwa Payloader and Street Sweeper . .............. 105,600""
9-18-97 Improvement o 'H'7' s at Shorecrest ... 2700006
9-18-9.7 Improvements of ghways at Lands End .......... '.. 25'000°`
9-18-97. Purchase of Trommel Screen & Leaf Shredder 300;000"d
5-15-98 Purchase of Landfill Truck Tractor and Payloader� ............... _U21-0001 6
J* Z 1996
-13-
H.' Net Overlapping/Underlying Debt:
}
The.lr formation entered in the section below should be as of a single point i
r
Net wer'lapping Debt as of DOT
(Date)
See. Example on next page
r.
Overlapping/ Column A Column B Column C Column D Column E
Underlying Jud§diction : }
Percent of
Jurisdiction's E.
Full Value {
Total Full Taxable
Value Taxable FuIL.Value- -Real Property Applicable I,
Real Taxable Real Assessment Net
Property Property within _within the Total Net Debt Overlapping/
Assessment of the Borrower's Borrower's Outstanding for Underlying
Jurisdiction Jurisdiction Jurisdiction Jurisdiction Debt
Specify Jurisdictions
%
ourtie§
!j
% f
% '.
OWr1S rs %
%
%
Cities %
% 4
% 7
dlages %
°/
°
'i
%
Fire Districts
% }
chool Districts
4'
..: .t.._
TOTAL �r}.
July 2, . i 096 -14-
Example For Calculating Net, Overlapping/Underlying Debt:
The following hypothetical is offered to demonstrate how to calculate Net Overlapping/Underlying Debt.
The SRF applicant is the.Town of Centertown. The Town has a Total Full Value of $100,000;000 and.les
entirely; in Adams County:
Adams, County has a total Fuli- Value of $750,000,000 and Net Debt of $20,000,000.
The Village of Eastham is wholly within Centertown, with a Total .Full Value of $52,000,000 and Net Debt of
$5011,000
TFie. Village of Westville is partially within Centertown, with a Total Full Value of $80;000,600 ($48,000,000
within Centettdwn) and Net1. bebt of $900,000.
Fire District #1 le wholly within Centertown, with a Total Full Value of $100;000,000 and Net Debt of $60,000
North School Disthd is wholiy.within Centertown, with a Total Full Value of $30,000,000 and Net Debt of
$2,000f100 ,
South School l7isnct is partially within Centertown, with a Total Full Value of $150,000,01)0 ($70,000,000 within
C6nteitoWh) end Net Debt of $6,000,000.
Column A
Column B
Column C
Column D
Column E
Percent at
Total Pull
Jurisdiction's
Net Debt
Applicable
Fuil Value'I�eai Property Asse'§smant within
Vml Real
Full Value
Full Value
Outstanding
Net
Jutisdlctlof, .
- Property � �
Real Property
Real
for
Overlapping!
Aseessrrrent
within
Property
Jurisdiction
Underlying
at Jurisdiction
Centertown
Assessment
Debt
within
„
Centertown
Adams Cbutity ...,,_„
$750;000,000
$100,000,000,
i3.3%
. $20,000,000
$2,666,66'7 .,,
Eastham Village
$52;000,000..,
' . $52,000,000
100%
$600,000
$500,000
iNestriiile Village . .,
n $80,0100,000
$48,000,000
60%
$900,000
$660,000,
Frye D�striC #1
$t�0000�000
$100,000,000
-100%
$50,000
$60,000
North Schoni District
$3t1;0b0,000
$30,000,000
.100%
$2,000,b00
$2,O0 00,„
South' School bistrict;
, $150 OOb OOd
,000
, 46 7%
$6,000,000
$2,900,000
fiotai. � �._
$13,576,667
Fuil Value'I�eai Property Asse'§smant within
Centertown (Coiumn C) is calculated by dividing
Column B b Co�umnicAtinn's
y
.�
Ne , this factor 16'600116d to the Net Debt (Column D) for the jurisdiction.
The Appi cable Net Overlapping%Underlying Debt
Co
( lumnj is caieuleted by, muitiplying Column C by Column D.
July 2, 1996 ' -15-
I. Describe the borrower's current plans for debt issuance for the next three years. (List any authorized debt
which Is not project -related.)
�t%1rIGGtUi rZAL- vNa pIL
J. Please provide list of debt for which payment is pledged from Stat',` . d, .if any.,,,=ruvide debt service
schedule(s) for such debt.
K. Provide statement regarding status of emp ovee per.},�x: Please state unfunded pension liability, if
any.
L Is third any litigation threatened or existing which would affect this project or substantially impair the
borrower's ability to pay debt service on its General Obligation indebtedness?
Yes ❑ No
if yes, please attach a summary of such litigation including its current status.
July 2, 1996
-16-
CERTIFICATION:..- On behalf of the borrower, and in accordance with the
Resolution by <.. attached hereto,
" (governing. body of municipal applicant)
authodAh§ me to do so, I make application for SRF Assistance for the project(s) described in this application. By signing
of this application,,) certify find agree 0i' 'be aI'f of the borrower and its governing body that:all of the information contained
in thisapplication,;
NEW YORK STATE REVOLVING FUND (SRF)
FOR WATER POLLUTION CONTROL
RESOLUTION AUTHORIZING SRF APPLICATION
AND PROJECT FINANCING AND LOAN AGREEMENT
Resolution authorizing the execution and filing of an application and execution and delivery of a Project
Financing and Loan Agreement and other documents necessary for SRF assistance.
WHEREAS, the Town of Southold
(Legal Name of Borrower)
herein called the "Borrower', after thorough consideration of the various aspects of the problems and study
of available data, has hereby determined that the project generally described as
Cutchoque Landfill Cap and Closure
(Description of Project)
and identified as SRF Project Number(s) 5110 , 01 , 0 , herein called the "Project", is desirable and in
the public interest, and to that end it is necessary that action preliminary to the construction of said Project
be taken immediately; and
WHEREAS, the Unites States, pursuant to the Federal Water Quality Act of 1987 (as such may be amended
from time to time, the "Water Quality Act"), requires each State to establish a water pollution control revolving
fund to be administered by an instrumentality of the state before the state may receive capitalization grants
under the Water Quality Act; and
WHEREAS, the State of New York has, pursuant to the State Water Pollution Control Revolving Fund Act,
Chapter 565 of the Laws of New York 1989, as amended (the "SRF Act") established in the custody of the
New York State Environmental Facilities Corporation (the "Corporation") a water pollution control revolving fund
(the "Fund") to be used for purposes of the Water Quality Act; and
WHEREAS, the Corporation has been created, reconstituted and continued pursuant to the New York State
Environmental Facilities Corporation Act, as amended, (the "Act') being Chapter 744 of the Laws of 1970, as
amended, and constituting Title 12 of Article 5 of the Public Authorities Law and Chapter 43-A of the
Consolidated Laws of the State of New York, and constitutes a public benefit corporation under the laws of
the State of New York, being a body corporate and politic with full and lawful power and authority to provide
financial assistance from the Fund; and
WHEREAS, the Corporation has the responsibility to administer the Fund and to provide financial assistance
from the Fund to municipalities for eligible projects, as provided in the SRF Act; and
WHEREAS, the SRF Act authorizes the establishment of a program for financial assistance for planning,
design and construction of eligible projects;
C_r
NOW, THEREFORE, BE IT RESOLVED BY
the Town Board of the Town of Southold as follows;
(Governing Body of Borrower)
The filing of an application for SRF assistance in the form required by the Corporation in conformity
with the SRF Act is hereby authorized, including all understandings and assurances contained in said
application.
2. The following person, as chief fiscal officer, -is directed and authorized as the official representative
of the Borrower to execute and deliver an application for SRF assistance, to execute and deliver the
Project Financing and Loan Agreement and any other documents necessary to receive financial
assistance from the Fund for the Project, to act in connection with the Project and to provide such
additional information as may be required and to make such agreements on behalf of the Borrower
as may be required:
Jean W. Cochran (print name)
Supervisor, Town of Southold (print title)
The official designated above is authorized to make application for financial assistance under the SRF
Program for either short-term or long-term financing or both.
4. One (1) certified copy of this Resolution shall be prepared and sent to the New York State
Environmental Facilities Corporation, 50 Wolf Road, Albany, New York 12205-2603.
5. This Resolution shall take effect immediately.
2
CERTIFICATE OF RECORDING OFFICER
The attached Resolution is a true and correct copy of Resolution No. 17 authorizing the execution
and filing of an application and the execution and delivery of a Project Financing and Loan Agreement and
other documents necessary for SRF assistance, as regularly adopted at a legally convened meeting of the
Southold Town Board
(Name of Governing Body of the Borrower)
duly held on the 13th day of May , 1997 ; and further that such
Resolution has been fully recorded in the Southold Town Board Minute Book in
(Title of Record Book)
my office. In witness whereof, I have hereunto set my hand at this
14th day of May 1997.
If the Applicant has an Official Seal,
Impress here.
S' ature of Recording Officer
Southold Town Clerk
Title of Recording Officer
NEW YORK STATE REVOLVING FUND (SRF)
FOR WATER POLLUTION CONTROL
RESOLUTION AUTHORIZING SRF APPLICATION
AND PROJECT FINANCING AND LOAN AGREEMENT
Resolution authorizing the execution and filing of an application and execution and delivery of a Project
Financing and Loan Agreement and other documents necessary for SRF assistance.
WHEREAS, the Town of Southold
(Legal Name of Borrower)
herein called the "Borrower', after thorough consideration of the various aspects of the problems and study
of available data, has hereby determined that the project generally described as
Cutchogue Landfill Cap and Closure
(Description of Project)
and identified as SRF Project Number(s) 5110, 01 , 0 , herein called the "Project', is desirable and in
the public interest, and to that end it is necessary that action preliminary to the construction of said Project
be taken immediately; and
WHEREAS, the Unites States, pursuant to the Federal Water Quality Act of 1987 (as such may be amended
from time to time, the "Water Quality Act"), requires each State to establish a water pollution control revolving
fund to be administered by an instrumentality of the state before the state may receive capitalization grants
under the Water Quality Act; and
WHEREAS, the State of New York has, pursuant to the State Water Pollution Control Revolving Fund Act,
Chapter 565 of the Laws of New York 1989, as amended (the "SRF Act") established in the custody of the
New York State Environmental Facilities Corporation (the "Corporation") a water pollution control revolving fund
(the "Fund") to be used for purposes of the Water Quality Act; and
WHEREAS, the Corporation has been created, reconstituted and continued pursuant to the New York State
Environmental Facilities Corporation Act, as amended, (the "Act") being Chapter 744 of the Laws of 1970, as
amended, and constituting Title 12 of Article 5 of the Public Authorities Law and Chapter 43-A of the
Consolidated Laws of the State of New York, and constitutes a public benefit corporation under the laws of
the State of New York, being a body corporate and politic with full and lawful power and authority to provide
financial assistance from the Fund; and
WHEREAS, the. Corporation has the responsibility to administer the Fund and to provide financial assistance
from the Fund to municipalities for eligible projects, as provided in the SRF Act; and
WHEREAS, the SRF Act authorizes the establishment of a program for financial assistance .for planning,
design and construction of eligible projects;
- _r h
NOW, THEREFORE, BE IT RESOLVED BY
the Town Board of the Town of Southold as follows;
(Governing Body of Borrower)
1. The filing of an application for SRF assistance in the form required by the Corporation in conformity
with the SRF Act is hereby authorized, including all understandings and assurances contained in said
application.
2. The following person, as chief fiscal officer, is directed and authorized as the official representative
of the Borrower to execute and deliver an application for SRF assistance, to execute and deliver the
Project Financing and Loan Agreement and any other documents necessary to receive financial
assistance from the Fund for the Project, to act in connection with the Project and to provide such
additional information as may be required and to make such agreements on behalf of the Borrower
as may be required:
Jean W. Cochran (print name)
Supervisor, Town of Southold (print title)
3. The official designated above is authorized to make application for financial assistance under the SRF
Program for either short-term or long-term financing or both.
4. One (1) certified copy of this Resolution shall be prepared and sent to the New York State
Environmental Facilities Corporation, 50 Wolf Road, Albany, New York 12205-2603.
5. This Resolution shall take effect immediately.
I
N
CERTIFICATE OF RECORDING OFFICER
The attached Resolution is a true and correct copy of Resolution No. 17 authorizing the execution
and filing of an application and the execution and delivery of a Project Financing and Loan Agreement and
other documents necessary for SRF assistance, as regularly adopted at a legally convened meeting of the
Southold Town Board
(Name of Governing Body of the Borrower)
duly held on the 13th day of May , 1997 ; and further that such
Resolution has been fully recorded in the Southold Town Board Minute Book
(Title of Record Book)
my office. In witness whereof, I have hereunto set my hand at this
14th day of May , 1997.
If the Applicant has an Official Seal,
Impress here.
Sig ure of Recording Officer
Southold Town Clerk
Title of Recording Officer
3
in
� I}
f
I, Borrower Name
.SRF Project No. Date Prepared
APPLICATION CHECKLIST
New York State Water Pollution Control Revolving Fund
This document lists all of the items which form a complete State Revolving Fund loan application. A description of these items can
be found in the Summary of Application Components.
You should review the Checklist with EFC at the beginning of the application process since all items may not apply to your project.
This Checklist should be used to verify that your application package is complete. The completed Checklist must be submitted to EFC
as part of the application package.
The items in Part I must be submitted for a complete application. If these items have already been submitted, please indicate.
Submitted
Submitted with
No.
Item
Earlier
this Application
1
Application Formt
❑
❑ ;
2
Resolution Authorizing Signing of Applicationt
❑
❑
3
Municipal Bond Resolution(s) and
❑
❑
Proof of Publication of Estoppel Notice
Technical Planning Report(s) - Specify:
4
❑
❑
5
❑
❑
6
❑
❑
7
Regulatory Agency's Approval of Technical Planning Report
❑
❑
8
Environmental Review Documents
and Findings*
❑
❑
9
Minority and Women's Business Enterprise - Equal
Employment Opportunity Program Documents*
❑
❑
Financial Information
10
• Annual Financial Reports to the Office of the State Comptroller
for the three most recent fiscal years
❑
❑
11
• Borrower's current adopted capital and operating budgets
❑
❑
t Form included in Application Package.
* Guidance included in Application Package.
July 2, 1996
-1-
(continued on next page)
0
° PART II
The type of financing requested and the nature of the borrower's project will determine if the following items are required for a
complete application. Please call EFC to discuss whether the following items apply. Check the appropriate box below.
Submitted Submitted with Not
No. Item Earlier this Application Applicable
12 Office of the State Comptroller Special
Improvement District
Formation Approval**
13 Force Account Proposal(s)**
Agreements for Other Professional Services
14 • Engineering
15 • Local Counsel
16 • Financial
17. ® Bond Counsel
18 • Other (Specify)
19 Plans and Specifications
20 Technical Design Certification Formt
Permits - Specify:
21
22
23
24 Regulatory Agency's Approval Letter of Plans and
Specifications
Other Regulatory Approvals - Specify:
25
26
27
28
29 Performance Bond Informationt
30 Agreement for Construction -Related Engineering
Services
31 Certification of Title to Project Sitest
32 Lease Agreements
33 Executed Construction Contracts
t Form included in Application Package.
** Guidance is available from EFC.
July 2, 1996
❑ ❑ ❑
❑ ❑ ❑
❑ ❑ ❑
❑ ❑ ❑
❑ ❑ ❑
❑ ❑ ❑
❑ ❑ ❑
❑ ❑ ❑
❑ ❑ ❑
❑ ❑ ❑
❑ ❑ ❑
❑ ❑ ❑
❑ ❑ ❑
❑ ❑ ❑
❑ ❑ ❑
❑ ❑ ❑
❑ ❑ ❑
❑ ❑ ❑
❑ ❑ ❑
❑ ❑ ❑
❑ ❑ ❑
❑ ❑ ❑
-2-
(continued on next page)
Item
34 Notice to Proceed
Municipal Service Agreements
35 • Intermunicipal Agreements
36 • Private Operating Agreements
37 • Private Use Agreements
38 Certification by loan applicant's consulting
engineer that project was constructed in accordance
with approved plans and specifications.t
39 Prefinancing/Co-Funding Documentation
Other Financial Information
40 • Borrower's Official Statement or other offering
document for most recent debt issuance
41 • Borrower's audited financial reports for the
three most recent fiscal years
42 • Application to Office of the State Comptroller
for Special Improvement District formation,
if submitted within the last two years
43 • Financial Reports for System for the three most
recent fiscal years (if available)
For refinancing of existing debt, please attach the
following supporting documents:
44 • Original Municipal resolution authorizing debt
45 • Certificate of Determination or Terms Certificate
46 • Opinion of bond counsel
47 • Official Statement
48 • Refunding Resolution
49 • Cost Documentation (Refinancing)
50 • Statement specifying net interest earned or
anticipated during construction (if applicable)
For Reimbursement of Interfund Borrowings:
51 • Municipal authorizing resolution
52 • Cost Documentation (Interfund Borrowings)
t Form included in Application Package.
July 2, 1996
Submitted Submitted with Not
Earlier this Application Applicable
❑ ❑ ❑
❑ ❑ ❑
❑ ❑ ❑
❑ ❑ ❑
❑ ❑
❑
❑ ❑
❑
❑ ❑
❑
❑ ❑
❑
❑ ❑
❑
❑ ❑
❑
❑ ❑
❑
❑ ❑
❑
❑ ❑
❑
❑ ❑
❑
❑ ❑
❑
❑ ❑
❑
❑ ❑
❑
-3-
Borrower Name SRF Project No. Date Prepared
APPLICATION CHECKLIST
New York State Water Pollution Control Revolving Fund
This document lists all of the items 'Which form a complete State Revolving Fund loan application. A description of these items can
be found in the Summary of Application Components.
You should review the Checklist with EFC at the beginning of the application process since all items may not apply to your project.
This Checklist should be used to verify that your application package is complete. The completed Checklist must be submitted to EFC
as part of the application package.
PART I
The items in Part I must be submitted for a complete application. If these items have already been' submitted, please indicate.
t Form included in Application Package.
* Guidance included in Application Package.
July 2, 1996
-1-
(continued on next page)
i
Submitted
Submitted with
No.
Item
Earlier
this Application
1
Application Formt
❑
lJ',
2
Resolution Authorizing Signing of Applicationt
❑
f�
3
Municipal Bond Resolution(s) and
❑
❑
Proof of Publication of Estoppel Notice
Technical Planning Report(s) - Specify:
4
G/ti/
❑
❑
5
vp
❑
❑
6
❑
❑
7
Regulatory Agency's Approval of Technical Planning Report
❑
❑
8
Environmental Review Documents,
and Findings*
❑
❑ . .
91
Minority and Women's Business Enterprise - Equal
Employ mentsOpportuhhy Program Documents*
❑
❑ .�
Financial Information
10
• Annual Financial Reports to the Office of the State Comptroller
for the three most recent fiscal years
❑
❑
11
a Borrower's current adopted capital and operating budgets
❑
❑ A �
t Form included in Application Package.
* Guidance included in Application Package.
July 2, 1996
-1-
(continued on next page)
i
rl
//Fr'ART II
The type of financing requested and the nature of the borrower's project will determine if the following items are required for a
complete application. Please call EFC to discuss whether the following items apply. Check the appropriate box below.
Submitted Submitted with Not
No. Item Earlier this Application Applicable
Office of the State Comptroller Special
Improvement District
Formation Approval" ❑ ❑ ❑
Force Account Proposal(s)" ❑ ❑ ❑
Agreements for Other Professional Services
• Engineering ;
❑
❑
❑
Local Counsel
❑
❑
❑
Financial
❑
❑
❑
• Bond Counsel
❑
❑
❑
• Other (Specify)
❑
❑
❑
Plans and Specifications
❑
❑
❑
Technical Design Certification Formt
❑
❑
❑
Permits - Specify:
" ❑
❑
❑
Regulatory Agency's Approval Letter of Plans and
Specifications
❑
❑
❑
Other Regulatory Approvals - Specify:
❑
❑
❑
❑
❑
❑
❑
❑
❑
❑
❑
a
Performance Bond Informationt
❑
❑
❑ --f
Agreement for Construction -Related Engineering
Services
❑
❑
❑
Certification of Title to Project Sitest
❑
❑
3
Lease Agreements
❑
❑
❑
Executed Construction Contracts
❑
❑
❑
It Form included ih Application Package.
** Guidance is available from EFC.
July 2, 1996
-2-
(continued on next page)
t Form included in Application Package.
July 2, 1996
-3-
Submitted
Submitted. with
Not
Item
Earlier
this Application
Applicable
34
Notice to Proceed
0
–.0
Municipal Service Agreements
35
Intermunicipal Agreements
❑
❑
❑
36
a Private Operating Agreements
❑
❑
❑
37
• Private Use Agreements
❑
❑
❑
38
Certification by loan applicant's consulting
engineer that project was constructed in accordance
with approved plans and specifications.t
❑
❑
39
Prefinancing/Co-Funding Documentation
❑
❑
❑
Other Financial Information
40
Borrower''§ Official Statement or other offering
document for most recent debt issuance
O
❑
❑
41
Borrowe'r's audited financial reports for the
three most recent fiscal 'years
❑
❑
❑
42
• Application to Office of the State Comptroller
for Special Improvement District formation,
if submitted within the last two years
❑
❑
❑
43
• Financial Reports for System for the three most
recent fiscal years (if available)
❑
❑
❑
For refinancing of existing debt, please attach the
following supporting documents:
44
• Origirial-Municipal resolution authorizing debt
❑
❑
❑
45
0 Certificate of Determination or Terms Certificate
❑
❑
❑
46
io Opinion -of bond counsel
❑
❑
❑
47
6 Official Statement
❑
❑
❑
48
• Refunding Resolution
❑
❑
❑
49
io Cost Documentation (Refinancing)
❑
❑
❑
50
Statement specifying net interest earned or
anticipated during construction (if applicable)
❑
❑
❑
For Reimbursement of Interfund Borrowings:
51
• Municipal'authbrizing resolution
❑
❑
❑
52
• Cost Documentation (Interfund Borrowings)
❑
❑
❑
t Form included in Application Package.
July 2, 1996
-3-
_ Attachment #7
NYSDEC-DIVISION OF SOLID &HAZARDOUS MATERIALS ;•
LANDFILL CLOSURE STATE ASSISTANCE AND LOAN PROGRAM
UNFUNDED APPLICANTS
,Projects within the Adirondack Park
Lake George Landfill
Hague Landfill (Phase 1)
Thurman Landfill
Bolton Landfill
Horicon Landfill
Lake Luzerne Landfill
Chester Landfill
Stoney Creek Landfill
Johnsburg. Landfill
Webb Landfill
Westport Landfill
Newcomb Landfill
Keene Landfill
Day Landfill
Edinburg Landfill
Willsboro Landfill
Wilmington Landfill
Crown Point Landfill
Lewis Landfill
North Hudson Landfill
Putnam Landfill
1 Essex Landfill
2 Saranac Lake Landfill
3 Caroga Landfill
4 Schroon Landfill
5 Harrietstown Landfill
6 Long Lake Landfill
7 Hope Landfill
8 Indian Lake Landfill
9 Lake Pleasant Landfill
10 Ausable Landfill
11 Fort Ann Landfill
12 Inlet Landfill
13 Hague Landfill (Phase 2)
14 Altamont Landfill
11/16/90
ESTIMATED
UUMULAAIVE
CUMULATIVE
STATE
LOAN
UNFUNDED
ESTIMATED
DATE CENSUS ASSISTANCE
AMOUNT
STATE
LOAN
FACILITY RECEIVED 90 COUNTY (UNFUNDED)
(DOLLARS)
ASSISTANCE
-AMOUNT
col t co12 col 3 col 4 col 5
col li .
col 7
col8
,Projects within the Adirondack Park
Lake George Landfill
Hague Landfill (Phase 1)
Thurman Landfill
Bolton Landfill
Horicon Landfill
Lake Luzerne Landfill
Chester Landfill
Stoney Creek Landfill
Johnsburg. Landfill
Webb Landfill
Westport Landfill
Newcomb Landfill
Keene Landfill
Day Landfill
Edinburg Landfill
Willsboro Landfill
Wilmington Landfill
Crown Point Landfill
Lewis Landfill
North Hudson Landfill
Putnam Landfill
1 Essex Landfill
2 Saranac Lake Landfill
3 Caroga Landfill
4 Schroon Landfill
5 Harrietstown Landfill
6 Long Lake Landfill
7 Hope Landfill
8 Indian Lake Landfill
9 Lake Pleasant Landfill
10 Ausable Landfill
11 Fort Ann Landfill
12 Inlet Landfill
13 Hague Landfill (Phase 2)
14 Altamont Landfill
11/16/90
3211
Warren
0.00
215,834.00
0.00
215i834.00
11/16/90
699
Warren
0.00
111,410.00
0.00
327,244.00
11/16/90
1045
Warren
0.00
137,987.00
0.00
465,231.00
11/16/90
11,855
Warren
0.00
212,862.00
0.00
678,093.00
11/16/90
1269
Warren
0.00
150,302.00
0.00
828,395.00
11/16/90
2816
_Warren
0.00
164,532.00
0.00
992,927.00
11/16/90
3465
Warren
0.00
513,017.00
0.00
1,505,944.00
11/16/90
670
Warren
0.00
101,711.00
0.00
1,607,655.00
12/24/90
2352
Warren
0.00
175,319.00
0.00
1,782,974.00
12/24/90
1637
Herkimer
0.00
2,164.27
0.00
1,785,138.27
12/24/90
1985
Essex.
0.00
69,085.00
0.00
1,854,223.27
12/28/90
544
: Essex
0.00
50,000.00
0.00
1,904,223.27
12/31/90
908
Essex
0.00
180,000.00
0.00
2,084,223.27
12/31/90
746
Saratoga
0.00
57,350.00
0.00
2,141,573.27
12/31/90
1041
Saratoga
0.00
183,400.00
0.00
2,324,973.27
12/31/90
1736
Essex
0.00
116,930.00
0,00
2,441,903.27
12/31/90
1020
Essex.
0.00
165,000.00
0.00
2,606,903.27
03/12/91
1963
Essex
0.00
95,000.00
0.00
2,701,903.27
03/26/91
1057
Essex.
0.00
99,154.00
0.00
2,801,057.27
03/29/91
266
Essex:
0.00
50,958.08
0.00
2,852,015.35
03/29/91
477
Washington
0.00
44,372.00
0.00
' , ,.•2,896,387.35
03/17/94-
643
Essex,
583,857.00
64,981.00
583,857.00
2,961,368.35
05/06/94
5377
Essex,
1,067,000.00
0.00
1,650,857.00
2,961,368.35
08/12/94
1336
Fulton,
996,300.00
110,700.00
2,647,157.00
3,072,068.35
09/02/94
1721
Esser
1,565,550.00
173,950.00
4,212,707.00
3,246,018.35
01/04/95
5000
Franklin
249,000.00
0.00
4,461,707.00
3,246,018.35
06/26/95
990.
Hamilton
'760,906.00
84,545.00
5,222,613.00
3,330,563.35
06/30/95
358
Hamilton
516,488.00
57,388.00
5,739,101.00
3,387,951.35
06/30/95
1481
Hamilton
774,540.00
86,060.00
6,513,641.00
3,474,011.35
06/30/95
1287
Hamilton
1,076,076.00.
119,564.00
7,589,717.00
3,593,575.35
07/24/95
85969
Clinton
655,087.00
0.00
8,244,804.00
3,593,575.35
10/26/95
59330
Washington
572,500.00
0.00
8,817,304.00
3,593,575.35
11/29/95
343
Hamilton
.475,494.00
53,339.00
9,292,798.00
3,646,914.35
03/27/96
699
Warren
.997,305.00
223,063.00
10,290,103.00
3,869,977.35
06/27/96
6199
Franklin
542,500.00
0.00
10,832,603.00
3,869,977.35 '
NOTE: All facilities with a dollar amount only in the Estimated Loan Amount column are existing funded grant applicants who will
receive a loan only. All facilities with an amount in the State Assistance column are unfunded applicants.
l
09/24/97 1 of 3
AskNYSDEC-DIVISION OF SOLID & HAZARDOUS MATERIALS
LANDFILL CLOSURE STATE ASSISTANCE AND LOAN PROGRAM
Imam UNFUNDED APPLICANTS
•t
Projects within the Adirondack Park
15 Brighton Landfill
16 Minerva Landfill
17 Franklin Sanitary Landfill
18 Owl's Head Landfill
Projects not within the Adirondack Park
Cato Landfill (Phase 1)
Conesville Landfill
Hunter Landfill (Phase 1)
Sterling Landfill
Mentz Landfill
Franklin Landfill
Genoa Landfill
Scipio Landfill
Ellisburg Landfill (Phase 1)
Providence Landfill
Milan Landfill
Shelter Island Landfill
Pine Plains Landfill [2nd submission]
Hoosick Falls Landfill (Phase 1)
Berne Landfill
Hadley Landfill
19 Troy Landfill
20 Hunter Landfill (Phase 2)
21 Sand Lake Landfill
22 Washington Landfill
23 Patterson Landfill
24 Northumberland Landfill (Phase 2)
25 Esopus Landfill
26 Corinth Landfill
27 Saugerties Landfill
28 Mt. Kisco Landfill
29 Plattekill Landfill
31 Niskayuna Landfill (Phase 2)
03/28/97
ESTIMATEDCUMULAXIVE
CUMULATIVE
STATE
LOAN
UNFUNDED
ESTIMATED
DATE CENSUS ASSISTANCE
AMOUNT
STATE
LOAN
FACILITY RECEIVED 90 COUNTY (UNFUNDED)
(DOLLARS)
ASSISTANCE
AMOUNT
col t col t col 3 col 4 col 5
colli
col 7
col 8
Projects within the Adirondack Park
15 Brighton Landfill
16 Minerva Landfill
17 Franklin Sanitary Landfill
18 Owl's Head Landfill
Projects not within the Adirondack Park
Cato Landfill (Phase 1)
Conesville Landfill
Hunter Landfill (Phase 1)
Sterling Landfill
Mentz Landfill
Franklin Landfill
Genoa Landfill
Scipio Landfill
Ellisburg Landfill (Phase 1)
Providence Landfill
Milan Landfill
Shelter Island Landfill
Pine Plains Landfill [2nd submission]
Hoosick Falls Landfill (Phase 1)
Berne Landfill
Hadley Landfill
19 Troy Landfill
20 Hunter Landfill (Phase 2)
21 Sand Lake Landfill
22 Washington Landfill
23 Patterson Landfill
24 Northumberland Landfill (Phase 2)
25 Esopus Landfill
26 Corinth Landfill
27 Saugerties Landfill
28 Mt. Kisco Landfill
29 Plattekill Landfill
31 Niskayuna Landfill (Phase 2)
03/28/97
1511
Franklin
466,422.00
51,825.00
11,299,025.00
3,921,802.35
08/15/97
758
Essex
52,020.00
5,780.00
11,351,045.00
3,927,582.35
09/09/97
1013
Franklin
482,670.00
53,630.00
11,833,715.00
3,981,212.35
09/24/97
1246
Franklin
286,765.00
31,863.00
12,120,480.00.
4,013,075.35
11/26/90
2452
Cayuga
0.00
79,933.00
12,120,480.00
4,093,008.35
12/13/90
684
Schoharie
0.00
1,845.70
12,120,480.00
4,094,854.05
12/21/90
2116
Greene
0.00
218,000.00
12,120,480.00
4,312,854.05
12/24/90
3285
Cayuga
0.00
95,610.00
12,120,480.00
4,408,464.05
12/24/90
2453
Cayuga
0.00
104,701.00
12,120,480.00
4,513,165.05
12/31/90
2471
Delaware
0.00
27,042.00
12,120,480.00
4,540,207.05
12/31/90
1.868
Cayuga
0.00
69,500.00
12,120,480.00
4,609,707.05
12/31/90
1517
Cayuga
0.00
52,060.00
12,120,480.00
4,661,767.05
12/31/90
3386
Jefferson
0.00
569,136.00
12,120,480.00
5,230,903.05
02/27/91
1360
Saratoga
0.00
66,680.00
12,120,480.00
5,297,583.05
03/25/91 "
1895
Dutchess
0.00
111,177.00
12,120,480.00
5,408,760.05
07/01/91
2263
Suffolk
0.00
181,815.00
12,120,480.00
5,590,575.05
09/30/91
2287
Dutchess
0.00
90,003.00
12,120,480.00
5,680,578.05
12/27/91
3490
Rensselaer
0.00
167,048.55
12,120,480.00
5,847,626.60
06/29/92
3050
Albany
0.00
48,206.33
12,120,480.00
5,895,832.93
06/30/92
1628
Saratoga
0.00
157,928.00
12,120,480.00
6,053,760.93
12/10/93
53000
Rensselaer
2,000,000.00
0.00
14,120,480.00
6,053,760.93
01/26/94
2252
Greene
527,150.00
0.00
14,647,630.00.
6,053,760.93
02/28/94
7642
Rensselaer
864,750.00
0.00
15,512,380.00
6,053,760.93
03/02/94
4600
Dutchess
1,517,500.00
0.00
17,029,880.00
6,053,760.93
03/23/94
8679
Putnam
1,331,151.00
0.00
18,361,031.00
6,053,760.93
03/28/94
3630
Saratoga
67,772.00
0.00
18,428,803.00
6,053,760.93
03/30/94
8806
Ulster
1,020,950.00
0.00
19,449,753.00
6,053,760.93
03/31/94
6000
Saratoga
812,000.00
0.00
20,261,753.00
6,053,760.93
05/16/94
18467
Ulster
855,350.00
0.00
21,117,103.00
6,053,760.93 .9
05/27/94
9108
Westchester
691,000.00
0.00
21,808,103.00
6,053,760.93 —
3� "/S'/
06/29/94
8900
Ulster
591,464.00
0.00
22,399,567.00
6,053,760.93
08/29/94
69277
Sullivan
2,000000 00
0.00
24 39245 nn
60 a 053 3_ ,/Y! a
09/12/94
190 O---S-c-henec a
68,224.00
0.00
25,567,791.00
6,053,760.93
NOTE: All facilities with a dollar amount only in the Estimated Loan Amount column are existing funded grant applicants who will
receive a loan only. All facilities with an amount in the State Assistance column are unfunded applicants.
09/24/97 2 of 3
_ NYSDEC-DIVISION OF SOLID & HAZARDOUS MATERIALS
•' LANDFILL CLOSURE STATE ASSISTANCE AND LOAN PROGRAM
UNFUNDED APPLICANTS
Projects not within the Adirondack Park
ESTIMATED
uumuLAXIVE.CUMULATIVE
STATE
LOAN
UNFUNDED
ESTIMATED
DATE CENSUS ASSISTANCE
AMOUNT
STATE
LOAN
FACILITY RECEIVED 90 COUNTY (UNFUNDED)
(DOLLARS)
ASSISTANCE
'AMOUNT
col i col 2 col 3 col o col 5.
colli
col 7
col 8
Projects not within the Adirondack Park
32 Granville Landfill
09/27/94
5935
Y
Washington"
1,032,500.00
0.00
26,600,291.00
28,600,291.00
6,053,760.93
6,053,760.93
33 Riverhead Landfill
12/28/94
20248
316663
Suffolk
Oneida
2,000,000.00
1,010,624.00
0.00
0.00
29,610,915.00
6,053,760.93
34 Oneida -Herkimer Ash Landfill
03/06/95
08/31/95
19950
Suffolk
1,132,500.00
0.00
30,743,415.00
6,053,760.93
35 Southold Landfill
36 Monticello Landfill
10/04/95
6597
Sullivan
565,000.00
0.00
31,308,415.00
6,053,760.93
37 Easton Landfill
10126/95
59330
Washington
891,485.00
0.00
42,358.00
32,199,900.00
32,581,115.00
6,053,760.93
6,096,118.93
38 Tivoli Landfill
11/07/95
1035
10081
Dutchess
Ulster
381,215.00
408,431.00
0.00
32,989,546.00
6,096,118.93
39 Shawangunk Landfill
12/15/95
12/18/95
26008
Dutchess
275,000.00
0.00
33,264,546.00
6,096,118.93
_ 40 Castlepoint Landfill
41 Philipstown Landfill (Phase 2) .
01/17/96
9242
Putnam
297,500.00
0.00
33,562,046.00
6,096,118.93
6,096,118.93
42 Bethel Landfill
07/03/96
3693
Sullivan
543,750.00
900,000.00
0.00
100,000.00
34,105,796.00
35,005,796.00
6,196,118.93
43 Argyle Landfill
10/15/96
11/18/96
3031
1906
Washigton
Washington
1,949,850.00
216,650.00
36,955,646.00
6,412,768.93
44 Cambridge Landfill
12/30/96
2626
Washington
1,341,000.00
149,000.00
38,296,646.00
6,561,768.93
45 Salem Landfill
46 Eastern Landfill [2nd submission]
02/19/97
144357
Montgomery
2,000,000.00
0.00
0.00
40,296,646.00
41,034,238.00
6,561,768.93
6,561,768.93
47 Madison -County Section II Landfill
05/12/97
69166
Madison
Ulster
737,592.00
2,000,000.00
0:00
43,034,238.00
6,561,768.93
48 Ulster Consolidation Landfill
05/14/97
05/14/97
165304
165304
Ulster
990,500.00
0.00
44,024,738.00
6,561,768.93
• 49 Lloyd Consolidation Landfill
tr Consolidation Landfill
50 New Paltz
05/14/97
165304
Ulster
141,500.00
0.00
44,166,238.00
6,561,768.93
51 Dover Landfill
05/04/97
7700
Dutchess
676,085.00
0.00
0.00-
44,842,323.00
46,842,323.00
6,561,768.93
6,561,768.93
52 Brookhaven Landfill Cell 4
06/12/97
407786
1158
Suffolk
Franklin
2,000,000.00
1,408,934.70
156,548.00
48,251,257.70
6,718,316.93
Bombay Landfill
53 Bombay
06/18/97
06/18/97
6220
Ulster
456,499.00
0.00
48,707,756.70
6,718,316.93
54 a Landfill
06/19/97
2684
Franklin
676,960.20
75,218.00
49,384,716.90
6,793,534.93
55 Moira Landfill
56 Dickinson Landfill
06/19/97
751
Franklin
290,619.90
32,292.00
49,675,336.80
6,825,826.93
57 Ft. Covington Landfill
07/14/97
1676
Franklin
1,647,339.00
183,038.00
0.00
51,322,675.80
53,322,675.80
7,008,864.93
7,008,864.93
58 Haverstraw Landfill
07/24/97
08/22/97
32000
1704
Rockland
Chenango
2,000,000.00
553,680.00
61,520.00
53,876,355.80
7,070,384.93
59 Plymouth Landfill
60 Roslyn/Beacon Hill Landfill
09/11/97
1287348
Nassau
1,635,708.00
0.00
55,512,063.80
7,070,384.93
61 Constable Landfill
09/16/97
1203
Franklin
448,866.00
49,874.00
0.00
55,960,929.80
56,7 55 579.80
7,120,258.93
7 120 258.93
62 Town of Stillwater
09/22/97
7233
Saratoga
9
794,650.00.
,
NOTE: All facilities with a dollar amount only in the Estimated Loan Amount column are existing funded grant applicants who will
receive a loan only. All facilities with an amount in the State Assistance column are unfunded applicants.
09/24/97 3 of 3
9 t
***TOTALS*** No. Of Unfunded Grant Projects: 62 $56,755,579.80 $7,120,258.93
r Application received on 6/30/95 for Lake Pleasant is incomplete and does not show total costs.
Missing documentation has been requested from the municipality.
New York State Environmental Facilities Corporation
(800) 882-9721 Within NY State (518) 457-4100
FAX: (518) 485-8773
TERRY AGRISS
President
May 5, 1997
Mr. Jim Bunchuck -
Solid Waste Coordinator
Town of Southold
P.O. Box 1179
53095 Main Road
Southold, New York 11971-0959
Re: SRF 5110-02
Southold (T)
Cutchogue Landfill
Dear Mr. Bunchuck:
In accordance with our telephone conversation enclosed are several sheets
describing the short-term financing program.
If you have questions call me at (518) 457-8156 or the above toll-free number.
Enclosure
Sincerely,
IL
Joseph R. Tuttle, P.E.
Project Engineer
South/Eastern Projects Section
50 Wolf Road, Albany, New York 12205-2603
«printed on recycled paper
New York State Environmental Facilities Corporation
(800) 882-9721 Within NY State (518) 457-4100
FAX: (518) 485-8773
TERRY AGRISS
President
CLEAN WATER STATE REVOLVING FUND FOR WATER POLLUTION
CONTROL (CWSRF)
SHORT-TERM FINANCING PROGRAM
Purpose
This document is intended to provide municipalities with information and guidance
regarding EFC's Short -Term Financing Program (STFP). It summarizes, in general terms,
policies and requirements governing the STFP. Please note that this document is intended
for guidance purposes only. This guidance is effective for short-term loans closed after
April 1, 1997 and will remain in effect as long as adequate program funds are available.
Description
The STFP provides limited -term, interest-free loans to municipalities to finance costs of
eligible water quality protection projects (such as planning, design, construction and
associated costs). The STFP may also be used to prefinance CWSRF-eligible costs of
projects expected to be partially or fully covered by grants or loans from non-CWSRF
funding sources. The STFP complements the CWSRF Long -Term Financing Program by
providing interim financing for projects that have completed planning, but are not ready for
long-term financing. Please note that CWSRF financing is not available prior to completion
of planning and associated environmental reviews although municipalities can later be
reimbursed for eligible costs incurred during planning. Short-term loans are available for
projects listed in the Multi Year Project Priority List of the annual Intended Use Plan (IUP)
that meet the requirements listed below. The amount reserved for this program is stated in
the IUP. Applications for short-term loans will be reviewed on a first-come, first-served
basis.
Potential Benefits
The STFP: •
Provides interim, interest-free financing during design and construction. Through
the use of the STFP, the borrower can achieve more efficient sizing of long-term
financing. Municipalities borrow only what they need during the term of the short-
term loan, up to a stated maximum amount. As a result:
the risk of overissuance of debt is reduced, and
the need for additional borrowing and its associated costs is reduced.
50 Wolf Road, Albany, New York 12205-2603
0 printed on recycled paper
2
1,
2. Can reduce project financing costs by reducing or eliminating interest costs
associated with interim financing during design and construction.
3. Offers "one-stop shopping" for short-term and long-term CWSRF financing, thus
improving opportunities for communication and coordination between- EFC and a
municipality during the project development and construction phases.
4. May be used to prefinance pending grants and loans from other funding sources.
This allows municipalities to proceed with their projects prior to receiving these
grants and loans. For example, EFC could prefinance grants and loans from the
USDA Rural Development- Program, the Clean Water/Clean Air Bond Act, or the
Landfill Closure State Assistance Program administered by the NYS Department of
Environmental Conservation (NYSDEC).
5. Provides a 1,000 point bonus on the project score once the Public Authorities
Control Board (PACB) approves a short-term loan for that project. This helps
ensure the availability of long-term financing monies from the CWSRF. This bonus
may only be applied to the project's score in future IUPs or IUP amendments.
Requirements
The following basic requirements must be met prior to the receipt of a short-term loan.
(Please refer to the CWSRF application package for a complete list of items needed.)
The project must be an"
eligible project,as defined in the SRF statute
(Environmental Conservation Law §17-1909.1(d)). Please refer to the IUP for a list
of categories of projects which are eligible for SRF financing.
2. The project must be listed in the IUP's Multi Year Project Priority List. It must also
receive a project priority score high enough to place it above the funding line, if any,
on the IUD's Annual Project Priority List for long-term projects in its respective
project category.
3. The project must be designated as ani "environmentally significant project" by the
NYSDEC. In making such, a designation, the NYSDEC will take into account all
relevant factors, including an assessment of public health and safety, .protection of
environmental resources, population affected, attainment of state water quality goals
and standards, and compliance with state and federal law, rules and regulations.
4. Project planning must be complete and the municipality must submit a " technical
planning report acceptable to EFC.
5. The environmental review process for CWSRF projects must be complete.
6. A complete CWSRF application, signed by the authorized municipal representative,
must be submitted to EFC.
3
7. A municipal bond resolution acceptable to 1 EFC must be submitted. This bond
resolution must conform .to the requirements of the Local Finance Law and, among
other things, authorize the undertaking of the project, give a specific description and
:. purpose of..the project, ,and authorize a dollar amount of expenditure sufficient to
-cover the total cost of the project.
8. If applicable, a special improvement district must have been formed..
9. Minority and Women's Business Enterprise - Equal Employment Opportunity
(M/WBE-EEO) Program: Both short-term and long-term CWSRF loans are subject
to M/WBE-EEO .requirements. A municipality applying for CWSRF financing must
implement an M/WBE-EEO program for its project. The potential borrower should
call EFC's toll-free number (800-882-9721) for guidance on preparing an M/WBE-
EEO program prior to applying for a CWSRF loan.
10. Certificate as to Title to Project Site: -Generally, a certificate is required prior to the
closing of a CWSRF loan stating that the municipality has, title or other interests in
the site(s) necessary for its undisturbed use and possession during construction and
for the estimated operational life of the project. Under certain limited circumstances,
however, a CWSRF loan can be closed without such a certificate. For example,
where a short-term loan will be used to finance the ongoing design of a project, the
project site may not yet be identified. In such a case, the short-term loan may be
closed. before the borrower has acquired the necessary property interest(s) in the
project site, and executed the .title certificate. In all cases, however, the title
certificate must be received and approved by EFC before loan proceeds can be
disbursed to pay construction and construction -related engineering costs. The
required form of title certificate, entitled "Certificate as to Title to Project Site," is
included in the CWSRF application package.
Loan Sizing/Structuring
1. A municipality may ' apply for short-term financing, long-term financing, or both.
While short-term loan recipients are not required to utilize long-term CWSRF
financing, a long-term financing plan is required to be submitted with the application
for short-term financing. A short-term borrower must submit updated financial and
project cost information at the time of long-term CWSRF financing.
2. Each short-term borrower will issue a "grid note" to EFC to evidence its obligation to
repay its short-term loan. Also known as a "statutory installment note," a "grid note"
allows the municipality to borrow only what it needs during the term of the short-term
loan, up to a stated maximum principal amount. Debt is incurred by the borrower as
"advances" are made under the "grid note," without the need to close a new loan
each time loan proceeds. are advanced..
4
3. Short -Tenn Loans Which Do Not Include Prefinancing of a Third -Party Funding
Source:
In general, the short-term loan will be sized to cover. the borrower's estimated cash
flow needs during the anticipated period of the short-term loan (see Loan Term,
below).
4. Short -Tenn Loans Which Include Prefrnancing of a Third -Party Funding
Source:
Where third -party. funding sources are involved (such as grants and loans from the
USDA Rural Development program, the Clean Water/Clean Air Bond Act, or the
Landfill Closure State Assistance Program administered by the NYSDEC), EFC may
offer short-term prefinancing of such third -party funding. In general, this type of
short-term loan will be sized based on the borrower's request, not to exceed the total
CWSRF-eligible project cost. EFC may also offer long-term financing for any eligible
costs not covered by other funding sources. The conversion to. long-term financing,
as appropriate, would take place as described in the Loan Term section below. A
municipality is encouraged to contact EFC to discuss the details of its project during
the planning phase if third -party funding is contemplated.
5. Financial Hardship Projects: Municipalities with high cost wastewater treatment
works projects serving residential areas may qualify for long-term reduced interest
rate or interest-free financing through the CWSRF. Please refer to the IUP for a
description of the financial hardship criteria. Short-term financing may be available
in advance of such loans. For projects that qualify for Reduced Interest Rate Loans,
EFC will discuss various financing alternatives with the municipality to determine
which alternative best meets its needs.
6. Short-term loans can be used to refinance notes, the proceeds of which have been
spent on documented CWSRF-eligible costs. Only current refinancings will be
allowed (e.g., notes that are callable or have a maturity date less than three months
from the loan closing). The STFP cannot be used for advanced refundings (those
notes that do not meet the criteria above) or if construction is complete.
Loan Term
Short -Term Loans Which Do Not Include Prefrnancing of a Third -Party Funding
Source:
For a project with total costs of $4 million or less, the term of the short-term loan will
generally be two years. For a project with total costs of more than $4 million, the
term of the short-term loan will generally be one year. Extensions may be granted
on a case-by-case basis to allow participation in a pooled CWSRF financing for a
long-term loan. However, the term of a short-term loan cannot exceed three
years under any circumstances. If a project is completed prior to the short-term
loan maturity date, the loan must be converted to long-term financing at the earliest
opportunity.
5
2. Short -Term Loans Which Include Prefinancing of a Third -Party Funding
Source:
Where EFC is prefinancing third -party funding sources, the short-term loan will be
structured with a term of three years. These loans cannot be extended beyond
three years under any circumstances. Such short-term loans often consist of two
components: a portion which prefinances a third -party grant or loan (called the
"prefinancing" share); and a share which does not involve any third -party funding
(called the "local" share). These two components are treated differently.
Although short-term loans which include prefinancing of third -party funding sources
have a maximum term of three years, the prefinancing share must be repaid, on a
dollar for -dollar basis, within five business days of the borrower's receipt of any
proceeds of the third -party grant or loan prefinanced by the short-term loan.
The length of time that the local share may be financed with a short-term loan
depends on the type of long-term financing for which the borrower is eligible. The
local share of these short-term loans will become due and payable as follows:
A. Long -Term Leveraged Loan Candidates With a Written Commitment From a
Third -Party Funding Source: The local share will be available until the
earlier of (i) three years; or (ii) the closing of the first pooled financing after
the borrower receives all third -party grant and/or loan funds prefinanced by
the short-term loan. If the receipt of all third -party funds, occurs after the
deadline for submitting an application for pooled CWSRF financing, the
short-term loan may remain available until the next pooled financing,
provided the short-term loan does not exceed three years.
B. Long Term Leveraged Loan Candidates That Anticipate Third -Party Funding
for Which a Written Commitment Has Not Been Issued: The local share
and the anticipated prefinancing share will be available until the earlier of
(i) three years; or (ii) the closing of the first pooled financing after project
completion. If project completion occurs after the deadline for submitting an
application for pooled CWSRF financing, the short-term loan may remain
available until the next pooled financing, provided the short-term loan does
not exceed three years.
C. Long -Term Direct Loan Candidates: The local share will be available until
the earlier of (i) three years; or (ii) 120 days after the borrower receives all
third -party grant and/or loan funds prefinanced by the short-term loan.
3. In all cases, a short-term loan will become due and payable, upon 60 days notice, if
the project is abandoned.
R
Fees
.o
1. The 0. 11 % CWSRF annual administration fee does not apply to short-term loans.
2. A 1.1% program administration fee will apply to all short-term loans exce t those
wastewater treatment works projects that qualify for a long-term Reduced Interest
Rate Loan due to financial hardship. To obtain such a waiver, a municipality must
receive a determination of financial hardship prior to the closing of the short-term
loan.
3. The program administration fee will be 1.1% of maximum project costs to be
financed, regardless of the amount actually advanced under the "grid note." No fees
will be refunded.
4. The 1.1% program administration fee paid when a short-term loan closes will be
credited against the 1.1% program administration fee due if the short-term loan is
converted to a long-term CWSRF loan.
For More Information
Please contact the Division of Program Management, NYS Environmental Facilities
Corporation, 50 Wolf Road, Room 502, Albany, NY 12205 2603 or call the EFC toll-free
number at (800) 882-9721 (within New York State only) or (518) 457-3833.
Additional information and assistance on topics discussed within this document listed below
are available upon request..
- Intended Use Plan (IUP) and Project Listing.
Guidance for Eligible/Allowable Costs.
Municipal Bond Resolutions.
Office of the State Comptroller Special Improvement District Formation
Approval.
Environmental Review Guidance.
Minority & Women's Business Enterprise - Equal Employment Opportunity
(M/WBE-EEO) Program Guidance.
Certificate of Title to Project Sites.
Information Needed to Determine Qualification for Reduced Interest Rate
Loans.
March 10; 1997
NEW YORK STATE REVOLVING FUND (SRF)
FOR WATER POLLUTION CONTROL
RESOLUTION AUTHORIZING SRF APPLICATION
AND PROJECT FINANCING AND LOAN AGREEMENT
Resolution authorizing the execution and filing of an application and execution and delivery of a Project
Financing and Loan Agreement and other documents necessary for SRF assistance.
WHEREAS, the Town of Southold
(Legal Name of Borrower)
herein called the "Borrower', after thorough consideration of the various aspects of the problems and study
of available data, has hereby determined that the project generally described as
Cutchogue Landfill Cap and Closure
(Description of Project)
and identified as SRF Project Number(s) 5110, 01 , 0 , herein called the "Project", is desirable and in
the public interest, and to that end it is necessary that action preliminary to the construction of said Project
be taken immediately; and
WHEREAS, the Unites States, pursuant to the Federal Water Quality Act of 1987 (as such may be amended
from time to time, the "Water Quality Act"), requires each State to establish a water pollution control revolving
fund to be administered by an instrumentality of the state before the state may receive capitalization grants
under the Water Quality Act; and
WHEREAS, the State of New York has, pursuant to the State Water Pollution Control Revolving Fund Act,
Chapter 565 of the Laws of New York 1989, as amended (the "SRF Act") established in the custody of the
New York State Environmental Facilities Corporation (the "Corporation") a water pollution control revolving fund
(the "Fund") to be used for purposes of the Water Quality Act; and
WHEREAS, the Corporation has been created, reconstituted and continued pursuant to the New York State
Environmental Facilities Corporation Act, as amended, (the "Act") being Chapter 744 of the Laws of 1970, as
amended; and constituting Title 12 of Article 5 of the Public Authorities Law and Chapter 43-A of the
Consolidated Laws of the State of New York, and constitutes a public benefit corporation under the laws of
the State of New York, being a body corporate and politic with full and lawful power and authority to provide
financial assistance from the Fund; and
WHEREAS, the Corporation has the responsibility to administer the Fund and to provide financial assistance
from the Fund to municipalities for eligible projects, as provided in the SRF Act; and
WHEREAS, the SRF Act authorizes the establishment of a program for financial assistance for planning,
design and construction of eligible projects;
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NOW, THEREFORE, BE IT RESOLVED BY
the Town Board of the Town of Southold as follows;
(Governing Body of Borrower)
1. The filing of an application for SRF assistance in the form required by the Corporation in conformity
with the SRF Act is hereby authorized, including all understandings and assurances contained in said
application.
2. The following person, as chief fiscal officer, is directed and authorized as the official representative
of the Borrower to execute and deliver an application for SRF assistance, to execute and deliver the
Project Financing and Loan Agreement and any other documents necessary to receive financial
assistance from the Fund for the Project, to act in connection with the Project and to provide such
additional information as may be required and to make such agreements on behalf of the Borrower
as may be required:
Jean W. Cochran (print name)
Supervisor, Town of Southold (print title)
3. The official designated above is authorized to make application for financial assistance under the SRF
Program for either short-term or long-term financing or both.
4. One (1) certified copy of this Resolution shall be prepared and sent to the New York State
Environmental Facilities Corporation, So Wolf Road, Albany, New York 12205-2603.
5. This Resolution shall take effect immediately.
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CERTIFICATE OF RECORDING OFFICER
The attached Resolution is a true and correct copy of Resolution No. 17 authorizing the execution
and filing of an application and the execution and delivery of a Project Financing and Loan Agreement and
other documents necessary for SRF assistance, as regularly adopted at a legally convened meeting of the
Southold Town Board
(Name of Governing Body of the Borrower)
duly held on the 13th day of May , 1997 ; and further that such
Resolution has been fully recorded in the Southold Town Board Minute Book
(Title of Record Book)
my office. Iri witness whereof, I have hereunto set my hand at this
14th day of May , 1997.
If the Applicant has an Official Seal,
Impress here.
nature of Recording Officer
Southold Town Clerk
Title of Recording Officer
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