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PAGGI, MARTIN & DEL BENE LLP
Consulting Engineers & Land Surveyors
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54-56 Main Street
Poughkeepsie, New York 12601
914-471-7898
914-471-0905 (FAX)
VIA FAX & MAIL:
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April 5, 1999
Town Board
Town of Wappinger
P.O. Box 324
Wappingers Falls, New York 12590
Attention: Constance O. Smith, Supervisor
Reference: Wappinger Sewer TransmissionlTreatment Improvement Area
Phase 3A-Short Term Financing
Dear Supervisor Smith & Board Members:
As authorized at the March 9th, 1999 Town Board meeting, a kick-off meeting
was held for the Short-Term Financing for Phase 3A of the Wappinger Sewer
TransmissionlTreatment Improvement Area.
In attendance at the meeting were Supervisor Smith; Attorney, AI Roberts; Town
Comptroller, Gerald Terwilliger; Sal Pennini, Public Finance Associates; Peter
Paggi and myself from Paggi, Martin & Del Bene.
The following items were discussed:
There are a number of items necessary for the Short-term application package
that must be submitted to the Environmental Facilities Corp. It is shown on the
enclosed checklist application, page 1. The responsibilities of the individual parts
are as follows:
1. APPLlCA nON FORM: Will be compiled by Pete, Sal & Jerry. The first
four pages of the application will be prepared by Pete and submitted to Sal
and Jerry by April 12th, 1999. Sal & Jerry will meet and do their financial
part of it by April 19th, 1999. There will then be a meeting of the entire
group at Supervisor Smith's office on April 22"d, 1999, at 9:00 a.m. to put
the entire application form together.
2. RESOLUTION FOR AUTHORIZED SIGNING: The application will be
prepared by AI and submitted to Supervisor Smith by April 12th, 1999.
Joseph E. Paggi, Jr., P.E.
Ernst Martin, Jr., P.E., L.S.
Charles R. Del Bene, Jr., P.E.
Constance O. Smith
Town Board
Phase 3A-Financing
- 2 -
April 5, 1999
3. MUNICIPAL BOND RESOLUTION: This will be prepared by Tom Rothman
of Wilkie, Farr and Gallagher. An estoppel notice will be prepared and
advertised by Elaine Snowden, Town Clerk, when appropriate.
4. ENGINEER'S REPORT: This report will be submitted to the appropriate
agencies by Paggi, Martin & Del Bene by April 20th, 1999. The appropriate
agencies are:
. New York State Department of Environmental Conservation
. Dutchess County Department of Health
. Environmental Facilities Corp.
5. REGULATORY AGENCY APPROVALS (No.4 above): This item speaks for
itself.
6. SERP CERTIFICA TION: By copy of this letter, I am notifying Matt Rudikoff
to handle all the SERP work associated with the Town's portion of Phase
3A of the Improvement. I would ask that Mr. Rudikoff do whatever work
is necessary and prepare a status memo dated no later than April 20th,
1999. I would also request that he be at the April 22nd, 1999 meeting at
Supervisor Smith's office at 9:00 a.m.
7. MBE/WBE: The Town's current policy statement will be submitted with
the application package. Paggi, Martin & Del Bene will provide this at the
April 22nd, 1999 meeting.
8. CURRENT FINAINCIAL ITEMS: Jerry will prepare the two necessary items
on April 22nd, 1999.
GENERAL TOPICS OF DISCUSSION:
1. Paggi, Martin & Del Bene will project all short-term costs to April 2000.
This will be the amount of the short-term loan application. This was
discussed and supported by EFC that a more conservative number is
advisable.
2. The item of the existing $480,000.00 outstanding BAN for the study work
was discussed. The preferred option of paying this back would be to use
proceeds from the Short-term financing, however, that must be in place by
July 10th, 1999 when the BAN becomes due. To that end, we should
include this in the application form made to be received short-term
financing.
.
Constance O. Smith
Town Board
Phase 3A-Financing
- 3 -
April 5, 1999
If the short-term monies do not become available by July 10th, 1999, then
the BAN would be rolled-over in a private sector issuance for a period of
sixty (60) days at which time the short-term funds could repay the note.
Sal indicated that he needed approximately one (1) week's time prior to
the due date to initiate this short-term note.
3. There was a discussion regarding all the new monies that would be
necessary between April and August, which is when the short-term monies
will become available. To utilize existing funds in the Town's B-Fund line
item, Jerry Terwilliger must preparereso!utions for the Town Boatd to
transfer these funds from B-Fund to capital. The amount of funds that
should be transferred was discussed. This amount should be
$200,000.00.
4. It was further discussed that Sa!. AI, Matt Rudikoff and myself would send
proposed contracts to Supervisor Smith in anticipation of the application to
EFC for Short-term and Long-term financing.
If there are any questions or comments, regarding the above, please do not
hesitate to contact this office.
Very truly yours,
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JEP:law
Enclosure: Checklist
cc: Hon. Vincent Bettina, Councilman w/enclosure
Hon. Joseph Paoloni, Councilman w/enclosure
Hon. Joseph Ruggiero, Councilman w/enclosure
Hon. Robert Valdati, Councilman w/enclosure
Hon. Elaine Snowden, Town Clerk w/enclosure
Albert P. Roberts, Esq. w/enclosure
Sal Pennini w /enclosure
Gerald Terwilliger w/enclosure
Matthew D. Rudikoff w/enclosure
Peter Paggi w/enclosure
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, Borrower Name
CWSRF Project No.
Date Prepared
..-4
APPLICATION CHECKLIST
New York Clean Water State Revolving Fund
This document lists all of the items which form a complete Clean Water State Revolving Fund loan application. A summary of thes
items can be found in the Descriotion of Aoolication Como~
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 t
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.
No.
4
Item
Submitted
Earlier
Submitted with
this Application
Application Formt
o
o
o
o
o
o
2
Resolution A:Jthorizing Signing of Applicationt
3
Municipal Bond Resolution(s) and proofof
Publication of Estoppel Notice
Engineering Report
o
o
o
o
o
o
o
o
5
Regulatory Agency's Approval of Engineering Report
6
Environmental Review Documents and Findings*
7
Minority and Women's Business Enterprise- Equal
Employment Opportunity Program Documents*
8
Financiallnformation .
· Annual Financial Reports to the Office of the State Comptroller
for. the three most recent fiscal years 0
· Borrower's current adopted capital and operating budgets 0
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9
t Form included in Application Package,
* Guidance incl~ded in Application Package.6127/97
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06/27/9'