City Council Committees

SCHENECTADY CITY COUNCIL COMMITTEE AGENDA for Friday, April 9, 2021 5:30 p.m. Teleconference The Council President reserves the right to add or delete any agenda item prior to Committee Meeting. View on Live on: Spectrum CHANNEL 1303 or on Verizon FiOS CHANNEL 38 You can also view the meeting LIVE at: http://www.openstagemedia.org/ (On the home page, select Government from the play window.) Or on YouTube.com (under Open Stage Media) Webex https://schenectadyny.webex.com/schenectadyny/onstage/g.php?MTID=e4aa7cdc0de249f101b50e05c92103a9c Webex Meeting Phone #: 1-415-655-0001; Meeting #: 185 308 5580; Meeting Password: CityCouncil Finance 1 2021 Capital Projects Bond Ordinance Anthony Ferrari Friday, April 2, 2021  EXTRACT OF MINUTES OF MEETING OF THE CITY COUNCIL OF THE CITY OF SCHENECTADY ADOPTING A BOND ORDINANCE At a meeting of the City Council of the City of Schenectady, New York, duly held in Schenectady, New York on the 12th day of April, 2021. Present: Absent: Also Present: Gary R. McCarthy, Mayor Anthony Ferrari, Commissioner of Finance and Administration Andrew Koldin, Corporation Counsel Samanta Mykoo, City Clerk ________________ presented the Ordinance and it was seconded by _______________: ORDINANCE NO. 2021-___ BOND ORDINANCE, DATED APRIL 12, 2021 AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $7,447,551 AGGREGATE PRINCIPAL AMOUNT OF SERIAL BONDS OF THE CITY OF SCHENECTADY, NEW YORK, PURSUANT TO THE LOCAL FINANCE LAW TO FINANCE A PORTION OF THE 2021 CAPITAL PLAN WHEREAS, the City Council of the City of Schenectady (the “City Council” and the “City”, respectively), hereby determines that it is in the public interest of the City to authorize the financing of the Project as defined in Section 2 hereof by the issuance of bonds and notes in an aggregate amount not to exceed $7,447,551, including $91,945 of costs of issuance (the “Cost of Issuance”); and WHEREAS, the City Council has not taken any action or adopted any local law which would require the effectiveness of this bond ordinance be subjected to a permissive or mandatory referendum; NOW THEREFORE BE IT RESOLVED BY THIS COUNCIL AS FOLLOWS: Section 1. There is hereby authorized to be issued serial bonds of the City, in the State of New York (the “State”), in the aggregate principal amount of $7,447,551, including $91,945 of 20029959.6 Costs of Issuance, pursuant to the Local Finance Law, in order to finance the classes of objects or purposes, or specific objects or purposes, including Costs of Issuance. Section 2. The classes of objects or purposes, or specific objects or purposes (collectively, the “Project”), to be financed pursuant to this bond ordinance, the estimated maximum cost of each object or purpose, the principal amount of serial bonds authorized herein for each object or purpose (including Costs of Issuance allocable on a pro rata basis to each object or purpose of classes of objects or purposes), and the period of probable usefulness of each object or purpose pursuant to the applicable subdivision of paragraph a of Section 11.00 of the Local Finance Law, are as follows: a. Acquisition of machinery and apparatus for construction and maintenance for use by the Bureau of Service (General Fund), the Waste Department (General Fund), and Parks (General Fund), including, but not limited to, (i) two (2) 6-wheel one ton dump trucks, (ii) one (1) service truck with crane, (iii) blacktop rollers, (iv) one (1) street sweeper, (v) one (1) John Deer 524L with snow blower attachment, (vi) one (1) Ford Pick-up Truck with plow and (viii) one (1) truck and lift maintenance vehicle, at an estimated aggregate cost of $1,033,763, for which $1,033,763 principal amount of serial bonds is authorized herein, such class of objects or purposes having a period of probable usefulness of fifteen (15) years pursuant to subdivision 28 of paragraph a of Section 11.00 of the Local Finance Law. Such serial bonds shall have a maximum maturity of not to exceed fifteen (15) years computed from the earlier of (a) the date of the first issue of such serial bonds or (b) the date the first bond anticipation notes issued in anticipation of the issuance of such serial bonds. b. Acquisition and installation of equipment (Smart Cities Initiatives and Infrastructure) (General Fund), including acquisition and installation of fiber optic lines throughout the City and related infrastructure, at an estimated cost of $2,025,000, for which $2,025,000 principal amount of serial bonds is authorized herein such class of objects or purposes having a period of probable usefulness of five (5) years pursuant to subdivision 35 of paragraph a of Section 11.00 of the Local Finance Law. Such serial bonds shall have a maximum maturity not to exceed five (5) years computed from the earlier of (a) the date of the first issue of such serial bonds or (b) the date the first bond anticipation notes issued in anticipation of the issuance of such serial bonds; c. Acquisition of vehicles for use by the Police Department (General Fund), at an estimated maximum cost of $753,300, for which $753,300 principal amount serial bonds is authorized herein, such class of objects or purposes having a period of probable usefulness of three (3) years pursuant to subdivision 77 of paragraph a of Section 11.00 of the Local Finance Law. Such serial bonds shall have a maximum maturity not to exceed three (3) years computed from the earlier of (a) the date of the first issue of such serial bonds or (b) the date the first bond anticipation notes issued in anticipation of the issuance of such serial bonds; 20029959.6  d. Acquisition of equipment for use by the Police Department (General Fund), including tasers, mobile data terminals, replacement computer, servers, body cameras, in-car video, speed signs with camera and speed hump; at an estimated maximum cost of $602,513, for which $602,513 principal amount serial bonds is authorized herein, such class of objects or purposes having a period of probable usefulness of five (5) years pursuant to subdivision 32 of paragraph a of Section 11.00 of the Local Finance Law. Such serial bonds shall have a maximum maturity not to exceed five (5) years computed from the earlier of (a) the date of the first issue of such serial bonds or (b) the date the first bond anticipation notes issued in anticipation of the issuance of such serial bonds; e. Acquisition of a fire suppression equipment for use by the Police Department (General Fund), at an estimated maximum cost of $50,625, for which $50,625 principal amount serial bonds is authorized herein, such class of objects or purposes having a period of probable usefulness of twenty (20) years pursuant to subdivision 56 of paragraph a of Section 11.00 of the Local Finance Law. Such serial bonds shall have a maximum maturity not to exceed ten (10) years computed from the earlier of (a) the date of the first issue of such serial bonds or (b) the date the first bond anticipation notes issued in anticipation of the issuance of such serial bonds. f. Design construction, reconstruction, widening or resurfacing of City streets (General Fund) including, but not limited to: (i) pavement preservation of Broadway, (ii) Brandywine Avenue, (iii) Francis Avenue, (iv) pavement of various City Streets included in the 2021 Paving Program, (v) various downtown street improvements; and (vi) the Rosa/Nott/Wendell Intersection, at an estimated cost of $10,406,076, for which $1,626,126 principal amount of serial bonds is authorized herein, such class of objects or purposes having a period of probable usefulness of fifteen (15) years pursuant to paragraph (c) of subdivision 20 of paragraph a of Section 11.00 of the Local Finance Law. Such serial bonds shall have a maximum maturity of not to exceed fifteen (15) years computed from the earlier of (a) the date of the first issue of such serial bonds or (b) the date the first bond anticipation notes issued in anticipation of the issuance of such serial bonds; g. Renovations of and improvements to various City buildings including, but not limited to renovation and improvement of a courtroom and firing range, at an estimated cost of $1,663,750, for which $1,113,750 principal amount of serial bonds is authorized herein, such class of objects or purposes having a period of probable usefulness of twenty-five (25) years pursuant to subdivision 12 of paragraph a of Section 11.00 of the Local Finance Law. Such serial bonds shall have a maximum maturity of not to exceed twenty-five (25) years computed from the earlier of (a) the date of the first issue of such serial bonds or (b) the date the first bond anticipation notes issued in anticipation of the issuance of such serial bonds. 20029959.6  h. Design, construction and reconstruction of the Kings Road Bridge (General Fund), at an estimated cost of $4,792,596, for which $242,474 principal amount of serial bonds is authorized herein, such class of objects or purposes having a period of probable usefulness of twenty (20) years pursuant to subdivision 10 of paragraph a of Section 11.00 of the Local Finance Law. Such serial bonds shall have a maximum maturity of not to exceed twenty (20) years computed from the earlier of (a) the date of the first issue of such serial bonds or (b) the date the first bond anticipation notes issued in anticipation of the issuance of such serial bonds. Section 3. The City Council has ascertained and hereby states that: (a) the estimated maximum cost of the classes of objects or purposes or specific objects or purposes listed in Section 2 above is $21,327,623; (b) no money has heretofore been authorized to be applied to the payment of the costs of the objects or purposes described in Section 2 hereof; and (c) the City Council plans to finance the costs of such objects or purposes from funds raised by the issuance of obligations authorized herein to permanently finance such objects or purposes and, with respect to the objects or purposes described in paragraphs (f) through (h) of Section 2 hereof, funds received from the United States, the State of New York and the Schenectady County Metroplex Development Authority. Section 4. Subject to the terms and conditions of this bond ordinance and the Local Finance Law, and pursuant to the provisions of Sections 21.00, 30.00, 50.00 and 56.00 to 60.00, inclusive, of the Local Finance Law, the power to authorize bond anticipation notes in anticipation of the issuance of the serial bonds authorized by this bond ordinance and the renewal of such bond anticipation notes and the power to prescribe the terms, form and contents of such serial bonds and such bond anticipation notes, including renewals thereof, and the power to issue, sell and deliver such serial bonds and such bond anticipation notes, including renewals thereof, is hereby delegated to the Commissioner of Finance of the City, as chief fiscal officer of the City. Such power shall include the power to consolidate the obligations authorized herein with other obligations of the City and to authorize the use of substantially level or declining debt service in accordance with the provisions of Section 21 of the Local Finance Law. The Commissioner of Finance is hereby authorized to execute on behalf of the City all serial bonds, issued pursuant to this bond ordinance and all bond anticipation notes, including renewals thereof, issued in anticipation of the issuance of such serial bonds, and the City Clerk is hereby authorized to affix the seal of the City to all such serial bonds and all such bond anticipation notes, including renewals thereof, and to attest such seal. In the absence of the Commissioner of Finance, the Deputy Commissioner of Finance is hereby authorized to exercise the powers delegated to the Commissioner of Finance by this Ordinance. Section 5. This Bond Ordinance shall constitute the declaration of the City’s “official intent” to reimburse expenditures with proceeds of the Bonds and notes, as required by United States Treasury Regulation Section 1.150-2. Except as otherwise permitted by United States Treasury Regulation Section 1.150-2, the City will not use proceeds of the Bonds or notes to reimburse itself for prior expenditures for the Purpose unless: (1) the original expenditure was made not more than 60 days prior to the adoption of this bond ordinance, (2) the reimbursement will be made within three years after the later of the date the original expenditure was paid or the date the Purpose is placed in service or abandoned. 20029959.6  Section 6. The City Clerk of the City shall cause a summary of this bond ordinance to be published together with a notice in substantially the form prescribed by Section 81.00 of the Local Finance Law in The Daily Gazette, a newspaper having a general circulation in the City. The validity of the Bonds authorized by this bond ordinance and of bond anticipation notes issued in anticipation of the sale of such Bonds may be contested only if such obligations are authorized for an object or purpose for which the City is not authorized to expend money, or the provisions of law which should be complied with at the date of the publication of this bond ordinance are not substantially complied with, and an action, suit or proceeding contesting such validity is commenced within twenty (20) days after the date of such publication, or such obligations are authorized in violation of the provisions of the Constitution of the State of New York. Section 7. The faith and credit of the City are hereby and shall be irrevocably pledged for the punctual payment of the principal of and interest on all obligations authorized and issued pursuant to this bond ordinance as the same shall become due. Section 8. The City intends to issue the obligations authorized by this bond ordinance to finance the costs of the purposes described in Section 2 hereof. The City covenants for the benefit of the holders of the obligations authorized herein that it will not make any use of the proceeds of such obligations, any funds reasonably expected to be used to pay the principal of or interest on such obligations, or any other funds of the City, and will not make any use of the facilities financed with the proceeds of such obligations which would cause the interest on such obligations to become subject to federal income taxation under the Internal Revenue Code of 1986, as amended (the “Code”) or subject the City to any penalties under section 148 of the Code, and that it will not take any action or omit to take any action with respect to such obligations, the proceeds thereof or any facilities financed thereby if such action or omission would cause the interest on such obligations to become subject to federal income taxation under the Code (except, to the extent applicable, for the alternative minimum tax imposed on individuals by the Code) or subject the City to any penalties under Section 148 of the Code. The foregoing covenants shall remain in full force and effect notwithstanding the defeasance of such obligations until the date which is 60 days after the final maturity date or earlier prior redemption date thereof. Section 9. For the benefit of the holders and beneficial owners from time to time of the obligations authorized pursuant to this ordinance (the “obligations”), the City agrees, in accordance with and as an obligated person with respect to the obligations, under Rule 15c2-12 promulgated by the Securities Exchange Commission pursuant to the Securities Exchange Act of 1934 (the “Rule”), to provide or cause to be provided such financial information and operating data, financial statements and notices, in such manner, as may be required for purposes of the Rule. Section 10. The City Council hereby determines that the above proposed actions, individually and cumulatively, do not exceed the thresholds established under 6 NYCRR Part 617, of the State Environmental Quality Review Act, (SEQRA); the proposed action is a Type II 20029959.6 action in accordance with the SEQRA regulations and no further review of the proposed actions is required under SEQRA. Section 11. This bond ordinance shall take effect immediately upon its adoption by the City Council of the City. AYES NAYS ABSENT 20029959.6 STATE OF NEW YORK ) ) SS.: COUNTY OF SCHENECTADY ) I, the undersigned Clerk of the City of Schenectady, do hereby certify as follows: 1. A Regular Meeting of the City Council of the City of Schenectady, State of New York, was duly held on April 12, 2021, and Minutes of said meeting have been duly recorded in the Minute Book kept by me in accordance with law for the purpose of recording the Minutes of meetings of said Council. I have compared the attached Extract with said Minutes so recorded and said Extract is a true copy of said Minutes and of the whole thereof insofar as said Minutes relate to matters referred to in said Extract. 2. Said Minutes correctly state the time when said meeting was convened and the place where such meeting was held and the members of said Council who attended said meeting. 3. Public Notice of the time and place of said meeting was duly given to the public and the news media in accordance with the Open Meetings Law, constituting Chapter 511 of the Laws of 1976 of the State of New York, and that the members of said Council had due notice of said meeting and that the meeting was in all respects duly held and a quorum was present and acted throughout. IN WITNESS WHEREOF, I have hereunto set my hand and have hereunto affixed the corporate seal of the City of Schenectady this ____ day of April, 2021. ____________________________________ City Clerk [SEAL] 20029959.6  LEGAL NOTICE The bond ordinance, a summary of which is published herewith, has been adopted on the 12th day of April, 2021, and the validity of the obligations authorized by such ordinance may be hereafter contested only if such obligations were authorized for an object or purpose for which the City of Schenectady is not authorized to expend money or if the provisions of law which should have been complied with as of the date of publication of this notice were not substantially complied with, and an action, suit or proceeding contesting such validity is commenced within twenty (20) days after the date of publication of this notice, or such obligations were authorized in violation of the provisions of the constitution. A complete copy of the bond ordinance summarized herewith is available for public inspection during regular business hours at the Office of the City Clerk of the City of Schenectady for a period of twenty days from the date of publication of this Notice. Samanta Mykoo City Clerk BOND ORDINANCE, DATED APRIL 12, 2021 AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $7,447,551 AGGREGATE PRINCIPAL AMOUNT OF SERIAL BONDS OF THE CITY OF SCHENECTADY, NEW YORK, PURSUANT TO THE LOCAL FINANCE LAW TO FINANCE A PORTION OF THE 2021 CAPITAL PLAN Maximum Period of Cost/Maximum probable Class of objects or purposes (General Fund)/Maximum Cost: Obligations usefulness: a. Acquisition of machinery and apparatus for $1,033,763 15 years construction and maintenance for use by the Bureau of Service (General Fund), the Waste Department (General Fund), and Parks (General Fund), including, but not limited to, (i) two (2) 6-wheel one ton dump trucks, (ii) one (1) service truck with crane, (iii) blacktop rollers, (iv) one (1) street sweeper, (v) one (1) John Deer 524L with snow blower attachment, (vi) one (1) Ford Pick-up Truck with plow and (viii) one (1) truck and lift maintenance vehicle; b. Acquisition and installation of equipment (Smart Cities $2,025,000 5 years Initiatives and Infrastructure) (General Fund), including acquisition and installation of fiber optic lines throughout the City and related infrastructure; c. Acquisition of vehicles for use by the Police $753,300 3 years Department (General Fund); 20029959.6  d. Acquisition of equipment for use by the Police $602,513 5 years Department (General Fund), including tasers, mobile data terminals, replacement computer, servers, body cameras, in-car video, speed signs with camera and speed hump; e. Acquisition of a fire suppression equipment for use by $50,625 10 years the Police Department (General Fund) f. Design construction, reconstruction, widening or $1,626,126 15 years resurfacing of City streets (General Fund) including, but not limited to: (i) pavement preservation of Broadway, (ii) Brandywine Avenue, (iii) Francis Avenue, (iv) pavement of various City Streets included in the 2021 Paving Program, (v) various downtown street improvements; and (vi) the Rosa/Nott/Wendell Intersection; g. Renovations of and improvements to various City $1,113,750 25 years buildings including, but not limited to renovation and improvement of a courtroom and firing range; h. Design, construction and reconstruction of the Kings $242,474 20 years Road Bridge (General Fund); Estimated Cost: $21,327,623 Amount of obligations to be issued: $7,447,551 20029959.6