June 11, 2013 – Resolution – Transfer of Eureka Cafe Loan to SCFC Millennium Loan

    RESOLUTION 

                A regular meeting of County of Sullivan Industrial Development Agency (“Agency”) was convened in public session at the Sullivan County Government Center, 100 North Street, Village of Monticello, Sullivan County, New York on June 11, 2013 at 10:00 a.m. local time. 

                The meeting was called to order by Chairman Ira Steingart, and, upon roll being called, the following members of the Agency were: 

                                                                PRESENT                   ABSENT 

                Ira Steingart                            [           ]                       [           ]

                Harold Gold                            [           ]                       [           ]

                Edward T. Sykes                    [           ]                       [           ]

                Suzanne Loughlin                   [           ]                       [           ]

                Charles Barbuti, Jr.                 [           ]                       [           ]

                Harris Alport                           [           ]                       [           ]

                Steve White                            [           ]                       [           ]

                Sandy Shaddock                     [           ]                       [           ]

                Sean Rieber                             [           ]                       [           ]

     

                The following persons were also present:

                Allan C. Scott, Chief Executive Officer

                Jennifer C.S. Brylinski, Agency Executive Director

                Walter F. Garigliano, Agency General Counsel

                The following resolution was duly offered by _____________________, and seconded by ________________________, to wit:

     

                                                              Resolution No. ____ – 13 

    RESOLUTION AUTHORIZING AND APPROVING THE TRANSFER OF THE EUREKA MARKET & CAFÉ, INC. (“EUREKA MARKET”) AND COUNTRY HOUSE REALTY, INC. (“COUNTRY HOUSE” AND TOGETHER WITH EUREKA CAFÉ, “COMPANY”) LOAN FUND LOAN FROM THE AGENCY TO THE SULLIVAN COUNTY FUNDING CORPORATION’S (“SCFC”) MILLENNIUM REVOLVING LOAN FUND (“MRLF”) 

                WHEREAS, the Agency was created by Chapter 560 of the Laws of 1970 of the State of New York, as amended, pursuant to Title I of Article 18-A of the General Municipal Law of the State of New York (collectively, the “Act”) as a body corporate and politic and as a public benefit corporation of the State of New York; and

                WHEREAS, on September 16, 2011 the Agency made a $75,000.00 revolving loan fund (“RLF”) loan to the Company which was originally applied for and approved as a MRLF loan, but was closed under the Agency’s RLF to expedite the loan; and 

                WHEREAS, the Company engages local high school students and has requested the opportunity to receive “Harris” credits which are available only for loans held in the MRLF portfolio; and 

    WHEREAS, the Agency wishes to authorize the assignment of the loan and the modification of the loan documents to meet the requirements of the MRLF. 

                NOW, THEREFORE, BE IT RESOLVED BY THE MEMBERS OF THE AGENCY AS FOLLOWS: 

                Section 1.        The Agency hereby approves the transfer and assignment of the Company’s loan from the Agency’s RLF over to SCFC’s MRLF. 

    Section 2.        The Agency authorizes its Chief Executive Officer to sign any and all agreements, certificates, documents and instruments necessary to effectuate the foregoing. 

                Section 3.        The officers, employees and agents of the Agency are hereby authorized and directed for and in the name and on behalf of the Agency to do all acts and things required and to execute and deliver all such certificates, instruments, documents, and to pay all such fees, charges and expenses and to do all such further acts and things as may be necessary or in the opinion of the officer, employee or agent acting on behalf of the Agency desirable and proper to effect the purposes of the foregoing resolutions and to cause compliance by the Agency with all the terms, covenants and provisions of the documents for and on behalf of the Agency. 

                Section 4.        These resolutions shall take effect immediately. 

                The question of adoption of the foregoing resolutions were duly put to a vote on roll call, which resulted as follows:           

                Ira Steingart                            [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Harold Gold                            [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain     

                Edward T. Sykes                    [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Suzanne Loughlin                   [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Charles Barbuti, Jr.                 [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Harris Alport                           [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Steve White                            [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Sandy Shaddock                     [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Sean Rieber                             [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain          

                The resolutions were thereupon duly adopted. 

     

    STATE OF NEW YORK       :                      

                                                    :SS

    COUNTY OF SULLIVAN   : 

                I, the undersigned (Assistant) Secretary of the Agency DO HEREBY CERTIFY THAT: 

    1.         I have compared the foregoing copy of a resolution of the Agency with the original thereof on file in the office of the Agency, and that the same is a true and correct copy of such resolution and of the proceedings of the Agency in connection with such matter. 

    2.         Such resolution was passed at a meeting of the Agency duly convened in public session on the 11th day of June, 2013 at 10:00 a.m. at the SullivanCountyGovernmentCenter, 100 North Street, Village of Monticello, Sullivan County, New York, at which the following members were present: 

                                                                PRESENT                   ABSENT 

                Ira Steingart                            [           ]                       [           ]

                Harold Gold                            [           ]                       [           ]

                Edward T. Sykes                    [           ]                       [           ]

                Suzanne Loughlin                   [           ]                       [           ]

                Charles Barbuti, Jr.                 [           ]                       [           ]

                Harris Alport                           [           ]                       [           ]

                Steve White                            [           ]                       [           ]

                Sandy Shaddock                     [           ]                       [           ]

                Sean Rieber                             [           ]                       [           ] 

    3.         The question of the adoption of the foregoing resolution was duly put to a vote on roll call which resulted as follows: 

                Ira Steingart                            [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Harold Gold                            [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain     

                Edward T. Sykes                    [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Suzanne Loughlin                   [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Charles Barbuti, Jr.                 [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Harris Alport                           [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Steve White                            [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Sandy Shaddock                     [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Sean Rieber                             [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain 

                and therefore, the resolution was declared duly adopted. 

                I FURTHER CERTIFY that (i) all members of the Agency had due notice of said meeting, (ii) pursuant to Sections 103a and 104 of the Public Officers Law (Open Meetings Law), said meeting was open to the general public and public notice of the time and place of said meeting was duly given in accordance with such Sections 103a and 104, (iii) the meeting in all respects was duly held, and (iv) there was a quorum present throughout. 

                IN WITNESS WHEREOF, I have hereunto set my hand and seal on the 11th day of June, 2013.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                ______________________________

                                                                                                                                                   Secretary

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