SPECIAL MEETING
VILLAGE OF CANDOR BOARD OF TRUSTEES
138 MAIN STREET, CANDOR, NY
November 30, 2010

The Honorable Mayor Steven Sparling called a special meeting of the Village of Candor Board of Trustees to order at 5:30 pm on November 30, 2010, at the Village Hall, 138 Main Street, Candor, NY.

Those in attendance included Trustees Gary Consalvi, Mike Swartz, Chris Brown and Nancy King; Clerk Jan Swartz; and Deputy Clerk Jean Dewey.

Bid Results - Vacri Construction Corporation was the only bidder for the standby generator for the Morrow Pump House. Their bid was $39,900.

Financing – Jean Dewey contacted Visions Federal Credit Union and Tioga State Bank to obtain "ballpark" interest rates for a loan of $27,000. Visions quoted 6% – 6.5% interest rate for a 5 year loan for that amount of money, and Tioga State Bank quoted 1.83% interest rate for a 2 year loan for $27,000, as well. Discussion followed. It was anticipated that the loan would be repaid by December 2012 even if the Village residents voted to dissolve the Village in the March 2011 election.

Acceptance of Bid - A motion was made by Trustee Consalvi, seconded by Trustee Brown, to accept the bid of $39,900 submitted by Vacri Construction for the installation of a standby generator at the Morrow Pump House. A vote was taken and Trustees Consalvi, Brown, Swartz and King voted aye. The motion was approved and carried.

Approval for Loan Application – A motion was made by Trustee Brown to approve financing $27,000 through Tioga State Bank for a two-year loan with a 1.83% interest rate for the purchase of a standby generator for the Morrow Pump House. The remaining balance of the cost of the generator ($12,900) would be covered by the existing capital fees in the water fund. The motion was seconded by Trustee Swartz. A vote was taken and Trustees Brown, Swartz, King and Consalvi voted aye. The motion was approved and carried.

A conference call was held with Attorney Schrader and he was advised of his need to be involved in the loan process for the purchase of the generator, per Tioga State Bank’s directive.

There being no further business, the meeting adjourned at 6:00 pm.

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