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NEwvoRK'----STATEOFOPPORTUNITY.Environmental t FacilitiesCorpora10nDRAFT COMMITTEE AND BOARD MEETINGS MATERIALS FOR POSTINGIN ACCORDANCE WITH THE REQUIREMENTS OF NEW YORK STATE'SOPEN MEETINGS LAWCommittee and Board MeetingsWednesday, August 31, 2022Finance Committee11:00 a.m.Board of Directors11:30 a.m.
wvoRK Environmental oRTUNITY.FacilitiesCorporationJEOFKATHY HOCHULGovernorMAUREEN A. COLEMANPresident & CEOMemorandumAugust Finance Committee Meeting InformationAugust 24, 2022To:From:The Members of the Finance CommitteeMaureen A. Coleman /s/Attached for your review are the agenda and accompanying materials that will be discussedduring the August meeting of the Finance Committee, which will take place viavideoconference and in the Board Room on the seventh floor of the Corporation's office onWednesday, August 31, 2022 at 11:00 a.m.Should you have any questions regarding the attached information, please contact me at (518) 402-6924.Thank you,MAC/kshCc:Selby SmithNick RisleyExecutive and Senior StaffPresentersAttachments625 Broadway, Albany, NY 12207-2997 518.402.6924 www.efc.ny.gov
wvoRK Environmental oRTUNITY.FacilitiesCorporationTE OFMeeting of the Finance CommitteeWednesday, August 31, 2022 11:00 a.m.AGENDA1. Call to order by the Chair2. Roll call3. Approval of the Draft Minutes from the June 23, 2022 Finance CommitteeMeeting.4. Presentation/DiscussionState Revolving Funds Debt Authorization Request. Clean Water and Drinking WaterState Revolving Funds Bonds, Series 2022B Formal Resolution (I.D. No. 1) to bepresented to the Board.5. Adjournment
New York State Environmental Facilities CorporationMeeting of the Finance CommitteeThursday, June 23, 2022Draft MinutesA meeting of the Finance Committee was held on June 23, 2022 in the Board Room onthe seventh floor of the Corporation’s office located at 625 Broadway, Albany, New Yorkand by videoconference, in accordance with the Corporation’s Bylaws and Chapter 1 ofthe Laws of 2022. A quorum was present as indicated:Committee Members:Francis T. Corcoran, ChairVita DeMarchiCharles KruzanskyAdam ZurofskyBoard Members:The following members of the Board of Directors were also present at the meetingbut did not vote on any matters requiring action by the Finance Committee.Jeffrey Stefanko, Board Chair DesigneeEFC Staff:Maureen A. Coleman, President and CEOMichael P. Hale, Executive Vice PresidentHenrik Westin, General CounselAlbert Schnide, ControllerKate S. Howard, Secretary to the Corporation and Associate CounselWilliam Brizzell, Director of EngineeringBrian McClintock, Director of Public FinanceBrian McEvoy, Director of Equity FinanceDerek Sellman, Deputy General CounselWileen Chick, Chief Risk OfficerMichael Roizman, System AdministratorBernadette Futia, Information Technology Coordinator IIIKaitlin Penner, Deputy Director of EngineeringAdnan Mirza, Systems Administrator1. Call to order by ChairMr. Corcoran called the meeting to order at 10:48 a.m.2. Approval of the Draft Minutes from the September 2, 2021 MeetingUpon motion by Mr. Kruzansky and seconded by Ms. DeMarchi, the minutes from theSeptember 2, 2021 Finance Committee meeting were unanimously approved.
3. Approval of the Draft Minutes from the February 14, 2022 Special MeetingUpon motion by Mr. Zurofsky and seconded by Mr. Kruzansky, the minutes from theFebruary 14, 2022 Special Finance Committee meeting were unanimously approved.4. Review and Reassessment of the Finance Committee CharterThe Committee conducted its annual review of the Finance Committee Charter, acopy of which was provided to the Committee and the full Board for review on June16, 2022. The Chair reported that there were no proposed changes to the Chartersince it was last approved on June 24, 2021. Upon motion by Ms. DeMarchi andseconded by Mr. Zurofsky, the Committee voted unanimously to recommend theacceptance and approval by the full Board of the Finance Committee Charter as it iswritten.5. Annual Debt Report for the Fiscal Year Ended March 31, 2022Mr. Schnide discussed the Annual Debt Report, a copy of which was provided to theCommittee and the full Board for review on June 16, 2022. Upon motion by Mr.Zurofsky and seconded by Ms. DeMarchi, the Committee voted unanimously torecommend the acceptance and approval of the Annual Debt Report by the full Boardupon presentation of I.D. No. 1 on the June 23, 2022 Board Meeting agenda.6. AdjournmentThere being no further business, upon motion made by Mr. Kruzansky and secondedby Ms. DeMarchi, the meeting adjourned at 10:56 a.m.BY:2Kate Siobhan HowardSECRETARY TO THE CORPORATION
New York State Environmental Facilities CorporationFinance CommitteeAugust 31, 2022State Revolving Fund Debt Authorization RequestSeries 2022BEstimated Par: 819,780,000*Series 2022B Overview . . pages 2 & 3Security and Expected Ratings. . .page 4Recipient List . .pages 5 - 72010 MFI Credit Profile . .pages 8 & 9Other Proposed Board Actions:NonePreliminary Schedule:RatingsPreliminary Official StatementPricingClosing*Note:October 25October 27November 1December 6Estimated par amounts are based on current market conditions and are subject to change. Maximum boardauthorization request amounts denoted on page 2 .
Series 2022B ------------------------Clean Water and Drinking Water State Revolving Funds Bonds, Series 2022B (Tax-Exempt), 2010Master Financing Indenture (the “2010 MFI”), Thirteenth Supplemental IndentureProceeds will be used to refinance Clean Water (CW) and Drinking Water (DW) SRF short-termfinancings and provide new money for project costs on behalf of 28 recipients and 37 projects.In addition certain EFC Series 2012 B outstanding bonds for 31 recipients and 59 projects andEFC Series 2012E outstanding bonds for 24 recipients and 34 projects may be funded with theproceeds from Series 2022 B. Estimated present value savings for refunding Series 2012 B andSeries 2012 E is currently 5.97 million.A blend rate funding model will be used, sizing bonds to fund a portion of underlying recipientfinancings and applying equity to fund the remainder. The equity allocations essentially fund theinterest-free component of each subsidized financing, satisfying the CWSRF and DWSRFsubsidy ------------------------New Money/Refinancing: 589,807,000 CWSRF to fund 23 projects 135,629,000 DWSRF to fund 14 projectsRefunding Proceeds: 87,406,000 CWSRF to refund 84 projects 6,938,000 DWSRF to refund 9 projectsSources and Uses: 819,780 (Maximum Authorization)Sources ( in thousands)Uses ( in thousands)MaximumAuthorizationSeries 2022 B BondProceeds490,653SRF EquityRecipient onRefundingDepositDeposit forRefinancing/NewMoneyCost of Issuance717,1729,966Total819,78092,642Note: Current estimates may change based on market conditions at pricing.Page 2 of 9
AggregateEstimated Financing Amounts ( 000)ProceedsEquityNumber ofBondsProjectsClean Water677,213288,831388,382107Drinking 653130New MoneyEstimated Financing Amounts ( 000)ProceedsEquityNumber ofBondsProjectsClean Water589,807288,831300,97623Drinking 0937RefundingEstimated Financing Amounts ( 000)ProceedsClean WaterDrinking WaterTotalEquityNumber 4,34493Page 3 of 9
Security These bonds will be issued on a Senior basis under the 2010 MFI. Bonds will be secured by a pledge of the cash flows from all recipient repaymentobligations funded from 2010 MFI bond proceeds and equity, including pledged cashflows from certain previously issued direct loans. As required by the 2010 MFI,anticipated cash flows will provide a minimum of 1.15 times coverage for senior andsubordinated bond debt service. Most recent projected coverage is 1.36 times the amountnecessary to pay debt service on all 2010 MFI obligations for the year ending September30, 2023. All bonds issued under the 2010 MFI are also secured by cash flow releases from EFC’sNYCMWFA (NYW) bond indenture. If available cash flow releases are not sufficient, EFC, at its discretion, may use availableamounts in the CWSRF and DWSRF unallocated equity accounts within EFC’s equityfund to cure or prevent defaults in the payment of the principal and interest on 2010 MFIbonds and the payment of EFC’s other 2010 MFI obligations. Under the 2010 MFI,senior and subordinated bondholders have an equal claim to available equity balances.Expected Ratings Standard & Poor’sAAA Moody’sAaa Fitch RatingsAAAPage 4 of 9
2022B New Money Recipient List2022B RecipientTypeProgramEstimatedSRFFinancing (000)InterestSubsidyEstimated FinancingAmounts (000)BondEquityRatingsFinalMaturityMoody'sS&P% RNR0.16%Hudson River BlackRiver Regulating oCW149,46550%74,73274,7333/1/2052A1A A18.03%North %NYCMWFAAuCW141,29150%70,64570,6469/1/2052Aa1AA AA 3AAAA BBB 17.73%Sylvan BeachVCW3,3000%3,30009/1/2052NRNRNR0.40%Tuxedo 7590%8,75909/1/2040Aa1AA AA A AA %Fort ,8851,9433/1/2052NRA 1AA AA %Saratoga County StillwaterVDW4760%47603/1/2052NRNRNR0.06%Page 5 of 9
2022B Refunding Recipient List2012B Recipients2022B RecipientTypeProgramEstimatedSRF Financing (000)EstimatedFinancingAmounts (000)BondEquityRatingsFinalMaturity% ofSeriesMoody'sS&PFitchAlbany 4581,45805/1/2033AaaAAANR0.18%Buffalo MunicipalWater FinanceAuthorityAUCW84884807/16/2030NRA nieTCW24324306/16/2025A3A W4,2884,28805/1/2042A1AA-A 0.52%GreenportTCW2323012/16/2025NRNRNR0.00%Johnson 501,95005/1/2032NRAA-NR0.24%Kiryas JoelVDW32032005/1/2032NRA-NR0.04%Livingston CountyWater and townCCW6,2486,24805/1/2042A1NRNR0.75%Niagara Falls PublicWater AUCW6,2736,27307/16/2025Aa1AA AA W3,5383,53805/1/2034Aa3AAAA 0.43%OwascoTCW308308011/1/2041NRA /16/2025Aa2AAA0.05%Rockland kets HarborVCW10510507/16/2027NRA nTCW948948010/16/2031NRNRNR0.11%Page 6 of 9
2012E Recipients2022B RecipientAuburnTypeCProgramEstimated SRFFinancing (000)EstimatedFinancingAmounts /16/2024% 151,11504/16/2031A2NRNR0.13%Briarcliff ManorVDW3,6933,69305/1/2032Aa2AA NR0.45%Buffalo SewerAuthorityAUCW7,7827,78204/16/2032NRA aCCW3535011/16/2024Ba1BBB NR0.00%ErieCOCW59559504/16/2032A1AA-A versvilleCCW31531504/16/2032A3NRNR0.04%Great NeckVCW202005/16/2023NRAAANR0.00%Highland 0120011/16/2024NRNRNR0.01%Mount PleasantTDW0004/15/2023AaaNRNR0.00%North 32Aa3AAAA 15/2032NRA NR0.03%Roslyn 2Aa1AA AA 0.33%Page 7 of 9
2010 MFI Recipients by Principal Balance(Projected as of December 6, 2022)Recipient NameRecipient OutstandingPrincipal (including2022B)Percentage of Total 2010MFI Outstanding Principal(including 2022B)Westchester CountyOneida CountyOnondaga CountyNYCMWFASuffolk CountyNassau CountyRockland CountyCity of BinghamtonVillage of Johnson CityTown of North HempsteadErie CountyTown of TonawandaNYSERDAVillage of Kiryas JoelCity of RomeBuffalo Sewer AuthorityCity of MiddletownMonroe County Water AuthorityCity of OswegoOtherTotal 359,863,365.00 268,518,422.00 259,748,962.00 254,867,500.00 208,536,705.00 182,489,700.00 127,000,000.00 96,894,287.00 81,507,112.00 61,415,083.00 41,442,557.00 38,642,000.00 38,400,000.00 35,649,663.00 32,091,910.00 31,035,714.00 27,280,000.00 24,925,000.00 24,120,000.00 795,818,250.00 1%0.83%0.81%26.61%100.00%ClassNumber ofRecipientsNumber ofFinancingsOutstanding al18331310998271447791176136524 441,288,683.00 335,006,360.00 1,473,030,594.00 379,204,496.00 361,716,097.00 2,990,246,230.00Page 8 of 9
SRF Credit Quality of 2010 MFI Recipients(Projected as of December 6, 2022)Ratings CountRatingCategoryMoody'sS&PFitchOutstanding Principalby Best RatingTriple-ADouble-ASingle-ATriple-BDouble-BNot RatedTotal11603072161271747372017827116410259271 103,852,950.00 1,668,899,996.00 823,243,227.00 107,462,364.00 10,862,000.00 275,925,693.00 2,990,246,230.0087% of MFI Recipients Are Rated Single-A or BetterUsing Best Rating from the three Ratings ServicesDouble-B0%Triple-B4%Triple-A3%Not Rated9%Single-A28%Double-A56%Page 9 of 9
wvoRK Environmental oRTUNITY.FacilitiesCorporationJEOFKATHY HOCHULGovernorMAUREEN A. COLEMANPresident & CEOMemorandumAugust Board Meeting InformationAugust 24, 2022To:From:The Members of the Board of DirectorsMaureen A. Coleman /s/Attached are the agenda and accompanying materials for discussion during the Augustmeeting of the Board of Directors, which will take place via videoconference and in theBoard Room on the seventh floor of the Corporation's office on Wednesday, August 31,2022 at 11:30 a.m.Should you have any questions regarding the attached information, please contact meat (518) 402-6924.Thank you,MAC/kshCc:Selby SmithNick RisleyExecutive and Senior StaffPresentersAttachments625 Broadway, Albany, NY 12207-2997 518.402.6924 www.efc.ny.gov
wvoRK Environmental TE OF0RTUN1rv.FacilitiesCorporationKATHY HOCHULGovernorMAUREEN A. COLEMANPresident & CEOMeeting of the Board of DirectorsWednesday August 31, 2022 11:30 a.m.Agenda1.Roll call and declaration of quorum2.Approval of the Draft Minutes from the June 23, 2022 Board Meeting3. Report of the Chair4. President’s Report5. Committee Reports6. Unfinished Business7. ResolutionsI.D. No. 1A RESOLUTION OF THE NEW YORK STATE ENVIRONMENTALFACILITIES CORPORATION AUTHORIZING THE ISSUANCE OF UP TO 819,780,000 NEW YORK STATE ENVIRONMENTAL FACILITIESCORPORATION STATE CLEAN WATER AND DRINKING WATERREVOLVING FUNDS REVENUE BONDS (POOLED FINANCING PROGRAM)OR ALTERNATIVELY AUTHORIZING LONG-TERM DIRECT FINANCINGSI.D. No. 2A RESOLUTION OF THE NEW YORK STATE ENVIRONMENTALFACILITIES CORPORATION AMENDING THE PRIOR AUTHORIZATIONSFOR FINANCIAL ASSISTANCE TO BE PROVIDED BY THE CORPORATIONTO CERTAIN RECIPIENTS IN CONNECTION WITH THE DRINKING WATERSTATE REVOLVING FUNDI.D. No. 3A RESOLUTION OF THE NEW YORK STATE ENVIRONMENTALFACILITIES CORPORATION MAKING CERTAIN DETERMINATIONS ANDAUTHORIZING CERTAIN ACTIONS IN CONNECTION WITH THE DRINKINGWATER STATE REVOLVING FUND AND AUTHORIZING FINANCIALASSISTANCE PAYMENTS TO CERTAIN MUNICIPALITIES TO FUNDELIGIBLE DRINKING WATER PROJECTS FROM FUNDS APPROPRIATEDFOR WATER INFRASTRUCTURE IMPROVEMENT PROJECTS
I.D. No. 4A RESOLUTION OF THE NEW YORK STATE ENVIRONMENTALFACILITIES CORPORATION MODIFYING THE PRIOR AUTHORIZATIONFOR FINANCIAL ASSISTANCE PROVIDED BY THE CORPORATION TO ACERTAIN RECIPIENT IN CONNECTION WITH THE DISASTER RELIEFAPPROPRIATIONS ACT OF 2013 AND THE CLEAN WATER STATEREVOLVING FUNDI.D. No. 5A RESOLUTION OF THE NEW YORK STATE ENVIRONMENTALFACILITIES CORPORATION AMENDING THE PRIOR AUTHORIZATIONSFOR FINANCIAL ASSISTANCE TO BE PROVIDED BY THE CORPORATIONTO CERTAIN RECIPIENTS IN CONNECTION WITH THE CLEAN WATERSTATE REVOLVING FUNDI.D. No. 6A RESOLUTION OF THE NEW YORK STATE ENVIRONMENTALFACILITIES CORPORATION MAKING CERTAIN DETERMINATIONS ANDAUTHORIZING CERTAIN ACTIONS IN CONNECTION WITH THE CLEANWATER STATE REVOLVING FUND AND AUTHORIZING FINANCIALASSISTANCE PAYMENTS TO CERTAIN MUNICIPALITIES TO FUNDELIGIBLE CLEAN WATER PROJECTS FROM FUNDS APPROPRIATEDFOR WATER INFRASTRUCTURE IMPROVEMENT PROJECTSI.D. No. 7A RESOLUTION OF THE NEW YORK STATE ENVIRONMENTALFACILITIES CORPORATION AUTHORIZING THE PRESIDENT OF THECORPORATION OR THE PRESIDENT’S DESIGNEE TO ENTER INTOCONTRACTS WITH ENGINEERING FIRMS TO SERVE AS ADVISORAND/OR PROVIDE ENGINEERING SERVICES TO THE PUBLICLY OWNEDTREATMENT WORKS ASSET MANAGEMENT PROGRAMI.D. No. 8A RESOLUTION OF THE NEW YORK STATE ENVIRONMENTALFACILITIES CORPORATION AUTHORIZING SETTLEMENT OF A CIVILMATTER8. New Business9. Adjournment2
New York State Environmental Facilities CorporationAnnual Meeting of the Board of DirectorsThursday, June 23, 2022Draft MinutesThe annual meeting of the Board of Directors was held on June 23, 2022 in the Board Room on theseventh floor of the Corporation’s office located at 625 Broadway, Albany, New York and byvideoconference, in accordance with the Corporation’s Bylaws and Chapter 1 of the Laws of 2022.A quorum was present as indicated:Ex Officio Member Designees:Jeffrey Stefanko, Chair Designee for the Commissioner of Environmental ConservationChristine A Westerman, Designee for the Commissioner of HealthJames Leary, Designee for the Secretary of StateIndependent Members:Francis T. CorcoranVita DeMarchiCharles KruzanskyAdam ZurofskyEFC Staff:Maureen A. Coleman, President and CEOMichael P. Hale, Executive Vice PresidentHenrik Westin, General CounselAlbert Schnide, ControllerKate S. Howard, Secretary to the Corporation and Associate CounselWilliam Brizzell, Director of EngineeringBrian McClintock, Director of Public FinanceBrian McEvoy, Director of Equity FinanceDerek Sellman, Deputy General CounselWileen Chick, Chief Risk OfficerMichael Roizman, System AdministratorBernadette Futia, Information Technology Coordinator IIIKaitlin Penner, Deputy Director of EngineeringAdnan Mirza, Systems AdministratorMaureen McGrath, Director of Administration & Corporate OperationsMáire Cunningham, Program ManagerOther Attendees:David Phillips, P.E., Chief, Design Section, Bureau of Water Supply and Protection, NYSDOH1.Roll call and declaration of quorumThe meeting was called to order by Mr. Stefanko at 12:40 p.m. Roll call was taken by theSecretary, a quorum was declared present and Mr. Stefanko proceeded with the business of themeeting.
2.Approval of the June 13, 2022 Draft Meeting MinutesUpon motion by Mr. Corcoran and seconded by Mr. Leary, the minutes from the June 13, 2022meeting of the Board were unanimously approved.3.Report of the Chair- The Chair had nothing to report.4.President's Report- The President had nothing to report.5.Committee Reports / Board Performance Review of Committees / Reappointment ofCommittee MembershipsA. Committee ReportsThe Finance Committee and Audit Committee held meetings on June 23, 2022 prior to theAnnual Board meeting. The following is a report on the matters discussed at each committeemeeting.Finance Committee – Report provided by the Finance Committee Chair, Mr. Corcoran.i. The Finance Committee approved the minutes from both the September 2, 2021 meetingand February 14, 2022 special meeting. The Finance Committee conducted its annual review and reassessment of the FinanceCommittee Charter; there were no proposed changes. Upon motion by Mr. Leary andseconded by Mr. Corcoran, the Board unanimously approved the Finance CommitteeCharter. The Committee was presented with and discussed the Annual Debt Report for the FiscalYear Ended March 31, 2022 and voted unanimously to recommend that the full Boardapprove the report upon presentation of I.D. No. 1 on the Board meeting agenda.Audit Committee – Report provided by the Audit Committee Chair, Mr. Kruzansky.ii. The Audit Committee approved the meeting minutes from the April 7, 2022 meeting. Martin Dunbar and Jeffrey Mabb from KPMG presented the Corporation's Audit resultsfor the Fiscal Year Ended March 31, 2022. The Audit Committee met with the Auditors inprivate to discuss the Audit. The Audit Committee was satisfied with the results andrecommended the full Board approve the auditor’s report. Upon motion by Mr. Kruzanskyand seconded by Ms. DeMarchi, the Board unanimously approved the auditor’s report. The Audit Committee received a copy of the Corporation's Financial Statements for theFiscal Year ended March 31, 2022. It was the recommendation of the Audit Committeethat the full Board approve the financial statements upon presentation of I.D. No. 2 on theBoard meeting agenda.2
It was also the recommendation of the Audit Committee that an internal audit function isnot required within the Corporation at this time. Upon motion by Mr. Kruzansky andseconded by Ms. DeMarchi, the Board voted unanimously to accept the recommendationof the Audit Committee. The Audit Committee discussed the rotation of the lead partner. The rotation of the leadpartner is every five years. State Fiscal Year (“SFY”) April 1, 2022 to March 31, 2023, willbe Martin Dunbar’s last year of the current five-year period. The first SFY in which Mr.Dunbar served as lead partner was April 1, 2018 to March 31, 2019. Rotation of the leadpartner is not required at this time and was not recommended by the Audit Committee. The Audit Committee reviewed the Audit Committee Charter, which has no proposedchanges. It was the recommendation of the Audit Committee that the Audit CommitteeCharter be readopted by the full Board. Upon motion by Mr. Kruzansky and seconded byMs. DeMarchi, the Board voted unanimously to readopt the Audit Committee Charter.B. Board Performance Review of CommitteesThe Board of Directors conducted its an annual review of the performances of the AuditCommittee, Finance Committee and Governance Committee. The Board unanimouslyagreed that each Committee is effective in fulfilling its responsibilities in accordancewith their governing charters.C. Reappointment of the Audit, Finance, and Governance Committees MembershipsChair Stefanko recommended reappointment of the committee members. Uponmotion by Mr. Leary and seconded by Mr. Zurofsky, the Board unanimously agreedthat the committees would be comprised of the following members:Audit CommitteeGovernance CommitteeFinance CommitteeCharles Kruzansky, ChairFrancis CorcoranVita DeMarchiAdam ZurofskyVita DeMarchi, ChairFrancis CorcoranCharles KruzanskyAdam ZurofskyFrancis Corcoran, ChairVita DeMarchiCharles KruzanskyAdam Zurofsky6. Unfinished BusinessThere was no unfinished business discussed.7. ResolutionsResolution No. 2917Following its introduction by the Secretary, Mr. Kruzansky moved for adoption of theresolution and the motion was seconded by Mr. Leary. Discussion ensued and thefollowing resolution was adopted unanimously, with the exception of Mr. Corcoran who hadto briefly step away when this resolution was presented, and made part of the minutes:A RESOLUTION OF THE NEW YORK STATE ENVIRONMENTAL FACILITIESCORPORATION WITH RESPECT TO THE REVIEW AND APPROVAL OF THEANNUAL DEBT REPORT OF THE CORPORATION3
Resolution No. 2918Following its introduction by the Secretary, Mr. Kruzansky moved for adoption of theresolution and the motion was seconded by Ms. DeMarchi. Discussion ensued and thefollowing resolution was adopted unanimously and made part of the minutes:A RESOLUTION OF THE NEW YORK STATE ENVIRONMENTAL FACILITIESCORPORATION ACCEPTING THE FINANCIAL STATEMENTS OF THECORPORATION FOR THE FISCAL YEAR ENDED MARCH 31, 2022Resolution No. 2919Following its introduction by the Secretary, Mr. Corcoran moved for adoption of theresolution and the motion was seconded by Mr. Leary. Discussion ensued and thefollowing resolution was adopted unanimously and made part of the minutes:A RESOLUTION OF THE NEW YORK STATE ENVIRONMENTAL FACILITIESCORPORATION WITH RESPECT TO THE ANNUAL REVIEW AND APPROVAL OFTHE GUIDELINES FOR THE DISPOSITION OF PROPERTY OF THE CORPORATIONResolution No. 2920Following its introduction by the Secretary, Mr. Leary moved for adoption of the resolutionand the motion was seconded by Mr. Corcoran. Discussion ensued and the followingresolution was adopted unanimously and made part of the minutes:A RESOLUTION OF THE NEW YORK STATE ENVIRONMENTAL FACILITIESCORPORATION AMENDING THE PRIOR AUTHORIZATION FOR FINANCIALASSISTANCE TO BE PROVIDED BY THE CORPORATION TO CERTAIN RECIPIENTSIN CONNECTION WITH THE DRINKING WATER STATE REVOLVING FUNDResolution No. 2921Following its introduction by the Secretary, Ms. DeMarchi moved for adoption of theresolution and the motion was seconded by Mr. Zurofsky. Discussion ensued and thefollowing resolution was adopted unanimously and made part of the minutes:A RESOLUTION OF THE NEW YORK STATE ENVIRONMENTAL FACILITIESCORPORATION MAKING CERTAIN DETERMINATIONS AND AUTHORIZING CERTAINACTIONS IN CONNECTION WITH THE DRINKING WATER STATE REVOLVING FUNDAND AUTHORIZING FINANCIAL ASSISTANCE PAYMENTS TO CERTAINMUNICIPALITIES TO FUND ELIGIBLE DRINKING WATER PROJECTS FROM FUNDSAPPROPRIATED FOR WATER INFRASTRUCTURE IMPROVEMENT PROJECTSResolution No. 2922Following its introduction by the Secretary, Mr. Leary moved for adoption of the resolutionand the motion was seconded by Mr. Zurofsky. Discussion ensued and the followingresolution was adopted unanimously and made part of the minutes:A RESOLUTION OF THE NEW YORK STATE ENVIRONMENTAL FACILITIES CORPORATIONAMENDING THE PRIOR AUTHORIZATIONS FOR FINANCIAL ASSISTANCE TO BEPROVIDED BY THE CORPORATION TO CERTAIN RECIPIENTS IN CONNECTION WITH THECLEAN WATER STATE REVOLVING FUND4
Resolution No. 2923Following its introduction by the Secretary, Ms. DeMarchi moved for adoption of theresolution and the motion was seconded by Mr. Leary. Discussion ensued and thefollowing resolution was adopted unanimously and made part of the minutes:A RESOLUTION OF THE NEW YORK STATE ENVIRONMENTAL FACILITIESCORPORATION MAKING CERTAIN DETERMINATIONS AND AUTHORIZING CERTAINACTIONS IN CONNECTION WITH THE CLEAN WATER STATE REVOLVING FUNDAND AUTHORIZING FINANCIAL ASSISTANCE PAYMENTS TO CERTAINMUNICIPALITIES TO FUND ELIGIBLE CLEAN WATER PROJECTS FROM FUNDSAPPROPRIATED FOR WATER INFRASTRUCTURE IMPROVEMENT PROJECTS8. New Business - No new business to report.9. AdjournmentUpon motion made by Mr. Kruzansky and seconded by Mr. Corcoran the meetingadjourned at 1:20 p.m.BY:5Kate Siobhan HowardSECRETARY TO THE CORPORATION
THIS RESOLUTION IS SUBJECT TO NYSEFC BOARD AND/OR PACB APPROVALAND IS BEING MADE AVAILABLE PURSUANT TO THE OPEN MEETINGS LAWI.D. No. 108/31/2022INFORMATION SUMMARYActionAuthorization of the issuance of New York State Environmental Facilities Corporation StateRevolving Fund Revenue Bonds (Series 2022B) and/or long-term direct financings in anaggregate principal amount not to exceed 819,780,000.InformationA list of the Recipients and estimated financing amounts is provided in Schedule A attachedto the Resolution. The Fact Sheets for the Clean Water and Drinking Water State RevolvingFund projects included in the financing are also provided.
CWSRF Project No. C5-5600-01-00Town of BallstonSaratoga CountyWastewater Collection System and Pump StationRecommended Action:Approval of a Long-Term Leveraged Financing 2022BPreviously AuthorizedAmountSource / Type 5,097,549Short-Term Interest-Free 10,097,549Short-Term Market-Rate 2,559,5632015 WIIA Grant - Round 2Requested AuthorizationAmountSource / Type 10,195,098Long-Term Leveraged2022BFunding Sources not Requiring AuthorizationAmountSource / Type 5,000,000Water Quality ImprovementProject Grant (WQIP) (prefinanced)Funding Sources not Requiring AuthorizationAmountSource / Type 2,559,5632015 WIIA Grant - Round 2 5,000,000Water Quality ImprovementProject Grant (WQIP)Estimated Green Project Reserve (GPR) Amount:Hardship Determination: Yes N/ANo Project Description:This project consists of the planning, design and construction of a wastewater collection system including aforcemain and new pump stations to replace onsite septic systems along the shores of Ballston Lake. The projectis defined by the engineering report entitled “Ballston Lake Sewer District,” dated September
4. Review and Reassessment of the Finance Committee Charter The Committee conducted its annual review of the Finance Committee Charter, a copy of which was provided to the Committee and the full Board for review on June 16, 2022. The Chair reported that there were no proposed changes to the Charter since it was last approved on June 24, 2021.
