June 2013 – Finance — OCIDA-6-19-13-FINANCE-MINUTES
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Onondaga County Industrial Development Agency
Finance Committee Meeting Minutes
June 19, 2013
A Finance Committee meeting of the Onondaga County Industrial Development Agency was
held on Wednesday, June 19, 2013 at the 333 West Washington Street, Syracuse, New York in
the large conference room on the first floor.
Chairman Daniel Queri called the meeting to order at 7:45 am with the following:
PRESENT:
Daniel Queri
Michael Allen
ABSENT:
Donna DeSiato
ALSO PRESENT:
Kristi Smiley, OCIDA, Secretary & Treasurer
Karen Doster, Recording Secretary, Agency
Nora Spillane, Office of Economic Development
Tony Rivizzigno, Gilberti Law Firm
Ed Kelley, Bond, Schoeneck & King
Sara Wisniewski, Gilberti Law Firm
APPROVAL OF FINANCE COMMITTEE MEETING MINUTES — APRIL 19, 2013
Upon a motion by Mike Allen, seconded by Daniel Queri, the OCIDA Board approved the
Finance Committee meeting minutes of April 19, 2013. Motion was carried.
AMERICAN INTERMODAL CONTAINER MANUFACTURING INC. — REVIEW
PROPOSED FINANCING STRUCTURE

Ed Kelley stated that the draft documents for the financing have been circulated to all the
involved parties for the transaction. He stated that the actual financing will be in the range of
$92,000,000 but will be set based on interest rates at the pricing that will be used for calculating
the reserve funds. He stated that the transaction is moving forward and is scheduled to close next
month. He stated that the marketing of the debt will take a couple of weeks for the underwriters
in terms of lining up the commitments. He stated that if they get the approval now it will give
them two to three weeks to market, set the price and typically a week or two after that the
documents will be finished and they go to a closing. He stated that the rates have continued to be
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very attractive. He stated that the tax exempt rates have gone up somewhat and the taxable rates
have held firm.
Upon a motion by Mike Allen, seconded by Daniel Queri, the OCIDA Finance Committee
approved a resolution recommending to the full board approval of up to $95,000,000 in taxable
bonds for the American intermodal Container Manufacturer Inc. Motion was carried.
Upon a motion by Mike Allen, seconded by Daniel Queri, the OCIDA Board adjourned the
meeting at 7:48 am. Motion was carried.
Kristi Smiley, Secretary