Machine-extracted (OCR) from the official document — formatting is approximate; the official copy governs.
POLICY PROHIBITING EXTENSION OF CREDIT TO
BOARD MEMBERS, OFFICERS AND EMPLOYEES
Pursuant to Section 2824(5) of the New York State Public Authorities Law, the Board of the
Onondaga County Industrial Development Agency (the “Agency”) shall not directly or indirectly,
including through any subsidiary, extend or maintain credit, arrange for the extension of credit or
renew an extension of credit, in the form of a personal loan to or for any officer, board member or
employee (or equivalent thereof) of the Agency. No officer, director or employee of the Agency
shall accept or arrange for any loan or extension of credit from the Agency or any affiliate of the
Agency.
Adopted: [__________], 2025
1
Credit and Loan Policy – Revised January 2025