Final-AR-2015-2016-8.5x11

JCCFDC 2015-2016 Highlights
programs, in addition to identifying
new projects and programs that will
achieve the Corporation’s purposes
and Mission. In furtherance of
these stated goals, the Corporation
will endeavor to comply with all
applicable provisions of the Act,
PAAA and PARA. With these stated
goals established, the Corporation’s
values are to maintain the highest
ethical standards applicable to public
officials and localauthorities.
JCCFDC Performance
Measures
The Corporation shall annually review
this Mission Statement and identify
whether the Corporation (i) continues
to meet its stated mission, goals and
values; (ii) can quantify measures of
improvement to better meet its stated
mission, goals and values; (iii) can
become more effective and efficient;
and (iv) is meeting the interests of
the Corporation. In furtherance of the
foregoing Performance Measures, the
Corporation shall further undertake
the following annual measures:
1) Assure that all current
Corporation Members have
acknowledged that they have read
and understood the mission of the
Corporation;
2) An annual review and
affirmation of the Corporation’s
membership, board, committee and
management structure;
An annual review and affirmation of its policies, along
with Corporation appointment of Management of the
Corporation, along with articulation ofthe respective roles,
goals and expectations of each.
Activities:
Bonds:
Samaritan Medical Center
Resolution 11.12.2015.01 $11,000,000
Samaritan Medical Center requested that the Issuer
consider issuing its Revenue Bonds (Samaritan Medical
Center Project) in the aggregate principal amount not to
exceed$11,000,000 (the “Series 2015 Bonds”) to finance
a project described below (the “Project”) for the benefit of
the Institution consisting of (A) the refinancing of certain
indebtedness to KeyBank National Association (the “Bridge
Loan”) incurred to finance the acquisition of an existing
47,607 square foot 3 story medical office building and the
existing improvements thereon consisting principally of an
approximately 143,600 sq. ft. parking facility consisting
of approximately 350 parking spaces, parking areas
containing in the aggregate a capacity for approximately
192 vehicles and other related improvements (the “Existing
Improvements”) situated on approximately +2.7 acres of
land located at 826 Washington Street and 128 Woodruff
Street in the City of Watertown, Jefferson County, New
York (the “Land” and,
together with the Existing Improvements, the “Project
Facility”); and (B) paying certain costs and expenses
incidental to the issuance of the Series 2015 Bonds.
The Project Facility will be owned by the Institution.
The Issuer and the Institution will enter into a financing
agreement (the “Agreement”) requiring that the Institution
make payments equal to the debt service on the Series
2015 Bonds and make certain other payments.
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