ST. LAWRENCE COUNTY LOCAL DEVELOPMENT CORPORATION
Resolution No. 11-29 (*Withdrawn*)
November 9, 2011
AUTHORIZING A LOAN OF $10,000 TO JENNIFER A. BUNNELL D/B/A UNFORGETTABLE
ESSENTIALS
WHEREAS, the St. Lawrence County Local Development Corporation administers the St.
Lawrence County Microenterprise Revolving Loan Fund, and
WHEREAS, Jennifer A. Bunnell has applied for $10,000 from the Microenterprise Revolving
Loan Fund for working capital to support start-up costs such as inventory, store supplies, furniture, and
fixtures for Unforgettable Essentials in Massena, and
NOW, THEREFORE, BE IT RESOLVED that the St. Lawrence County Local Development
Corporation agrees to loan an amount not to exceed $10,000 from the Microenterprise Revolving Loan
Fund to Unforgettable Essentials, and
BE IT FURTHER RESOLVED that said loan shall be subject to the following terms and
conditions:
Interest Rate
Term
Security
Other
Move:
Second:
VOTE
Chambers
Clark
Marr
O’Bryan
Ragan
4% on $10,000 Loan
Five (5) Year Amortization Schedule on Loan.* [Loan schedule will provide for an initial
four (4) months of interest-only payments, followed by a monthly loan repayment
period of 56 months.]
 Unlimited Personal Guarantee of Jennifer A. Bunnell
 Co-equal 1st position with AEDC on equipment, inventory and business assets.
 Agreement to meet with the Small Business Development Center on a regularly
scheduled basis to discuss current business operation.
 The owner/applicant meets the Low- and Moderate- Income criteria, therefore is not
required to create any additional jobs.
 The Company agrees to make available to the St. Lawrence County Local
Development Corporation information necessary to secure liens on collateral as
described above; this includes, but is not limited to, providing serial numbers of
machinery and equipment, allowing photographs thereof, and periodic inspection and
inventory of collateral.
 Evidence of public liability insurance coverage in an amount to be determined by
Counsel.
(V = Voice Vote; P = Proxy Vote)
Yea
Nay
Abstain
Absent
I hereby certify that I have compared a copy of this Resolution with the
original record in this office and that the same is a correct transcript
thereof and of the whole of said original record.
/S/
Lori Sibley
Scott
Snyder
* No vote to bring resolution to the table, therefore, withdrawn.
Lori Sibley
November 9, 2011