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AI-7269 Topics of Discussion     G.       
  
Meeting Date: 11/02/2020  
Energy Performance Project Lease - U.S. Bancorp
Submitted By: Bryan Chodkowski
Department: Finance Division: Accounting
Council Committee Review?: Council Work Session
Date(s) of Committee Review: 11/02/2020
Audio-Visual Needs: None
Emergency Legislation?: Yes
Motion/Ordinance/
Resolution No.:

Agenda Item Description or Legislation Title
Energy Performance Project Lease - U.S. Bancorp
Purpose and Background
At the October 12, 2020 City Council Meeting, City Council adopted Resolution No. 2020-R-6922: A Resolution Authorizing The City Manager To Execute A Capital Lease Agreement With U.S. Bancorp Government Leasing And Finance For The Purposes Of Funding A Guaranteed Energy Savings Performance Contract (GESPC) With Energy Systems Group (ESG).  Following the adoption of this legislation, further discussions between the Law Director and Bond Counsel resulted in the desire for more technical legislation on the subject.

Fiscal Impact
Source of Funds: N/A
Cost: N/A
Recurring Cost? (Yes/No): N/A
Funds Available in Current Budget? (Yes/No): N/A
Financial Implications:
Attachments
Ordinance


    

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