Agenda Item # 12.a.
City Commission Regular Meeting
- Meeting Date:
- 03/03/2014
- Re
- Resolution 14-R15 - Energy Conservation Equipment
- Submitted For:
- Robert Schwerer
SUBJECT:
Resolution 14-R15 accepting the proposal of Bank of America to purchase the City's not to exceed $6.15 Million capital improvement revenue note to finance the City's cost of Acquiring and Installing Energy Conservation Equipment.
Approval of Guaranteed Energy and Water Performance Savings Contract between City of Fort Pierce and BGA, Inc. which was manually routed.
Approval of Guaranteed Energy and Water Performance Savings Contract between City of Fort Pierce and BGA, Inc. which was manually routed.
SUMMARY:
Financing Agreement by and between the City of Fort Pierce, Florida and Bank of America, N.A. for the purchase of the City’s Not To Exceed $6.15 Million Capital Improvement Revenue Note, Series 2014 to finance the City’s costs of acquiring and installing Energy Conservation Equipment under a Guaranteed Energy, Water and Wastewater Performance Savings Contract.
Both the Resolution and the Financing Agreement, together with any other loan documents that are required under the agreement have been coordinated with the City’s bond counsel, Mike Williams. Mr. Williams will be in attendance at the Commission meeting and along with this office, will be available to answer any questions concerning the financing documents.
Both the Resolution and the Financing Agreement, together with any other loan documents that are required under the agreement have been coordinated with the City’s bond counsel, Mike Williams. Mr. Williams will be in attendance at the Commission meeting and along with this office, will be available to answer any questions concerning the financing documents.
RECOMMENDATION:
Legal is recommending the Commission approve Resolution #14-R15 subject to final execution of the Guaranteed Energy, Water and Wastewater Performance Savings Contract by and between the City and BGA, Inc., a Florida corporation.
ALTERNATIVES:
None
RESPONSIBLE STAFF:
Robert V. Schwerer, City Attorney
COORDINATED WITH:
Karen Emerson, Assistant City Attorney
Steven A. Torres, Consultant
Michael Williams, Bond Attorney
Steven A. Torres, Consultant
Michael Williams, Bond Attorney
Fiscal Impact
- Budgeted Y/N:
- Fiscal Year:
- Account:
- Amount:
OTHER INFORMATION:
Not To Exceed $6.15 Million Capital Improvement Revenue Note, Series 2014
Attachments
- Cover Memo from City Attorney
- ESPC Pres
- 14-R15
- BOA Financing Agreement
- Summary Memo
- Contract
- Guaranty Agreement
- ESPC Schedule
- ESPC Schedule F
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Finance Department | gjohnson | 02/26/2014 03:22 PM |
| City Manager | rbradshaw | 02/27/2014 08:33 AM |
- Form Started By:
- Linda Cox
- Started On:
- 02/21/2014 04:31 PM
- Final Approval Date:
- 02/27/2014