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Topics Of Discussion  
Council Work Session
 
Meeting Date:
08/17/2021
Energy Performance Project Lease - U.S. Bancorp
Submitted By:
Jim Bell
Department:
Division:
Accounting
Council Committee Review?:
Council Work Session
Date(s) of Committee Review:
06/22/21 and 07/20/21 and 08/17/2021
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 July 26, 2021 City Council Meeting, City Council adopted Resolution No. 2021-R-7022: A Resolution Authorizing The City Manager To Execute An Additional Capital Lease Agreement With U.S. Bancorp Government Leasing And Finance For The Purposes Of Funding Change Order #3 To The Guaranteed Energy Savings Performance Contract (GESPC) With Energy Systems Group, LLC (ESG). The legislation was to approve an additional $360,141 to the energy lease approved by City Council in 2020 for an additional scope of work at Fire Station #22 and Fire Station #23. Following the adoption of this legislation, further discussions with Bond Counsel resulted in the need for more technical legislation on the subject. The new lease is not in addition to the approved energy lease in 2020, but a separate and new lease which requires approval by ordinance. City Staff recommend the first reading, waiving of the second reading, and approval of this emergency legislation at the August 23, 2021 City Council Meeting so the improvements at the two fire stations can commence immediately.
Fiscal Impact
Source of Funds:
Fire Capital/Equipment Fund
Cost:
$28,650
Recurring Cost? (Yes/No):
Yes
Funds Available in Current Budget? (Yes/No):
Yes
Financial Implications:
Attachments
Ordinance
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