Commerce City - File #: Res 2013-25

• File #: Res 2013-25
• Version: 1
• Name: A Resolution authorizing the refinancing of the Civic Center energy equipment lease
• Type: Resolution
• Status: Passed
• File created: 4/10/2013
• In control: City Council
• On agenda: 4/15/2013
• Final action: 4/15/2013
• Title: RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION AND DELIVERY OF AN EQUIPMENT LEASE/PURCHASE AGREEMENT TO REFINANCE CERTAIN ENERGY-EFFICIENCY EQUIPMENT AND SYSTEMS, AUTHORIZING THE EXECUTION AND DELIVERY OF DOCUMENTS REQUIRED IN CONNECTION THEREWITH AND AUTHORIZING THE TAKING OF ALL OTHER ACTIONS NECESSARY TO THE CONSUMMATION OF THE TRANSACTIONS CONTEMPLATED BY THIS RESOLUTION

Date	Ver.	Action By	Action	Result
4/15/2013	1	City Council	adopted

Title

RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION AND DELIVERY OF AN EQUIPMENT LEASE/PURCHASE AGREEMENT TO REFINANCE CERTAIN ENERGY-EFFICIENCY EQUIPMENT AND SYSTEMS, AUTHORIZING THE EXECUTION AND DELIVERY OF DOCUMENTS REQUIRED IN CONNECTION THEREWITH AND AUTHORIZING THE TAKING OF ALL OTHER ACTIONS NECESSARY TO THE CONSUMMATION OF THE TRANSACTIONS CONTEMPLATED BY THIS RESOLUTION

Body

Summary & Background:

•      In 2010 the City entered into a lease of equipment and systems to save energy in City facilities.

•      The City is now able to refinance that lease at a lower interest rate (2.2%) thereby saving over $100,000 during the 10-year life of the lease.

This resolution approves and authorizes the execution of the new lease.

Staff Responsible: Roger Tinklenberg

Staff Presenting:   Roger Tinklenberg

Financial Impact: This will lower the City's annual expenditures.

Funding Source: N.A.

Recommended Council Motion:  I move approval of Resolution 2013-25