Board of Supervisors - Resolutions

Supervisor ARGOTSINGER offered the following Resolution and moved its adoption:

 

RESOLUTION AUTHORIZING THE TREASURER TO REFINANCE EXISTING LEASE-PURCHASE AGREEMENTS WITH MUNICIPAL LEASING CONSULTANTS, INC. RELATED TO SMARTWATT ENERGY PERFORMANCE CONTRACTS IN 2014 AND 2015

 

WHEREAS, Resolution 151 of 2014 authorized an Energy Performance contract with Smartwatt Energy, Inc. for Energy Conservation Projects at County Facilities and a lease-purchase agreement in the amount of $1,218,905.71 at an interest rate of 3.16 percent; and

WHEREAS, Resolution 43 of 2015 authorized an Energy Performance contract with Smartwatt Energy, Inc. for a Heating Boiler and Domestic Hot Water System Replacement Project at the Correctional Facility and a lease-purchase agreement in the amount of $244,089.46 at an interest rate of 3.16 percent; and

WHEREAS, the County Treasurer recommends refinancing both said lease agreements to take advantage of available lower rates at a new proposed interest rate of 2.07 percent that will result in an estimated savings of $32,932.64; now, therefore be it

RESOLVED, That upon the recommendation of the County Treasurer and Committee on Finance, the Chairman of the Board be and hereby is authorized to execute a new lease-purchase agreement with Municipal Leasing Consultants, Inc. for an 8 year lease term at an interest rate of 2.07 percent, subject to the approval of the County Treasurer; lease payment to be budgeted annually in the County’s operating budget; and, be it further

RESOLVED, That the Municipal Lease Agreement is subject to approval of the County Attorney; and, be it further

RESOLVED, That certified copies of this Resolution be forwarded to the County Treasurer, County Attorney, Budget Director/County Auditor and Administrative Officer/Clerk of the Board.

 

 

 

 

 

Seconded by BOWMAN and adopted by the following vote:

TOTAL: Ayes: 17 Nays: 0 Absent: 3 (Supervisor Fagan, Potter and VanDenburgh)