1997-14 RESOLUTION NO. 97- 14
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GRAND
TERRACE, CALIFORNIA APPROVING CERTAIN ENERGY
CONSERVATION MEASURES AUTHORIZING THE EXECUTION OF
AGREEMENTS, SIGNATORIES AND MAKING OTHER
DETERMINATIONS IN CONNECTION THEREWITH.
WHEREAS, the City Council of the CITY OF GRAND TERRACE (the "City") is
authorized pursuant to Sections 4217.10 through 4217.18 of the California Government Code
(the "Act") to enter into energy conservation contracts pursuant to which the City may acquire
and finance equipment and services to reduce energy use or to make for a more efficient use of
energy; and
WHEREAS, pursuant to the Act, the City proposes to enter into an agreement with
Honeywell (the"Honeywell Contract"); and
WHEREAS, Municipal Leasing Associate, Inc. (the "Corporation") has offered to enter
into a Lease With Option to Purchase (the "Lease"), and an Escrow Agreement (the "Escrow
Agreement") with the City in order to provide lease financing (the "Financing") for the Project;
and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the CITY OF
GRAND TERRACE as follows:
SECTION 1. The City Council hereby finds, determines and declares as follows:
(a) The anticipated cost to the City for "Conservation Services" as defined in Section
4217.11(c) of the Act and as provided for by the Honeywell Contract, the Lease and the Project
will be less than the anticipated marginal cost to the City of energy that would have been
consumed by the City in the absence of the Project.
(b) To the extent that the Honeywell Contract and/or the Lease grant easements,
rights-of-way, licenses, rights-of-access, or other rights in the real property of the City upon
which the Project will be constructed and installed, the difference, if any, between the fair rental
value of such rights, is anticipated to be offset by benefits provided to the City under the
Honeywell Contract and the Lease.
(c) Funds for the payment of amounts due under the Lease are projected to be
available from funding which otherwise would have been used for the purchase of energy required
by the City in the absence of the Project.
PASSED, APPROVED AND ADOPTED this 26th day of June, 1997.
ATTEST:
City Clerk of the City of Grarfd Terrace and City uncil of the Cifytof Giand Terrace
of the City Council thereof
I, Brenda Stanfill, City Clerk of the City of Grand Terrace, do hereby certify that the
foregoing Resolution was introduced and adopted at a regular meeting of the City Council of the
City of Grand Terrace held on the 26th day of June, 1997, by the following vote:
AYES: Councilmembers Hilkey and Singley; Mayor Pro Tem Buchanan;
Mayor Matteson
NOES: None
ABSENT: None
ABSTAIN: Councilmember Garcia
Approved as to form:
jaw
City Attorney City Clerk