HomeMy Public PortalAbout031-2009 - Special Ordinance - Ameresco GES FinanceORDINANCE NO. 31-2009
A SPECIAL ORDINANCE AUTHORIZING THE CITY OF RICHMOND
TO ENTER INTO A MUNICIPAL LEASE AGREEMENT TO FINANCE A
GUARANTEED ENERGY SAVINGS CONTRACT
WHEREAS, Indiana Code 36-1-12.5 authorizes a Legislative Body to enter into a
Guaranteed Energy Savings Contract with Qualified Providers for the purposes of installation
and upgrades of energy savings and conservation measures;
WHEREAS, Indiana Code 36-1-12.5 also authorizes an Installment Payment Contract
(hereinafter "Municipal Tax Exempt Lease Agreement") in order to finance a Guaranteed Energy
Savings Contract;
WHEREAS, On May 4, 2009, Common Council authorized the City to enter into the
Guaranteed Energy Savings Contract (hereinafter "Contract Number 60-2009"), which Contract
was executed by the presiding Council member on May 4, 2009;
WHEREAS, On May 4, 2009, Common Council reviewed various bids submitted by
financing companies and awarded the bid to allow Bank of America, N.A. to provide financing
for the Guaranteed Energy Savings Contract;
WHEREAS, Common Council authorized the City Controller to lock in the terms of
Bank of America's bid to the City, which rate was locked on May 5, 2009;
WHEREAS, The proposed Municipal Tax Exempt Lease Agreement from Bank of
America, N.A. was submitted to the City for review of the form, terms, and provisions, and that
Agreement has been reviewed by the Controller's Office and the Law Department;
WHEREAS, The proposed Municipal Tax Exempt Lease Agreement is attached to this
Special Ordinance and has been designated for recordation purposes with the City Clerk's office
as Contract Number 77-2009; and
WHEREAS, Common Council and the Mayor of the City of Richmond approve of the
form, terms, and provisions of the Municipal Tax Exempt Lease Agreement, Contract Number
77-2009, with Bank of America, N.A.
NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF
RICHMOND, INDIANA that the Common Council of the City of Richmond hereby authorizes
the City of Richmond to enter into the Municipal Tax Exempt Lease Agreement, 77-2009, with
Bank of America, in order that the City may finance the Guaranteed Energy Savings Contract
previously executed on May 4, 2009.
NOW, THEREFORE, BE IT ALSO ORDAINED that the Common Council of the City of
Richmond approves of the form, terms, and provisions of the proposed Municipal Tax Exempt
Lease Agreement and the proposed separate Lease Schedules as provided in the Agreement,
which is hereby approved in substantially the forms presented at this meeting, with such
insertions, omissions and changes as shall be approved by the City Controller, the Mayor, or
members of the Common Council executing the same, the execution of such documents being
conclusive evidence of such approval.
NOW, THEREFORE, BE IT ALSO ORDAINED that the Common Council of the City of
Richmond authorizes the officers and employees of the City of Richmond to take all action
necessary or reasonably required to carry out the transactions contemplated under the Municipal
Tax Exempt Lease Agreement (including the execution and delivery of Acceptance Certificates
and any tax certificate and agreement, each with respect to the separate Lease Schedules, as
contemplated in the Agreement) and to take all action necessary in conformity therewith,
including, without limitation, the execution and delivery of any closing and other documents
required to be delivered in connection with the Agreement and each Lease Schedule.
NOW, THEREFORE, BE IT ALSO ORDAINED that the Common Council of the City of
Richmond understands that nothing contained in this Ordinance, the Agreement, any Lease
Schedule, nor any other instrument shall be construed with respect to the City of Richmond as
incurring a pecuniary liability or charge upon the general credit of the City of Richmond or
against its taxing power, nor shall the breach of any agreement contained in the Agreement or
any Lease Schedule, or any other instrument or document executed in connection therewith
impose any pecuniary liability upon the City of Richmond or any charge upon its general credit
or against its taxing power, except to the extent that the payments under each Lease Schedule are
special limited obligations of the City of Richmond as provided in such Lease Schedule.
NOW, THEREFORE, BE IT ALSO ORDAINED that the Common Council of the City of
Richmond designates the Mayor and the City Controller to act as authorized representatives of
the City for purposes of the Agreement and each Lease Schedule until such time as the Common
Council shall designate any other or different authorized representative for purposes of the
Agreement and each Lease Schedule.
NOW, THEREFORE, BE IT ALSO ORDAINED that the Common Council of the City of
Richmond authorizes the Common Council President to execute Contract Number 77-2009
as a duly authorized representative of the legislative body.
Passed and adopted by the Common Council of the City of Richmond this 18th day of
_May , 2009.
S/S Bruce Wissel
Bruce Wissel, President
Common Council of the City of Richmond
ATTEST: _S/S Karen Chasteen City Clerk
(Karen Chasteen)
Presented by me to the Mayor of the City of Richmond, Indiana, this _19th _ day of _May ,
2009, at 9:00 a.m.
S/S Karen Chasteen City Clerk
(Karen Chasteen)
Signed and Approved by me, Sarah L. Hutton, Mayor of the City of Richmond, Indiana, this
_19th day of _May , 2009, at 9:05 a.m.
S/S Sarah L. Hutton Mayor
(Sarah L. Hutton)
ATTEST: _S/S Karen Chasteen City Clerk
(Karen Chasteen)