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HomeMy WebLinkAboutR15-033 Solar Interest Purchase Agreement w GCASAII, LLC Commissioner Ll-e�c moved adoption of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO b RESOLUTION NO.2015- 2)-'7 RESOLUTION APPROVING AND AUTHORIZING SIGNATURE OF THE SOLAR INTEREST PURCHASE AGREEMENT AND RELATED PROJECT DOCUMENTS BETWEEN EAGLE COUNTY, COLORADO AND GCASA II,LLC AND IDENTIFYING SOURCES OF COUNTY FUNDS TO BE USED FOR THE PURCHASE WHEREAS,Eagle County Board of County Commissioners("Board")desires to enter into the Solar Interest Purchase Agreement with GCASA II,LLC("Company")in substantially the form attached hereto as Exhibit A(the"Agreement"); and WHEREAS,as part of the transaction with Company,the Board also desires to approve and execute the Clean Energy Collective Subscription Service Agreement substantially in the form attached hereto as Exhibit B (the"Subscription Service Agreement") for the purpose of tracking the output and benefits of this solar project; and WHEREAS,as part of the transaction the Board also desires to approve and execute the Consent to Disclose Utility Customer Data document substantially in the form attached as Exhibit C(the "Consent"); and WHERERAS, Company has constructed the Sunnyside Ranch Community Solar Array(the "Array")in Carbondale, Colorado and either directly or through its affiliates has established necessary agreements and processes that enable its customers to sell generated electricity to Holy Cross Energy in exchange for bill credits on its customers monthly utility bills; and WHEREAS, as part of the Agreement, Eagle County and certain related entities will purchase an interest in the form of Production Capability as defined in the Agreement in selected solar panels within the Array; and WHEREAS, as part of the Agreement, Eagle County and certain related entities have an option to purchase its selected solar panels after five(5)years; and WHEREAS,the purchase price for the Production Capability in the selected solar panels is three million five thousand one hundred nineteen dollars and ten cents ($3,005,119.10) (the"Purchase Price"); and WHEREAS,the Board desires to pay the Purchase Price from the following sources: (i) Two hundred sixty-three thousand four hundred thirty-seven dollars and six cents ($263,437.06) from the Eagle County Road and Bridge Fund representing three hundred two (302)panels in the Array or a system size of 92.110 KW; (ii) Two hundred five thousand three hundred nine dollars and fifty-five cents($205,309.55) from the Eco Transit Fund representing two hundred twenty(220)panels in the Array or a system size of 67.100 KW; (iii) Six hundred thirty-five thousand five hundred thirty-seven dollars and sixty-seven cents ($635,537.67) from Eagle County Landfill Fund representing six hundred sixty-five(665) panels in the Array or a system size of 202.83 KW; (iv) One million eighty-three thousand four hundred eleven dollars and sixty-two cents ($1,083,411.62) from Eagle County General Fund representing one thousand ninety-two (1092)panels or a system size of 333.060 KW; (v) One hundred eighty thousand four hundred seventy-two dollars and two cents ($180,472.02) from Eagle County Airport which includes the ARFF representing two hundred eighty-two(282)panels or a system size of 86.01KW; and (vi) Four hundred ten thousand nine hundred seventy-four dollars and eighteen cents ($410,974.18) from Eagle County Air Terminal Corporation("ECAT")representing four hundred forty-six(446)panels or system size of 136.030 KW; and (vii) Two hundred twenty-five thousand nine hundred seventy-seven dollars($225,977) from Lake Creek Village,LLC representing two hundred seventy-two (272)panels or a system size of 82.960 KW; and WHEREAS,each of the above referenced entities or Eagle County departments will receive bill credits on their Holy Cross Energy utility bills through the Agreement based upon panels allocated to each entity and Eagle County departments; and WHEREAS,the Eagle County Landfill Fund and ECO Transit Fund are enterprise funds and ECAT is an enterprise and each such entity and department/fund is purchasing Production Capability and related bill credits and nothing herein shall be deemed to be a grant; and WHEREAS, the funds identified from ECAT shall be separately approved by the ECAT board and will be paid from ECAT's Capital Fund. The Board must consent to the use of the Capital Fund pursuant to the terms of ECAT's Trust Indenture dated as of June 1, 1996 between the Corporation and Wells Fargo Bank,National Association(the successor trustee to U.S. Bank National Association), as subsequently amended and supplemented; and WHEREAS, the funds identified from Lake Creek Village, LLC shall be separately approved by its sole member, Eagle County Housing and Development Authority; and NOW,THEREFORE BE IT RESOLVED by the Board of County Commissioners of the County of Eagle, State of Colorado: THAT,the Board hereby approves and authorizes any of the Commissioners to sign the Agreement, Subscription Service Agreement and Consent in a form approved by the Eagle County Attorney's Office and substantially in the form of Exhibit A, Exhibit B, and Exhibit C and such other documents as may be required by Company or Holy Cross Energy and in a form acceptable to the Eagle County Attorney's Office; and • THAT, the Board hereby approves the payment of the Purchase Price as set forth above and expressly consents to the application by ECAT of the Capital Fund amount for such purposes; and THAT,the Board of County Commissioners finds, determines and declares that this Resolution is necessary for the public health, safety and welfare of the citizens of Eagle County, State of Colorado. MOVED AND ADOPTED by the Board yof County Commissioners of the County of Eagle, �U State of Colorado, at its regular meeting held the day of /119 L ,2015. COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its 0 m'".co. BOARD OF COUNTY COMMISSIONERS ATTEST: 11,11AL • S f W o %'acoat°° By: � (G/ �'(th- Clerk to theBoard of Kathy 1.ndler-Henr Y �, Y County Commissioners Chairman J e McQueeney mmis 'oner Ji • .n H. Ryan ommissioner Commissioner IA/Nt. QUlutc_.4v__•—t seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner Chandler-Henry 141-1,,, u Commissioner McQueeney N Commissioner Ryan 14—N '^ .5/1) This resolution passed by vote of the Board of County Commissioners of the County of Eagle, State of Colorado C15-514 – GCASAII For access to this file, please complete the attached Open Records Request Form and return to Eagle County Attorney’s Office Eagle County Public Records Request Form The following request is made under the Colorado Open Records Statute Printed Name: ______________________________________________________________________________ Organization represented (if any): _______________________________________________________________ Address: (mailing)__________________________________________________________________________ Phone number: _________________________________ Email: _______________________________ Inspection prior to requesting copies: YES / NO Request for copies in lieu of inspection: YES / NO Name or identification of record(s) requested: ____________________________________________________ __________________________________________________________________________________________ __________________________________________________________________________________________ If the record name is unknown, provide a brief, but specific description of the document or information requested (include date of issuance and location of document or information, if known). 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