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SALT LAKE CITY RESOLUTION
NO. 28 of 2018
A Resolution Requesting and Authorizing OED to Conduct the Commercial Property Assessed Clean Energy District (C-PACE District), within Salt Lake City (“City”)
RECITALS
A Resolution requesting and authorizing OED to conduct the Commercial Property Assessed Clean Energy District (C-PACE District), within Salt Lake City.
WHEREAS, Utah Code Section 63M-4-401 establishes the GOVERNOR’S OFFICE OF ENERGY DEVELOPMENT (OED), an independent body corporate and politic of the State of Utah, and Utah Code Section 11-42a-106 establishes the C-PACE District and provides for the creation of new energy improvement financing, which the District has named “C-PACE” or Commercial Property Assessed Clean Energy.
WHEREAS, pursuant to Utah Code Section 11-42a-106, OED may only “establish and administer” the C-PACE District in the Salt Lake City if the City Council of the City requests it do so.
WHEREAS, the City Council wishes to request and authorize OED to administer projects through the C-PACE District in Salt Lake City.
WHEREAS, OED and City have agreed on the terms of the C-PACE Local Entity Participation Agreement in the form attached hereto (the “Participation Agreement”).
NOW THEREFORE, be it resolved by the City Council of Salt Lake City, Utah as follows:
SECTION 1. OED is requested and shall be authorized to conduct the C-PACE District in Salt Lake City in accordance with the Participation Agreement.
The City Council hereby: (a) adopts the above recitations as findings of the City Council; (b) authorizes the City Attorney, in consultation with the Mayor or designee, to make such changes as may be needed to the Local Entity Participation Agreement in order to correct any nonmaterial errors or language that do not materially increase the obligations of the City; (c) authorizes the Mayor or designee to execute the Local Entity Participation Agreement following review and approval by the City Attorney; and (d) authorizes the Mayor or designee to execute any and all other necessary letters, orders, or documents as may be required to facilitate the successful implementation of the C-PACE District in Salt Lake City.
ADOPTED by the City Council of Salt Lake City, Utah on this 12th day of June, 2018.