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Council OKs resolution allowing potential reimbursement for LeoPardo energy project; timeline puts equipment online in late summer
Summary
The council approved Resolution 2025-02 authorizing potential reimbursement of prior payments if the town issues bonds for the Leopardo energy savings project. Staff reported equipment ordered with an estimated in-service date in September and a potential $450,000 Investment Tax Credit application in early 2026.
The Speedway Town Council on Jan. 27 approved Resolution 2025-02, a reimbursement resolution tied to the Leopardo energy savings contract that would allow the town to use future bond proceeds to reimburse expenses already paid on the project if the town moves forward with financing.
Philip Faust, town court treasurer, said the measure does not obligate the town to issue bonds but signals intent and preserves…
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