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Council approves borrowing parameters for solar project after consultant says domestic-content choice yields net savings
Summary
Council approved financing parameters for a solar array at the wastewater treatment plant using the Rural Water Financing Agency. Consultant said opting for domestic-content components raised the not-to-exceed borrowing number but produced a net savings from tax credits; council approved the ordinance by roll call, 7-1.
The borough council voted to approve borrowing parameters to finance a solar project at the wastewater treatment plant, adopting an ordinance that authorizes the borough to use the Rural Water Financing Agency for the loan.
The motion, read into the record by a council member, described parameters that would "outline the financing of the solar project at the wastewater treatment plant via the Rural Water Financing Agency." No individual mover or seconder was recorded in the minutes excerpt.
Mike Fakagan of Raymond James, the financing consultant, told the…
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