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County authorizes tax-free lease and SmartWatt agreement to fund energy-efficiency upgrades
Summary
At a June 23 special meeting Franklin County authorized a tax-exempt equipment lease purchase (estimated project cost up to $2,000,000) and empowered the County Manager to sign a Measurement & Verification and Support Services Agreement with SmartWatt Energy, Inc., to implement energy-efficiency projects.
Franklin County authorized financing and implementation of energy-efficiency projects to be executed by SmartWatt Energy.
At a Special Meeting on June 23 the Finance Committee offered Resolution No. 171 authorizing the County Treasurer to execute a tax-free equipment lease purchase agreement (estimated project cost up to $2,000,000) and related escrow and lease documents in order to finance energy-efficiency improvements identified under a Master Agreement with National Grid. The resolution also authorizes the County Manager to enter into a Measurement & Verification and Support Services Agreement with SmartWatt Energy, Inc., to document guaranteed energy savings.
The County Treasurer and other county officers were authorized to take actions necessary to effectuate the lease and the Measurement & Verification agreement. The motion carried unanimously and the special meeting adjourned at 11:11 A.M.
