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City Council <br />Meeting Minutes <br />August 2, 2016 <br />Page 6 of 15 <br />Council member Keany felt the expanded aquatic facility with indoor/outdoor use <br />addresses the outdoor aquatic center concern and allows for 12 months of use. <br />Mayor Muckle closed the public hearing. <br />City Attorney Light noted the number and letter of the ballot question noted in Ordinance <br />No. 1724 has still not been determined by the County Elections Division and will be <br />added to the ballot language when assigned. <br />MOTION: Council member Loo moved to approve Ordinance No. 1723, Series 2016, <br />seconded by Mayor Muckle. Roll Call Vote: 7-0. <br />MOTION: Council member Loo moved to approve Ordinance No. 1724, Series 2016, <br />seconded by Mayor Muckle. Roll Call Vote: 7-0 <br />SOLAR ENERGY CAPACITY COMMITMENT AGREEMENT WITH CLEAN ENERGY <br />COLLECTIVE AND RELATED LEASE PURCHASE AGREEMENT WITH ALPINE <br />BANK <br />RESOLUTION NO. 38, SERIES 2016 - A RESOLUTION APPROVING A CAPACITY <br />COMMITMENT AGREEMENT AND RELATED AGREEMENTS WITH CLEAN <br />ENERGY COLLECTIVE FOR SOLAR PRODUCTION CAPACITY TOTALING 400 <br />KILOWATTS <br />ORDINANCE NO. 1726, SERIES 2016 - AN ORDINANCE OF THE CITY OF <br />LOUISVILLE, COLORADO AUTHORIZING AND APPROVING A LEASE PURCHASE <br />FINANCING FOR SOLAR PANELS WITH ALPINE BANK AND, IN CONNECTION <br />THEREWITH, CERTAIN RELATED DOCUMENTS AND TRANSACTIONS - 1st <br />Reading — Set Public Hearing August 16, 2016 <br />Mayor Muckle called for a City Attorney introduction. <br />City Attorney Light introduced Ordinance No. 1726, Series 2016. <br />City Manager Fleming noted this was a follow up from a discussion at the last Council <br />meeting where staff was asked to bring forward a detailed proposal for consideration. <br />The packet contains a capacity commitment agreement; the City would purchase 400 <br />kilowatts of power from Clean Energy Collective in exchange for bill credits from Xcel <br />Energy as well as a combined lease/purchase agreement for an additional 198 kilowatts <br />of power. Panels would be leased in a Clean Energy facility in exchange for bill credits <br />and renewable energy credits. Assuming an interest rate of 4.75% interest rate on the <br />lease purchase for the first 5 years, there would be a break-even at slightly less than 10 <br />years. Over the life of the agreements savings generated would be about $280,000 <br />compared to continuing to purchase the same amount of electricity from Excel. The <br />figures assume energy costs continue at 2 percent annually based on US Energy <br />