HomeMy WebLinkAboutResolution 2016-0019CITY OF WHEAT RIDGE, COLORADO
RESOLUTION NO. 19
Series of 2016
TITLE: A RESOLUTION AMENDING THE FISCAL YEAR 2015 GENERAL FUND
BUDGET TO REFLECT THE APPROVAL OF A SUPPLEMENTAL BUDGET
APPROPRIATION IN THE AMOUNT OF $846,765 FOR THE LEASE
PURCHASE OF SOLAR PANELS
WHEREAS, on April 13, 2015, the City Council approved a partnership with Clean
Energy Collective for the lease purchase of solar panels through Xcel Energy's Solar
Rewards Community program in Jefferson County; and
WHEREAS, the Wheat Ridge Charter requires that amendments to the budget be
effected by the City Council adopting a resolution; and
WHEREAS, the City received loan proceeds in the amount of $800,000; and
WHEREAS, the City received Solar reward credit payments totaling $50,507.75; and
WHEREAS, the requested funding is available in the fund balance.
NOW, THEREFORE, BE IT RESOLVED by the Wheat Ridge City Council, that:
Section 1. A transfer of $19,727 for debt service principal is hereby approved from the
General Fund budget undesignated reserves to account 01-610-900-901 .
Section 2. A transfer of $27,038 for debt service interest is hereby approved from the
General Fund budget undesignated reserves to account 01-610-900-902.
Section 3. A transfer of $23,372 for finance origination fees is hereby approved
from the General Fund budget undesignated reserves to account 01 -
610-900-903.
Section 4. A transfer of $776,628 for lease payment is hereby approved from the
General Fund budget undesignated reserves to account 01-610-900-904.
Section 5. Revenue in the amount of $50,508 for solar rewards credits is hereby
approved and revenue account #01 -580-00-585 is amended accordingly.
Section 6. Revenue in the amount of $800,000 for loan proceeds is hereby
approved and revenue account# 01 -580-00-586 is amended
accordingly.
DONE AND RESOLVED this 28th day of March 2016
ATTEST: