CITY OF HOMER

HOMER, ALASKA

Roberts

ORDINANCE 10-14

AN ORDINANCE OF THE CITY COUNCIL OF HOMER, ALASKA, ADOPTING HOMER CITY CODE CHAPTER 3.14, REVOLVING ENERGY FUND, AND AMENDING THE FY 2010 OPERATING BUDGET BY APPROPRIATING $315,691 FROM THIRTEEN FACILITY DEPRECIATION ACCOUNTS TO PROVIDE START-UP FUNDS.

            WHEREAS, The Homer City Council wishes to reduce carbon emissions and lower the City’s energy costs; and

            WHEREAS, The Council has adopted a Climate Action Plan (Resolution 07-106), a Money, Energy, and Sustainability Policy Guide (Resolution 09-07), and established a Sustainability Fund (Resolution 08-07(A); and

            WHEREAS, The Council commissioned a Climate Action Plan Implementation Project and received a final report in 2009; and

            WHEREAS, The Report recommends the creation of a Revolving Energy Fund to provide a long term source of funding for energy efficiency projects in City facilities and that seed money for the fund be provided by transferring assets from existing depreciation reserve accounts.

            NOW, THEREFORE, THE CITY OF HOMER ORDAINS:

Section 1.  Homer City Code Chapter 3.14, Revolving Energy Fund, is adopted and shall read as follows:

Chapter 3.14

Revolving Energy Fund

Sections:

            3.14.010          Revolving Energy Fund established.

            3.14.020          Purpose of the Fund.

            3.14.030          Initial Fund Contribution.

            3.14.040          Additions to the Fund.

            3.14.050          Fund Management.

            3.14.060          Program regulations, policies, and procedures.

3.14.010 Revolving Energy Fund established. There is hereby established the Homer Revolving Energy Fund. The Revolving Energy Fund shall be governed by this chapter.

3.14.020 Purpose of the Fund. The Revolving Energy Fund is established for the purpose of providing a stable and long term source of financing for projects which improve the energy efficiency of city buildings and facilities. Loans from the fund shall be repaid over time using the savings achieved through energy efficiency projects financed by the Fund.

3.14.030 Initial Fund Contribution.   The Fund shall be capitalized initially by a transfer of funds from thirteen different facility depreciation accounts. These depreciation funds will be used to increase energy efficiency and extend the useful life of the facilities.

3.14.040 Additions to the Fund.  Additions to the Revolving Energy Fund may be made by private contributions, grants, budget appropriations, or other methods approved by the Council.

3.14.050 Fund Management.  The Revolving Energy Fund shall be managed as a separate and segregated internal service fund. Investment earnings of the Fund shall be deposited into the Fund. The Fund shall be invested consistent with Homer City Code Chapter 3.10. Loans from the Fund to finance energy efficiency projects must be approved in advance by the Council by ordinance. Loans may not be made for facilities which do not have an approved Energy Conservation Plan.  Loans from the fund shall be repaid over time based upon the estimated energy cost savings for the project(s) projected in the Energy Conservation Plan. 

3.14.060 Program regulations, policies, and procedures.  The Revolving Energy Fund program regulations, policies, and procedures shall be adopted by resolution.

Section 2.  The FY 2010 Operating Budget is hereby amended by appropriating/transferring $315,691 from thirteen depreciations accounts to the revolving Energy Fund as follows:

REVENUE

Account Description Amount

620-375                                               Revolving Energy Fund                      $315,691

EXPENDITURE

Account Description Amount

Depreciation Reserves

156-370                                               Animal Shelter                                    $     250

156-375                                               General                                               $42,984

156-384                                               City Hall                                             $  2,063

156-385                                               Parks and Recreation                          $  1,018

156-388                                               Airport Terminal                                 $  1,652

156-390                                               Library                                                $  2,781

156-393                                               Fire                                                      $  3,855

156-394                                               Police                                                  $  5,095

156-395                                               Public Works                                      $         0

156-396                                               Leased Property                                  $   9,650

170-733                                               New City Hall                                   $ 19,773

256-378/379                                        Water / Sewer                                     $177,950

456-380                                               Port and Harbor                                   $ 48,620

                                                                                      TOTAL                    $315,691

Section 3.  This ordinance shall take effect upon its adoption by the Homer City Council.

Section 4.  Section 1 of this ordinance is of a permanent and general character and shall be included in the City Code.     

Section 5. Section 2 of this ordinance is a budget amendment only, is temporary in nature, and shall not be codified.

            ENACTED BY THE CITY COUNCIL OF HOMER, ALASKA, this ______ day of ________________, 2010.

                                                                                    CITY OF HOMER

                                                                                    _____________________________

                                                                                    JAMES C. HORNADAY, MAYOR

ATTEST:

______________________________

JO JOHNSON, CMC, CITY CLERK

YES:

NO:

ABSTAIN:

ABSENT:

First reading:

Public hearing:

Second reading:

Effective date:

Reviewed and approved as to form:

_______________________                                                  ____________________________

Walt Wrede, City Manager                                                    Thomas F. Klinkner, City Attorney

Date:   _________________                                                  Date:  _______________________

Fiscal Note: Included in ordinance.