CITY OF HOMER

HOMER, ALASKA

Roberts

RESOLUTION 10-44

A RESOLUTION OF THE CITY COUNCIL OF HOMER, ALASKA, APPROVING AND ADOPTING POLICIES AND PROCEDURES FOR THE REVOLVING ENERGY FUND.

WHEREAS, The Homer City Council recently approved Ordinance 10-14 which enacted and codified HCC 3.14 entitled “Revolving Energy Fund” and appropriated $315,000 from various depreciation accounts in order to provide start-up funds; and

WHEREAS, The City will receive $227,800 in Energy Efficiency and Conservation Block Grant funds which will be used for the same purposes authorized in HCC 3.14; and

WHEREAS, Section 3.14.060 provides that the Revolving Energy Fund regulations, policies, and procedures shall be adopted by resolution; and

WHEREAS, Policies and Procedures must be adopted by the Council before the Administration can proceed with implementation of the program.

NOW, THEREFORE, BE IT RESOLVED that the Homer City Council has reviewed the proposed policies and procedures; a copy of which is attached and incorporated herein, and finds them to be in the best interest of the Revolving Energy Fund Program; and

BE IT FURTHER RESOLVED that the Council hereby approves and adopts the attached Revolving Energy Fund Policies and Procedures and authorizes the City Manager to implement the program.

PASSED AND ADOPTED by the Homer City Council this 10^th day of May, 2010.

CITY OF HOMER

____________________________________

BETH WYTHE, MAYOR PRO TEMPORE

ATTEST:

______________________________

JO JOHNSON, CMC, CITY CLERK

Fiscal Note: Expenditure of REF Funds / Amount to be determined later by Council.