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HomeMy WebLinkAbout14-028 - Resolutions RESOLUTION NO. FD 14-028 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE RANCHO CUCAMONGA FIRE PROTECTION DISTRICT AUTHORIZING REIMBURSEMENT FOR COSTS RELATED TO SANBAG'S PHASE II JOINT SOLAR PROCUREMENT THROUGH ITS PARTICIPATION IN CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY (CSCDA) FINANCING PROGRAM WHEREAS, the City of Rancho Cucamonga is a member agency of the San Bernardino Associated Governments (SANBAG) that serves as the County's Council of Governments (COG) and has undertaken a number of regional efforts to reduce greenhouse gas emissions in San Bernardino County; and WHEREAS, the Fire Protection District is participating in the Joint Solar Power Procurement project led by SANBAG for the opportunity to collectively purchase solar photovoltaic systems and receive competitive pricing by taking advantage of economies of scale; and WHEREAS, a Solar Feasibility Analysis and Report was completed and demonstrates that two Fire facilities - Banyan and Day Creek fire stations - would benefit with solar installation through the Joint Solar Power Procurement; and WHEREAS, SANBAG is working with the California Statewide Communities Development Authority (CSCDA) organization, in order to assist the City in financing the solar improvements; and WHEREAS, CSCDA is a Joint Powers Authority and was formed to help public agencies by serving as a conduit bond issuer and providing access to capital; and WHEREAS, the Fire Protection District (the 'Borrower") has or may make certain expenditures in connection with Joint Solar Power Procurement (the "Project"), prior to the date of this Resolution, and the Borrower expects to make additional expenditures for the Project in the future; and NOW, THEREFORE, the Board Of Directors of the Rancho Cucamonga Fire Protection District of Rancho Cucamonga, hereby resolves that the Borrower intends to reimburse itself for all or a portion of such expenditures, to the extent permitted by law, with the proceeds of bonds or other obligations to be issued by a political subdivision or other governmental entity for the benefit of the Borrower(the "Bonds"). BE IT FURTHER RESOLVED that the maximum principal amount of the Bonds expected to be issued for the project are $490,553.00 for the Fire District. Resolution No. FD 14-028 - Page 1 of 2 PASSED, APPROVED, AND ADOPTED this 2nd day of July 2014. AYES: Alexander, Michael, Spagnolo, Steinorth, Williams NOES: None ABSENT: None ABSTAINED: None 1 61Z 9 n is Michael, Pre dent ATTEST: "z A . nice C. Reynolds, 5ecrefary I, JANICE C. REYNOLDS, SECRETARY of the Rancho Cucamonga Fire Protection District, do hereby certify that the foregoing Resolution was duly passed, approved, and adopted by the Board of Directors of the Rancho Cucamonga Fire Protection District, at a Regular Meeting of said Board held on the 2nd day of July 2014. Executed this 3`d day of July 2014 at Rancho Cucamonga, California. v o� (J nice C. Reynolds, Secrefary Resolution No. FD 14-028 - Page 2 of 2