Title
A Resolution authorizing the Urban County Government to participate in the Kentucky Utilities (KU) Solar Share Program by purchasing twenty-four (24) solar capacity shares, at a cost not to exceed $19,176. [Div. of Environmental Services, Carey]
Summary
Authorization for approval to participate in the Kentucky Utilities (KU) Solar Share Program with the purchase of 24 solar shares at a cost of $799.00/share, with each share representing a share of solar capacity in LGE-KU’s solar farm, for a term of 25 years, for a total of $19,176.00 using Energy Improvement Funds. The cost reflects a one-time payment and shares May be transferred to another LFUCG account with KU in the event of early termination of service. Funds are Budgeted. (L0208-23) (Carey/Albright)
Budgetary Implications [select]: Yes
Advance Document Review:
Law: { Select Yes Evan P Thompson 2/4/2023
Risk Management: {Select Yes/No, Completed by [Official, Date]}
Fully Budgeted [select]: Yes
Account Number: 1116-313201-3099-71299
This Fiscal Year Impact: $ 19,176.00
Annual Impact: $
Project: EIF_PROJ
Activity: EIF
Budget Reference: 2022
Current Balance: $50,000
Body
BE IT RESOLVED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That the Lexington-Fayette Urban County Government be and hereby is authorized to participate in the Kentucky Utilities Solar Share Program by purchasing twenty-four (24) solar capacity shares.
Section 2 - That an amount, not to exceed the sum of $19,176.00, be and hereby is approved for payment to Kentucky Utilities Company from account # 1116-313201-3099-71299, pursuant to the terms of the Kentucky Utilities Solar Share Program.
Section 3 - That this Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
______________________________
MAYOR
ATTEST:
________________________________
CLERK OF URBAN COUNTY COUNCIL
0208-23:EPT:X:\Cases\ENVIROPOLICY\23-LE0001\LEG\00776346.DOCX