Title
A Resolution authorizing the Urban County Government to participate in the Ky. Utilities Co. Solar Share Program by purchasing sixty (60) solar capacity shares, at a cost not to exceed $47,940. [Div. of Environmental Services, Carey]
Summary
Authorization to participate in the Kentucky Utilities (KU) Solar Share Program with the purchase of 60 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 $47,940.00. 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. (L0341-24) (Carey/Albright)
Budgetary Implications [select]: Yes
Advance Document Review:
Law: { Select Yes Completed by Michael Cravens 3/25/2024
Risk Management: {Select Yes/No, Completed by [Official, Date]}
Fully Budgeted [select]: Yes
Account Number: 1101-313201-3094-75101
This Fiscal Year Impact: $47,940.00
Annual Impact: $
Project:
Activity:
Budget Reference:
Current Balance: $75,625.98
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 sixty (60) solar capacity shares.
Section 2 - That an amount, not to exceed the sum of $47,940.00, be and hereby is approved for payment to Kentucky Utilities Company from account # 1101 - 313201 - 75101, 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
0341-24:MSC:4886-3032-1842, v. 1