Communication from the City Manager and Chief Innovation Officer with a Request for the Following: A. APPROVE and AUTHORIZE the City Manager to Enter into an AGREEMENT with THE EFFICIENCY NETWORK (TEN), in the Amount of $2,066,963.00, for a STREETLIGHT UPGRADE PROJECT of the City-Owned Streetlight System to Reduce Annual Energy and Maintenance Costs Related to the System; B. APPROVE and AUTHORIZE the City Manager to Enter into a FINANCING AGREEMENT with Either INB, N.A. or MUNICIPAL LEASING CONSULTANTS (MLC), in an Amount not to Exceed $2,067,000.00, with a rate not to exceed 4.00% and a term not to exceed Fifteen (15) Years; C. ADOPT an ORDINANCE Amending the City of Peoria 2020 - 2021 BIENNIAL BUDGET Relating to the Capital Fund to Recognize the Cost to Implement the Streetlight Upgrade Project, in the Amount of $2,067,000.00, and the Corresponding Financing of the Project.

What this record is

Held by

Efficiency Network 2 records across this site

Amount

$2.07M

Runs until

no end date published in this record

Type

amendment

Field

Utilities & energy

Read automatically from the title of the official record. The source document below is authoritative.

Efficiency Network also holds

Communication from the City Manager with a Request to Authorize the City Manager to Enter into a LETTER of INTENT with THE EFFICIENCY NETWORK (TEN), i… $62K Peoria, IL

Committee

City Council

Requested by

City Manager

Introduced

June 9, 2020

On agenda

June 23, 2020

Passed

June 23, 2020