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HomeMy WebLinkAbout20986 2015013410 Received: 3/6/2015 3:45:22 PM4OTgg (/' Recorded: 03/06/2015 03:52:00 PM Filed & �. tip "�= CO Recorded in Official Records of Larry Crane. g, !• PULASKI COUNTY CIRCUIT/COUNTY CLERK �� 1 Fees 2b1 DINANCE NO. 20,986 c '" ,� 2 4k1 C01101'00`'N 3 AN ORDINANCE TO CREATE A PROPERTY ASSESSED CLEAN '', ' 4 ENERGY (PACE) ACT IMPROVEMENT DISTRICT NAMED THE 5 LITTLE ROCK ENERGY IMPROVEMENT DISTRICT; TO 6 FACILITATE A PACE PROGRAM; AND FOR OTHER PURPOSES. 7 8 WHEREAS, pursuant to the authority granted by Arkansas Code §8-15-101 et seq. (the "Property 9 Assessed Clean Energy Act"), the City of Little Rock ("the City") may create an Energy Improvement 10 District,either solely or in combination with one or more other governmental entities; and, 11 WHEREAS, such a district,once created,has independent legal and financial authority, including the 12 authority to issue bonds;and, 13 WHEREAS, such districts were authorized to permit the creation and implementation of, among 14 other things, a Property Assessed Clean Energy(PACE) Program under which a real property owner may 15 finance an energy efficiency improvement, a renewable energy program, or a water conservation 16 improvement for their property on a voluntary basis, with loan repayment tied to collection of real 17 property taxes; and, 18 NOW, THEREFORE,BE IT ORDAINED BY THE BOARD OF DIRECTORS OF THE CITY 19 OF LITTLE ROCK,ARKANSAS: 20 Section 1. That the Little Rock Board of Directors hereby creates the "Little Rock Energy 21 Improvement District"as follows: 22 A. Establishment and Purpose. 23 There is hereby created the Little Rock Energy Improvement District ("District"), the 24 boundaries of which shall be the same as the municipal boundaries of the City of Little Rock, 25 Arkansas ("City"), provided that such boundaries may be hereafter extended through 26 participation by other governmental entities as provided by law. The District shall exercise 27 such authority and power as granted by the Property Assessed Clean Energy Act, Ark. Code. 28 Ann. et seq.with the boundaries of the District. 29 B. Board of Directors.Membership.Terms of Office. 30 (1) The District shall be governed by a board of directors (the "EID Board") consisting of 31 seven (7) members. One (1) member shall be the Mayor or the Mayor's designee. The 32 remaining six (6) members shall be qualified electors of the District nominated by the 33 Mayor and approved by majority vote of the City Board of Directors, each to serve a term [Page 1 of 31 1 of two(2)years. The remaining six(6) members of the EID Board shall be comprised of 2 qualified candidates having background, experience, and expertise in at least one of the 3 following areas. 4 • municipal finance,banking,and/or commercial lending; 5 • public accounting; 6 • real estate development and commercial construction; 7 • legal services; 8 • architecture and/or professional engineering; and, 9 • the advanced energy industry, including energy efficiency or "green building" 10 contracting and consultation. 11 The City Board of Directors shall give due consideration to candidates with connections to 12 or relations with local utility companies, lending or bonding institutions and relevant trade 13 and economic development groups and associations. 14 (2) Should additional governmental entities enter into an agreement with the City for 15 participation in the District,the composition and terms of members of the EID Board shall 16 be as agreed between the City and other participating and agreeing governmental entities. 17 C. Legal and Financial Independence. 18 In the operation of its business, the District is legally and financially independent of the City. No 19 debt entered into by the District shall ever be construed as an obligation of the City. No debt 20 entered into by the District shall ever be construed as an obligation of the City or any other 21 governmental entity which may participate in the District. Further, the City shall not, under any 22 circumstances, be responsible for any act or omission of the District or of any member of the EID 23 Board. 24 Section 2. Severability. In the event any portion of this ordinance is declared or adjudged to be 25 invalid or unconstitutional, such declaration or adjudication shall not affect the remaining portions of this 26 ordinance, which shall remain in full force and effect as if the portion so declared or adjudged invalid or 27 unconstitutional were not originally a part of this ordinance. 28 Section 3. Repealer. All ordinances and resolutions,and parts thereof,which are in conflict with any 29 provision of this ordinance are hereby repealed to the extent of such conflict. 30 PASSED: January 20,2015 31 ATTE APPROVE) 32 14/ 1l 33 �►_ / 34 san ley,City Clerk Mark Stodola,Mayor [Page 2 of 31 1 APPROVED AS TO LEGAL FORM: 2 4 Thomas M.Carpenter,city Aft i; ey 5 // 6 // 7 // 8 // 9 // 10 // 11 // 12 // 13 // 14 // 15 // 16 // 17 // 18 // 19 // 20 // 21 // 22 // 23 // 24 // 25 // 26 // 27 // 28 // 29 // 30 // 31 // 32 // 33 // 34 // 35 // ]Page 3 of 3]