CCR1988223COMMON COUNCIL - CITY OF MUSKEG0
RESOLUTION /1223-8a
APPROVAL OF METHOD OF FINANCING
(SMART MONEY)
WHEREAS, Resolution #218-88, Awarding of Bid for Smart Money
Program, as amended, authorized the submittal of the Enerdyne
Company for rebate analysis, and
Corp. bid for the Smart Money Program to Wisconsin Electric Power
WHEREAS, Wisconsin Electric Power Company offers two methods of
recouping cost savings on this energy saving program:
1. Rebate on cost of contract.
2. Interest-free loan for the cost of contract.
WEREAS, the Finance Committee has recommended that Option 2
be approved.
NOW, THEREFORE, BE IT RESOLVED that the Common Council of the
City of Muskego, upon the recommendation of the Finance
Committee, does hereby approve Option 2 as the method of
financing the City will use to implemem Smart Money Program.
BE IT FURTHER RESOLVED that the Common Council of the City of
Muskego, upon the recommendation of the Finance Committee, does
hereby accept the bid of Enerdyne Corp for the Smart Money
Program, and hereby authorizes the Mayor and Clerk to sign the
necessary documents in the name of the City.
DATED THIS 25th DAY OF Olrtnher , 1988.
0
FINANCE COMMITTEE
ALd. Mitchel Penovich
Ald. Edwin P. Dumke
ALd. Daniel J. Hilt
ATTEST :
City Clerk
SMART MONEY PROGRAM
ENERDYNE CORP *
OPTION 1 OPTION 2
PROJECT INTEREST FKEE
COST REBAT E LOAN
City Hall/Library $24,298 $6,289 $23,140
Garage 4,367 1,216 4,367
Police Station 9,350 2,396 8,985
$38,015 $9,901 $36,492
Total Initial Cost to City - Option 1 --- $28,114
Total Initial Cost to City - Option 2 --- $1 ,523