HomeMy WebLinkAboutbocc.res.060.2009A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF PITKIN
COUNTY, COLORADO, SUBMITTING TO THE ELECTORATE AT THE ELECTION
TO BE HELD ON NOVEMBER 3, 2009, A FINANCIAL QUESTION FOR PITHIN
COUNTY ENERGY SMART LOCAL IMPROVEMENT DISTRICT ARISING UNDER
SECTION 20 OF ARTICLE X OF THE STATE CONSTITUTION
RESOLUTION NO. i ~O -2009
1. The County of Pitkin in the State of Colorado (the "County" and the "State,"
respectively) is a duly created political subdivision of the State, organized and operating as a
home rule county pursuant to the general statutes of the State and a county home rule charter (the
"Charter") adopted pursuant to the Colorado County Home Rule Powers Act.
2. The members of the Board of County Commissioners of the County (the `Board") have
been duly elected, chosen and qualified.
3. The Board has a debt proposal that requires voter approval pursuant to Section 20 of
Article X of the State Constitution and Article IX of the Charter, and it desires to submit such
proposal to the electorate at the general election to be held on November 3`d, 2009.
4. Pursuant to Part 6 of Article 20 of Title 30, Colorado Revised Statutes, as amended (the
"Act"), the CounYy is authorized to initiate a local improvement district for the purpose of
encouraging, accommodating, and financing Renewable Energy lmprovements and Energy
Efficiency Improvements (both as defined in the Act).
5. The County desires to encourage, accommodate and provide financing for Energy Efficiency
and Renewable Energy improvements ("EE/RE") in the County (the "ProjecY') and accordingly
espects to initiate a local improvement district to be known as Pitkin County Energy Smart Local
improvement District (the "District") pursuant to the Act for the purpose of acco~nplishing the
Project, including paying all costs necessary and incidenta] thereto.
6. Coal and natural gas are the principal sources of generation of commercial quantities of
electric energy for the power grid in the western United States, and home and business consumption
accounts for over 70% of the overall usage of electric energy.
7. Although new building codes can i~npact energy usage in new structures, there is a vast
quantity of existing structures with inany yea~s of remaining life before replacement, and these
structures are not very energy efficient by today's standards, nor do they have renewable energy
systems installed to provide for their electric energy needs
8. The continued increase in the costs of electricity and natural gas will have a financial impact
on home and business owners and the ability to invest in energy efficiency and renewable energy
will decrease this negative impact by allowing for decreased energy use.
9. If the United States hopes to create a sustainable energy future and limit the effects of
climate change as a result of fossil fuel emissions, the existing occupied building stock must he
retrofitted with energy efficiency materials and modalities, and significant progress towards
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provision of renewable electric energy, as well as renewable energy for water and space heating, for
use in these structures must take place.
10. Solving this problem will require creative ways of financing that will provide incentives for
property owners to seek to install EE/RE now rather than later.
I l. Many existing homeowners, and to a certain extent business property owners, are highly
leveraged on their properties currently. Even if there is equity available to further pledge for
financing for EE/RE, a declining-value housing market would keep property owners from taking
action, for fear of being unable to realize sufficient resale value for these improvements. Since the
average homeowner moves every 7-9 years, and the espected life of these improvements is 20 - 25
years, and the energy savings paybacks for at least some of these improvements will take around 20
- 25 years as well, these property owners are unlikely to undertake home equity financing that
extends from 20 to 30 years.
12. Pitkin County and other local governments in Colorado and elsewhere have attempted to be
creative in finding ways to make incentives for financing these improvements available now, and
have created legal mechanisms, via Colorado House Bill 08-1350, that allow solar, wind, and other
renewable energy and energy efficiency i~nprovements to be financed by local governments with a
repayment over 20 years through special assessments collected via the property tax collection
system. The responsibility for repayment remains with the property, so that the property owner does
not have to worry about covering the improvements costs in the resale price they get for the property.
The payment responsibility remains with the person who is getting tl~e benefit of the annual energy
costs savings.
13. Pitkin County and other local governments will be able to offer, in part, below-market-rate
financing through the creation of funding via issuance of tax-esempt bonds.
14. The District will be formed pursuant to a separate resolution of the Board to be adopted
pursuant to and in accordance with the provisions of the Act subsequent to the date of adoption of
this Resolution.
15. Funding the construction and acquisition of the Project requires the issuance of special
assessment bonds of the County and, pursuant to the requirements of the Act and Article X of
Section 20 of the Colorado Constitution, voter approval is required prior to the issuance of such
special assessment bonds.
16. The Board has therefore determined to submit a ballot issue at an election to be held on
November 3, 2009, and to set the title and content of the ballot issue to be submitted at the election
called by this Resolution.
17. Because the Act permits property to be included within the District subsequent to the initial
formation thereof by agreement of the owner of such property to such inclusion, it will not be
possible for the Board to determine the electors of the District as of the time of such election.
18. The County desires to retain the ability to advance funds far the payment of a portion of such
special assessment bonds and reimburse itself for such advances by collecting unpaid assessments as
provided in the Act.
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19. Pursuant to the Act, any ballot issue for any special assessment bonds which are secured by
such County advances must be submitted to all registered electors of the County; and
20. The County will seek to obtain municipal consent from each municipality in the County for
the properties within each municipality respectively to be eligible to become a part of the district and
to finance improveinents to said properties through the district, and therefore the Board finds it
appropriate to submit the ballot issue to all registered electors of the County; and
21. The Board has tl~erefore detennined to submit such ballot issue to all registered electors of
the County; and
22. Pursuant to Section 1-5-203(3), Colorado Revised Statutes, as amended (`C.R.S."), no later
than September 4, 2009, the order of the ballot and ballot content must be certified to the County
Clerk and Recorder (the "County Clerk").
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Pitkin
County, Colorado that:
1. An election shall be held on Tuesday, Noveinber 3, 2009, at which there shall be
submitted to the registered electors of the County a ballot issue regarding the issuance of special
assessment bonds (the `Ballot Issue"), which ballot issue shall be in substantially the form
attached hereto as Appendix A. Appendix A is hereby incorporated into this Resolution as if set
forth in full herein. Pursuant to Section 30-20-619(6), CR.S., the Board hereby orders that all
registered electors of the County shall be eligible to vote on the Ballot Issue.
2. The election shall be conducted as a coordinated election in accordance with articles 1 to
13 of title 1, C.R.S. (the "Uniform Election Code"). The costs of the election shall be paid by the
County; provided that the County may elect to reimburse itself for such cost from assessments
paid by property owners in the District as a portion of the Project in accordance with the Act.
3. The "Designated Election Official" shall be the County Clerk.
4. For purposes of C.R.S. 1-11-203.5, this Resolution shall serve to set the ballot title for the
ballot issue set forth herein, and the ballot ritle for such ballot issue shall be as set forth in
Appendix A hereto.
5. The County Clerk is hereby authorized and directed to proceed with any action necessary or
appropriate to effectuate the provisions of this Resolution and comply with the Uniform Election
Code, Section 20 of Article X of the Colorado Constitution ("TABOR") and other applicable
laws.
6. Pursuant to Section 1-5-205, C.R.S., a notice of the election including the date, hours,
polling places, and questions and issues submitted shall be published one time in The Aspen
Times Weekly and shall be posted in a conspicuous place at the County Clerk's office at least 10
days befare the date of the election and until after the election.
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7. The County Clerk shall provide the notice of election as required by TABOR and shall
ensure that the posting of financial notice required by Section 1-7-908, C.R.S., is inade on the
County's website.
8. The County Clerk and other County officials and employees are hereby authorized and
directed to take all action necessary or appropriate to effectuate the provisions of this Resolution.
9. All actions not inconsistent with the provisions of this Resolution heretofore taken by the
inembers of the Board and the officers and employees of the County and directed toward holding
the election for the purposes stated herein are hereby ratified, approved and confirmed.
10. All prior acts, orders or resolutions, or parts thereof, by the County in conflict with this
Resolution are hereby repealed, except that this repealer shall not be construed to revive any act,
order or resolution, or part thereof, heretofore repealed.
11. If any section, paragraph, clause, or provision of this Resolution or Ballot Issue shall for
any reason be held to be invalid or unenforceable, the invalidity or unenforceability of such
section, paragraph, clause or provision shall not affect any of the remaining sections, paragraphs,
clauses or provisions of this Resolurion or the Ballot Issue, as applicable, it being the intention
that the various parts hereof are severable.
12. This Resolution shall take effect immediately upon its final adoption.
INTRODUCED, FIRST READ, AND SET FOR PUBLIC HEARING ON AUGUST 12, 2009.
NOTICE OF PUBLIC HEARING PUBLISHED IN THE ASPEN TIMES WEEKLY ON
AUGUST 16, 2009.
ADOPTED AFTER F1NAL READING AND CONTINUED PUBLIC HEARING ON
SEPTEMBER 1, 2009.
PUBLISHED BY TITLE AND SHORT SUMMARY, AFTER ADOPTION, IN THE ASPEN
TIMF,~WEEKLY ON~EPTEMBER 13, 2009.
i ~. ~
A
By ~ ' _J
Jeanet~ Jones
;
Deput County Clerk '
APPROVED AS TO FORM:
~- -_ .------ --~~.
Joh~iy, Cou~ty Attorney
~
BOARD O COUNTY COMMISSIONERS
By: c~X,(~ ~
Patti Kay-Clapper, C air
Date: ~-/ - D ~
MANAGER APPROVAL
~-~ ~ ~ Cti ~z
Hilary Fle er, County Manager
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APPENDIX "A"
REFERENDUM 1A
COUNTY DEBT FOR ENERGY SMART LOCAL IMPROVEMENT DISTRICT AND
MULTIPLE FISCAL YEAR FINANCIAL OBLIGATION AUTHORIZATION
SHALL PITKIN COUNTY DEBT (FOR ITS ENERGY SMART LOCAL IMPROVEMENT
DISTRICT) BE INCR~ASED BY UP TO $7 MILLION, WITH A MAXIMUM REPAYMENT
COST OF UP TO $15.3 MILLION, WITH NO INCREASE IN ANY COUNTY TAX OR TAX
RATE, FOR THE PURPOSE OF FINANCING THE COSTS OF CONSTRUCTING,
ACQUIRING AND iNSTALLING RENEWABLE ENERGY AND ENERGY EFFICIENCY
IMPROVEMENTS AND EQUIPMENT FOR PROPERTY OWNERS THAT QUALIFY AND
AUREE TO BE INCLUDED 1N THE DISTRICT, INCLUDING BUT NOT LIMITED TO:
• ENERGY EFFICIENCY IMPROVEMENTS AND EQUIPMENT:
o UPGRADING INSULATION
o REPLACING INEFFICIENT HEATING AND COOLING SYSTEMS
o REPLACING INEFFICIENT LIGHTING SYSTEMS AND FIXTURES
o SEALING AIR LEAKAGES
• RENEWABLE ENERGY IMPROVEMENTS AND EQUIPMENT:
o SOLAR PHOTOVOLTAIC IMPROVEMENTS AND EQUIPMENT
o SOLAR THERMAL IMPROVEMENTS AND EQUIPMENT
o WIND ENERGY IMPROVEMENTS AND EQUIPMENT
AND ANY COSTS NECESSARY OR INCIDENTAL THERETO, INCLUDING WITHOUT
LIMITATION THE COST OF ESTABLISHING RESERVES TO SECURE THE PAYMENT
OF SUCH DEBT, BY THE ISSUANCE OF SPECIAL ASSESSMENT BONDS PAYABLE
FROM SPECIAL ASSESSMENTS IMPOSED AGAINST BENEFITED PROPERTIES
INCLUDED IN THE DISTRICT BY AGREEMENT OF THE OWNERS THEREOF, AND
FROM OTHER FUNDS THAT MAY BE LAWFULLY PLEDGED TO THE PAYMENT OF
SUCH BONDS, WHICH BONDS SHALL BEAR INTEREST AT NOT MOR~ THAN A
MAXIMUM NET EFFECTIVE INTEREST RATE OF 9%, SHALL BE SUBJECT TO
REDEMPTION, WITH OR WITHOUT PREMIUM, SHALL BE iSSUED, DATED, AND
SOLD AT SUCH TIME OR TIMES, AT SUCH PRICES (AT, ABOVE OR BELOW PAR)
AND IN SUCH MANNER, IN ONE OR MORE SERIES, AND SHALL CONTAIN SUCH
TERMS, NOT INCONSISTENT HEREWITH, AS THE BOARD OF COUNTY
COMMISSIONERS MAY DETERMINE;
AND SHALL THE COUNTY BE AUTHORIZED TO ENTER 1NT0 A MULTIPLE-FISCAL
YEAR OBLIGATION TO ADVANCE AMOUNTS FOR PAYMENT OF A PORTION OF
SUCH BONDS AND TO REIMBURSE ITSF,LF FOR SUCH ADVANCES BY COLLECTING
UNPAID ASSESSMENTS AS PROVIDED IN SECTION 30-20-619(2), COLORADO
REVISED STATUTES, AS AMENDED?
YES _ NO _
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