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<br />,,~ <br />~ <br /> <br />~ <br /> <br />o <br /> <br />CGM:mf 5/12/81 <br /> <br />ORIGINAL <br /> <br />RES 0 L UTI 0 N N O. <br /> <br />8860 <br /> <br />JUN <br /> <br />1 ]981 <br /> <br />RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF <br />LOAN AGREEMENT WITH THE CALIFORNIA ENERGY COMMISSION <br />FOR STREET LIGHT CONVERSION LOAN <br /> <br />WHEREAS, pursuant to Resolution No. 8808, adopted March 9, 1981, <br /> <br />this Council authorized application to the California Energy Commission <br /> <br />for a street light conversion loan; and <br /> <br />WHEREAS, the California Energy Commission has informed the City <br /> <br />that its application has been approved and has submitted a loan <br /> <br />agreement and promissory note to the City for execution by the <br /> <br />City Manager; and <br /> <br />WHEREAS, this Council has been advised that repayment of such <br /> <br />loan will be made by the City from the significant savings that it <br /> <br />will realize from the conversion of high energy mercury vapor and <br /> <br />incandescent street lights to sodium vapor lights; <br /> <br />NOW, THEREFORE; <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY, <br /> <br />AS FOLLOWS: <br /> <br />That certain agreement entitled "Energy Conservation Assistance <br /> <br />Loan Agreement" (Loan No: 144-000) with attached promissory note, <br /> <br />by and between the City of Redwood City and the California Energy ~ <br /> <br />Commission, a copy of which agreement is on file in the office <br /> <br />of the City Clerk for full particulars thereof, is hereby approved, <br /> <br />and the City Manager is hereby authorized to execute said agreement <br /> <br />and promissory note on behalf of the City of Redwood City. <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />8860 <br />