4:30 p.m., Monday, January 25, 2016, Town Community Room, Hwy 15
Action: Hyde Park Solar, Waterhouse Project (“Waterhouse Solar”)
The purpose of this meeting is for the Board to authorize documents that allow for the issuance of Clean Energy Renewable Bonds (“CREBs”) in the amount of $3,094,000 to finance the development, design, permitting, bond issuance expense, land clearing and landscaping, interconnection and network upgrades, civil construction, solar equipment and construction in order for Waterhouse Solar to generate electricity to serve all Hyde Park Electric customers.
Updates:
• The Wetland Permit has been issued.
• The Governor and Treasurer’s Certificates are executed.
• The interest rate is reduced with the extension of the term to 25 years. The Board wishes to thank Union Bank for extending the term of the loan. CREBs and Union Bank now have the same term, which will give healthy savings to Hyde Park Electric ratepayers. With a January 22 calculation, the interest rate would be 1.0%. Using that interest rate, HPE ratepayers will save about $120,000 over projections provided in the filings for the CPG, which was 1.95%.
• Construction costs are reduced. At this time, we have received contract bids and the cost to build is now reduced about $170,000 when compared to the projections in the application to the Public Service Board for a Certificate of Public Good (“CPG”), which has been issued. A 10% contingency remains in the total bond amount listed above.
• Closing is scheduled for Monday, February 1, 2016.
AGENDA:
Call to Order
Agenda
Additions to the Agenda
Open Public Comments
Authorizations
Adjourn
Jan 12, 2025, 4 to 5:30 PM
Taize Service Moved to January 14Jan 14, 2025, 7 to 8 PM
Opening Reception with NKHS and Grace ArtistsJan 15, 2025, 1 to 3 PM