Meetings / Jul 13, 2016 / Item 70

Item 70

approved nomination

Jul 13, 2016

Description

TABLED – The Governor and Council on motion of Councilor Wheeler, seconded by Councilor Pappas, voted to table the request of the State Treasurer, acting on behalf of the Department of Resources and Economic Development, to enter into a Master Lease/Purchase agreement with Pinnacle Public Finance, in an amount not to exceed total construction costs financed of $4,986,637 plus interest of $920,875 for a total of $5,907,512 and to enter into an Escrow agreement dated as of June 30, 2016 by and among the State, Pinnacle Public Finance, and Bank of New York Mellon, as escrow agent, with such authorization effective upon G&C approval. (2)Further authorized to encumber funds for repayment to Pinnacle Public Finance for the payment of construction financing of a contract with Ameresco Inc., to install energy and fossil fuel energy conservation measures at Cannon Mountain Ski Area.

Amount

$5.9M

$4,986,637, $920,875, $5,907,512

Department

DEPARTMENT OF ADMINISTRATIVE SERVICES

Division of Family Assistance

Vendor

Pinnacle Public Finance, in an amount not to exceed total construction costs financed of $4,986,637 plus interest of $920,875 for a total of $5,907,512 and to enter into an Escrow agreement dated as of June 30, 2016 by and among the State, Pinnacle Public Finance

and Bank of New York Mellon, as

Vote Record approved

Motion by Kenney, seconded by Pappas and with Councilor Sununu recusing himself and Councilor Wheeler voting no

Joseph Kenney (R) yes

Colin Van Ostern (D) yes

Christopher Sununu (R) no

Christopher Pappas (D) yes

Dave Wheeler (R) no

Dissenting: Sununu recusing himself, Wheeler

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