I. Council Action Requested.
Title
To adopt a Solar Array Reserve Policy.
Body
II. Basis for Council Action.
Council approval of this item is required because;
a. Pursuant to Article I, § 2 of the Charter “[t]he administration of all the fiscal, prudential and municipal affairs of said Town… shall be and are vested in one body of seven (7) members, which shall constitute and be called the Town Council”, and
b. Pursuant to Article III, § 2-10. of the Charter “[t]he Town Manager shall prepare an Administrative Code, submit it to the Council and be responsible for its administration after adoption by the Council”, and
c. The proposed policy governs the monies received from the sale of Renewable Energy Certificates (RECs) into a reserve fund to keep the solar array operational.
III. Issue Summary.
Please refer to the attached draft policy.