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Agreements with Sierra Pacific Electrical and SCE <br />to Provide, Install, and Fund LED Street Lights <br />January 22, 2013 <br />Page 3 <br />ENVIRONMENTAL IMPACT <br />Installation of the LED street lights will reduce the city's carbon footprint by approximately 659 <br />metric tons of CO2, which is the equivalent of removing 137 passenger vehicles from the road. <br />FISCAL IMPACT <br />Loan Proceeds received through the SCE On-Bill Financing Program will be deposited into the <br />Energy Conservation revenue account (16217002-57384) and appropriated into the Energy <br />Conservation expenditure account (16217630-62300). Loan repayments are available in Account <br />01117630-62000. Funds for the City's share of $18,000 that does not meet SCE funding criteria <br />are available in Account 01117630-62300. <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />w <br />r^- <br />Raul Godinez II <br />Executive Director/ <br />Public Works Agency <br />RG/KW <br />1 <br />Francisco Gutie <br />Executive Director/ 00, <br />Finance & Management Services Agency <br />Exhibits: 1. Agreement with Sierra Pacific Electrical Contracting <br />2. On-Bill Financing Agreement with Southern California Edison <br />3. On-Bill Financing and Incentives Summary <br />20D-3