City of Baltimore - File #: 17-0112

• File #: 17-0112
• Version: 0
• Name: Assignment of Qualified Energy Conservation Bond Allocation
• Type: Mayor and City Council Res.
• Status: Enacted
• File created: 8/14/2017
• In control: City Council
• Final action: 10/2/2017
• Enactment #: 17-04
• Title: Assignment of Qualified Energy Conservation Bond Allocation For the purpose of assigning the Mayor and City Council of Baltimore’s allocation of the national bond volume cap for qualified energy conservation bonds to the Maryland Clean Energy Center to finance solar electric projects for low-income residences located in the City; and setting a special effective date.
• Sponsors: City Council President (Administration)
• Indexes: Assignments, Bonds, Conservation, Energy

Date	Ver.	Action By	Action	Result
10/16/2017	0	Mayor	Signed by Mayor
9/25/2017	0	City Council	Approved and Sent to the Mayor
9/18/2017	0	City Council	3rd Reader, for final passage
9/18/2017	0	Judiciary and Legislative Investigations	Recommended Favorably with Amendment
9/12/2017	0	Judiciary and Legislative Investigations	Recommended Favorably with Amendment	Pass
9/11/2017	0	Judiciary and Legislative Investigations	Scheduled for a Public Hearing
8/17/2017	0	The City Council	Refer to Office of Sustainability
8/17/2017	0	The City Council	Refer to Dept. of Housing and Community Development
8/17/2017	0	The City Council	Refer to City Solicitor
8/14/2017	0	City Council	Assigned
8/14/2017	0	City Council	Introduced

* Warning: This is an unofficial, introductory copy of the bill.
The official copy considered by the City Council is the first reader copy.
Introductory*

City of Baltimore
Council Bill

Introduced by: The Council President
At the request of: The Administration (Department of Housing and Community Development)

A Resolution Entitled

A Resolution of the Mayor and City Council concerning
title
Assignment of Qualified Energy Conservation Bond Allocation
For the purpose of assigning the Mayor and City Council of Baltimore’s allocation of the national bond volume cap for qualified energy conservation bonds to the Maryland Clean Energy Center to finance solar electric projects for low-income residences located in the City; and setting a special effective date.
body

Recitals

Pursuant to § 54D of the Internal Revenue Code of 1986, as amended (the “Code”), and related guidance from the Internal Revenue Service, including, but not limited to, Notices 2009-29, 2010-35 and 2012-44, states, local governments, and other eligible conduit issuers have been authorized to issue qualified energy conservation bonds (“QECBs”) to finance qualified conservation purposes in amounts not in excess of certain volume caps allocated among states and large local governments located therein.

The Mayor and City Council of Baltimore (the “City”) has received an allocation of the national bond volume cap for qualified energy conservation bonds in the aggregate amount of $6,659,180.

The City will reallocate $4,961,492 of the City’s national bond volume cap for qualified energy conservation bonds (the “Allocation”) to the Maryland Clean Energy Center (“MCEC”), or to any borrower selected by MCEC to be the beneficiary of a QECB issuance, in each case for use in the financing of solar electric generation systems on low...