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Agenda - 12-11-2008 - 3a
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Agenda - 12-11-2008 - 3a
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11/10/2010 11:59:22 AM
Creation date
12/9/2008 2:52:44 PM
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BOCC
Date
12/11/2008
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
3a
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Minutes - 20081211
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\Board of County Commissioners\Minutes - Approved\2000's\2008
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63 <br />may become available that are associated with the operation of the LFG Project. The Parties <br />recognize that during the Term of this Agreement, new Laws, guidance, voluntary standards or <br />comparable directives may be issued that clarify the respective valuation protocols for various <br />Environmental Benefits associated with the LFG Project. <br />126. In consultation with the County, the University sh,,,~on an ongoing basis, <br />determine if the categorization of Environmental Benefits asso~~ia~ed with the LFG Project in <br />~~~, <br />~~~ ~~: <br />ways other than as Carbon Credits would result in additic5 reven~c ` to,the County without <br />,{ J <br />compromising either the University's ability to derive environmental ' ~ enefit through the <br />G Pro ect <br />generation of Garbon Credits or its achievement of other objectives for thy, j , <br />including in particular as it relates to the University's commitment under the .American College <br />,~~;~~ <br />and University Presidents Climate Ctment. ~ Lf such alternative categorization of <br />t~v5, Yin <br />4~tA S z ~ s .~,1''I`.. <br />Environmental Benefits would result in ~ a gr~et~ater` overall value to the University and a greater <br />a ent to the Coup than the Coun Auld cei e i~the Environmental Benefits were <br />overall p ym ty ty u~ ~, <br />solely categorized as Carbon Credits, and the Ur`u~ersity decides in a given month, in its sole <br />discretion, to monetize a portion or all of the Envi onmental Benefits in a manner other than as <br />~` ~q~~ <br />Carbon,. ~rredxts, the ~;p~ersity shall pay to the County fifty percent (50 /o) of the proceeds <br />,~ ~ '~~~ <br />resutm ~n such moneta~at~on net of any costs the University incurs both in monetizing the <br />-,..1.,~ x, ~. <br />}J <br />Environmental ~3iefits and placing Carbon Credits that would otherwise have been generated <br />by the operation of e*~: F.~~~TProject, if any, but for the University's decision to monetize ano er <br />.li <br />type of Environmen ''Benefit. Provided, however, that nothing in this Agreement shall obligate <br />the County to incur all or any portion of any costs that exceed any surplus proceeds resulting <br />from the monetization of any Environmental Benefits. In the event the University generates a <br />surplus in any month, it shall provide an accounting of the surplus revenue thus generated in the <br />40 <br />{00018638.DOC 16} <br />
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