§ 21-33-4-2 — Proposals; contracts; bonds

A state educational institution may submit a
request for proposals to qualified providers for an energy cost savings
contract and may enter into an energy cost savings contract with a
qualified provider under this chapter. The contract must provide that
all payments, except obligations on termination of the contract before
its expiration, are to be made over time. The contract may provide that
energy cost savings are guaranteed by the qualified provider to the
extent necessary to make payments for the qualified energy savings
project. A qualified provider shall provide a sufficient bond to the state
educational institution for the installation and the faithful performance
of all the measures included in the contract. The contract may also
include contracts for building operation programs and maintenance and
management or similar agreements with the qualified provider to
reduce energy or operational costs.
[Pre-2007 Higher Education Recodification Citation:
20-12-5.5-7(e).]

Legislative History

As added by P.L.2-2007, SEC.274.