§ 4-13.6-8-7 — Contract approval and guarantee

Indiana § 4-13.6-8-7

• Jurisdiction: Indiana
• Art. 13.6: STATE PUBLIC WORKS
• Ch. 8: Energy Cost Savings Contracts

Text

(a) After reviewing the proposals submitted
and after receiving a recommendation from the budget committee, the
department may approve an energy cost savings contract with a
qualified provider that best meets the needs of the governmental body
if the department reasonably expects the cost of the qualified energy
savings project recommended in the proposal would not exceed the
amount to be saved in:
(1) energy costs;
(2) operational costs; or
(3) both energy and operational costs;
not later than twenty (20) years after the date installation is completed
if the recommendations in the proposal are followed.
(b) An energy cost savings contract must include a guarantee from
the qualified provider to the state that:
(1) energy cost savings;
(2) operational cost savings; or
(3) both energy and operational cost savings;
will meet or exceed the cost of the qualified energy project not later
than twenty (20) years after the date installation is completed.

Legislative History

As added by P.L.58-1999, SEC.9 and P.L.172-1999, SEC.8. Amended by P.L.71-2009, SEC.1; P.L.99-2009, SEC.1.