(1)There is created the C-PACE district.
(2)The C-PACE district may, subject to Subsection (3):
(2)(a) designate an energy assessment area;
(2)(b) levy an assessment;
(2)(c) assign an energy assessment lien to a third-party lender; and
(2)(d) collect an assessment within an energy assessment area in accordance with Section 11-42a-302.
(3)(3)(a) The C-PACE district may only take the actions described in Subsection (2) if a governing body makes a written request of the C-PACE district to, in accordance with this chapter:
(3)(a)(i) create an energy assessment area within the jurisdiction of the governing body; and
(3)(a)(ii) finance an improvement within that energy assessment area.
(3)(b) Before creating an energy assessment area under Subsection (3)(a), the C-PACE district shall enter i
Free access — add to your briefcase to read the full text and ask questions with AI
(1) There is created the C-PACE district.
(2) The C-PACE district may, subject to Subsection (3):
(2)(a) designate an energy assessment area;
(2)(b) levy an assessment;
(2)(c) assign an energy assessment lien to a third-party lender; and
(2)(d) collect an assessment within an energy assessment area in accordance with Section 11-42a-302.
(3) (3)(a) The C-PACE district may only take the actions described in Subsection (2) if a governing body makes a written request of the C-PACE district to, in accordance with this chapter:
(3)(a)(i) create an energy assessment area within the jurisdiction of the governing body; and
(3)(a)(ii) finance an improvement within that energy assessment area.
(3)(b) Before creating an energy assessment area under Subsection (3)(a), the C-PACE district shall enter into an agreement with the relevant public electrical utility to establish the scope of the improvement to be financed.
(4) (4)(a) OED shall administer and direct the operation of the C-PACE district.
(4)(b) OED may:
(4)(b)(i) adopt a fee schedule and charge fees, in accordance with Section 63J-1-504, to cover the cost of administering and directing the operation of the C-PACE district;
(4)(b)(ii) delegate OED's powers under this chapter to a third party to assist in administering and directing the operation of the C-PACE district; and
(4)(b)(iii) make rules, in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, to establish procedures necessary to carry out the actions described in Subsection (2).
(4)(c) If OED delegates OED's power under Subsection (4)(b)(ii), OED shall:
(4)(c)(i) delegate the authority through a written agreement with the third party; and
(4)(c)(ii) ensure that the written agreement includes provisions that:
(4)(c)(ii)(A) require the third party to be subject to an audit by the state auditor regarding the delegation;
(4)(c)(ii)(B) require the third party to submit to OED monthly reports, including information regarding the assessments the C-PACE district levies and the payments the C-PACE district receives; and
(4)(c)(ii)(C) insulate OED from liability for the actions of the third party and the C-PACE district while under the direction and administration of the third party.
(4)(d) OED is subject to Title 63G, Chapter 7, Governmental Immunity Act of Utah.
(5) The state is not liable for the acts or omissions of the C-PACE district or the C-PACE district's directors, administrators, officers, agents, employees, third-party directors or administrators, or third-party lenders, including any obligation, expense, debt, or liability of the C-PACE district.