90-4-1107. Term and conditions of energy performance contracts. (1) The term of an energy performance contract must be a minimum of 3 years and may be up to the useful life of the conservation measures or 20 years, whichever is less.
     (2) An energy performance contract must require the qualified provider to:
     (a) guarantee the conservation-related cost savings to the extent necessary to pay for the conservation measures, including financing charges incurred over the life of the contract;
     (b) monitor the reductions in energy consumption and the cost savings attributable to the conservation measures installed pursuant to the energy performance contract; and
     (c) annually prepare and provide a report to the local government unit, documenting the performance of the conservation measures.

     History: En. Sec. 7, Ch. 162, L. 2005.