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14-164-807. Guaranteed energy cost savings contract requirements.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-164-807. Guaranteed energy cost savings contract requirements.
(a) The following provisions are required in a guaranteed energy cost savings contract:
(1) A statement that the municipality or county shall maintain and operate the energy efficiency project as defined in the guaranteed energy cost savings contract; and
(2) A guarantee by the qualified provider that:
(A) The energy cost savings and operating cost savings to be realized over the term of the guaranteed energy cost savings contract meet or exceed the costs of the energy efficiency project; and
(B) If the annual energy or operating cost savings fail to meet or exceed the annual costs of the energy efficiency project as required by the guaranteed energy cost savings contract, the qualified provider shall reimburse the municipality or county for any shortfall of guaranteed energy cost savings over the term of the guaranteed energy cost savings contract.
(b) The maximum term for a guaranteed energy cost savings contract is twenty (20) years after the implementation of the energy efficiency project.
(c) Before entering into a guaranteed energy cost savings contract, the municipality or county shall require the qualified provider to file with the municipality or county a payment and performance bond or similar assurance.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-164-807
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:14-164-807
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 60c96a9d7d701d6a43424d03b677134447669a948db87f320d78d1810733f696
Source location: content.xml paragraph 38629
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14-164-807. Guaranteed energy cost savings contract requirements.
(a) The following provisions are required in a guaranteed energy cost savings contract:
(1) A statement that the municipality or county shall maintain and operate the energy efficiency project as defined in the guaranteed energy cost savings contract; and
(2) A guarantee by the qualified provider that:
(A) The energy cost savings and operating cost savings to be realized over the term of the guaranteed energy cost savings contract meet or exceed the costs of the energy efficiency project; and
(B) If the annual energy or operating cost savings fail to meet or exceed the annual costs of the energy efficiency project as required by the guaranteed energy cost savings contract, the qualified provider shall reimburse the municipality or county for any shortfall of guaranteed energy cost savings over the term of the guaranteed energy cost savings contract.
(b) The maximum term for a guaranteed energy cost savings contract is twenty (20) years after the implementation of the energy efficiency project.
(c) Before entering into a guaranteed energy cost savings contract, the municipality or county shall require the qualified provider to file with the municipality or county a payment and performance bond or similar assurance.
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