Sec. 5. After reviewing proposals submitted under this chapter, a state educational institution may enter into energy cost savings contracts with a qualified provider if the state educational institution reasonably expects that the cost of a qualified energy savings project recommended in the proposal would not exceed the amount to be saved in either energy or operational costs, or both, within the ten (10) year period following the date installation is complete if the recommendations in the proposal are followed. An energy cost savings contract may also include a guaranty from the qualified provider to the state educational institution that either the energy or operational cost savings, or both, will meet or exceed the cost of the energy cost savings projects not later than ten (10) years after the date installation is complete.
[Pre-2007 Higher Education Recodification Citation: 20-12-5.5-7(h).]
As added by P.L.2-2007, SEC.274.
Structure Indiana Code
Article 33. State Educational Institutions: Approval of Projects; Funding
Chapter 4. Qualified Energy Savings Projects
21-33-4-1. Authority to Undertake a Qualified Energy Savings Project
21-33-4-2. Proposals; Contracts; Bonds
21-33-4-3. Proposals; Contents
21-33-4-4. Selection of Qualified Energy Savings Projects; Notice
21-33-4-5. Cost Savings Contracts
21-33-4-6. Effect of Energy Cost and Operational Savings on State Appropriations