1-33B-3.11. Reduction in amount of financing--Contract term--Measurement and verification report. All permissible sources, including utility incentives, grants, operating costs, or capital budgets, may be used to reduce the amount of financing.
An energy performance contract may extend beyond the current fiscal year, but may not exceed fifteen years, the cost-weighted average useful life of the cost-saving measure, or the term of financing, whichever is shortest.
During the guarantee period, a qualified energy service provider shall measure and verify reductions in energy consumption and costs attributable to cost-saving measures implemented pursuant to an energy performance contract and prepare and provide a measurement and verification report to the governmental unit at least once a year.
Source: SL 2016, ch 14, § 13.