<br><br> <br>Page 1 of 1 <br>45A.353 Extension of guaranteed energy savings contract -- Documentation of <br>savings -- Lease-purchase agreements -- Exemption from debt limitations. <br>(1) Guaranteed energy savings contracts may extend beyond the fiscal year in which <br>they become effective. The local public agency shall include in its annual budget <br>and appropriations act, for each subsequent fiscal year, any accounts payable under <br>guaranteed energy savings contracts during the fiscal year. <br>(2) The local public agency shall document the operational and energy cost savings and <br>capital cost avoidance specified in the guaranteed energy savings contract and <br>designate and appropriate that amount for an annual payment of the contract. If the <br>annual energy and operational savings are less than projected under the guaranteed <br>savings contract, the qualified provider shall pay the difference as provided for in <br>KRS 45A.352. <br>(3) Notwithstanding any other provisions of law to the contrary, a local public agency <br>may finance the installation of energy conservation measures for its buildings <br>through a lease-purchase agreement, bonds, or whichever brings the most economic <br>value to the local public agency, subject to the local public agency's compliance <br>with all other laws regarding approval of plans for additions, alterations, or <br>renovations of its buildings. <br>(4) The component which is guaranteed as energy savings and as operational savings <br>shall be exempt from current or future debt limitations, except that capital cost <br>avoidance, as defined in KRS 45A.345, shall be limited to current or future debt <br>limitations. <br>Effective: July 15, 1998 <br>History: Amended 1998 Ky. Acts ch. 375, sec. 4, effective July 15, 1998. -- Created <br>1996 Ky. Acts ch. 203, sec. 4, effective July 15, 1996. <br><br>