The General Assembly finds that:
(1) It is in the best interests of the state to authorize districts that make available to citizens one (1) or more financing programs, including without limitation a PACE program, to fund energy efficiency improvements, renewable energy projects, and water conservation improvements on residential, commercial, industrial, and other real properties at the request of the owner;
(2) The programs described in subdivision (1) of this section will benefit the citizens of this state by:
(A) Decreasing the cost of providing funds to participating citizens and lowering the aggregate issuance and servicing costs of loans; and
(B) Making funds available to rural communities throughout the state that might not otherwise create and finance the programs described in subdivision (1) of this section; and
(3) The programs described in subdivision (1) of this section will further the public purpose of:
(A) Creating jobs and stimulating the state's economy;
(B) Generating significant economic development through the investment of the proceeds of loans in local communities, including increased sales tax revenue;
(C) Protecting participating citizens from the financial impact of the rising cost of electricity produced from nonrenewable fuels;
(D) Providing positive cash flow in which the costs of the improvements are lower than the energy savings on an average monthly basis;
(E) Providing the citizens of this state with informed choices and additional options for financing improvements that may not otherwise be available;
(F) Increasing the value of the improved real property for participating citizens;
(G) Improving the state's air quality and conserving natural resources, including water;
(H) Attracting manufacturing facilities and related jobs to the state; and
(I) Promoting energy independence and security for the state and the nation.
Section: Previous 8-15-102 8-15-103 8-15-104 8-15-105 8-15-106 8-15-107 8-15-108 8-15-109 8-15-110 8-15-111 8-15-112 8-15-113 8-15-114 8-15-115 NextLast modified: November 15, 2016