Definitions

  1. Law
  2. Arkansas Code
  3. Local Government
  4. Economic Development And Tourism Generally
  5. Industrial Development Bonds
  6. Local Government Energy Efficiency Project Bond Act
  7. Definitions

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As used in this subchapter:

  1. (1) “Bonds” means bonds, notes, certificates, financing leases, or other interest-bearing instruments or evidences of indebtedness that are issued under this subchapter;

  2. (2) “Chief executive officer” means the chief executive officer of a municipality or the county judge of a county;

  3. (3) “County” means a county in the State of Arkansas;

  4. (4) “Energy efficiency project” means:

    1. (A) A new facility that is designed to reduce the consumption of energy or natural resources or result in operating cost savings as a result of changes that:

      1. (i) Do not degrade the level of service or working conditions;

      2. (ii) Are measurable and verifiable under the International Performance Measurement and Verification Protocol, promulgated by the Arkansas Pollution Control and Ecology Commission in the rules required under § 19-11-1207; and

      3. (iii) Are measured and verified by an audit performed by an independent engineer or by a qualified provider, including the vendor providing the energy efficiency project; or

    2. (B) An existing facility alteration that is designed to reduce the consumption of energy or natural resources or result in operating cost savings as a result of changes that conform with subdivisions (4)(A)(i) and (ii) of this section;

  5. (5) “Guaranteed energy cost savings contract” means a contract for the implementation of one (1) or more energy efficiency projects and services provided by a qualified provider in which the energy and cost savings achieved by the installed energy efficiency project cover all energy efficiency project costs, including financing, over a specified contract term;

  6. (6) “Issuer” means a municipality or a county;

  7. (7) “Legislative body” means the quorum court of a county or the council, board of directors, board of commissioners, or similar elected governing body of a city or town;

  8. (8) “Municipality” means a city or incorporated town in the State of Arkansas;

  9. (9) “Operating cost savings” means expenses eliminated and future replacement expenditures avoided as a result of new equipment installed or services performed;

  10. (10) “Ordinance” means an ordinance, resolution, or other appropriate legislative enactment of a legislative body; and

  11. (11) “Qualified provider” means the same as defined in § 19-11-1202.


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