Payment obligations of a governmental unit pursuant to a guaranteed utility savings contract with a qualified provider and any installment payment contract or lease-purchase agreement pursuant to a guaranteed utility savings contract are not general obligations of the governmental unit and are collectible only from utility cost savings and conservation-related cost savings appropriated by the legislature and other revenues pledged for that purpose in accordance with the Public Facility Energy Efficiency and Water Conservation Act.
History: Laws 1993, ch. 231, § 6; 1997, ch. 42, § 6; 2001, ch. 247, § 5.
ANNOTATIONSThe 2001 amendment, effective June 15, 2001, inserted "utility cost savings and conservation-related cost savings appropriated by the legislature and other"; and substituted "Public Facility" for "Public Building".
The 1997 amendment, effective June 20, 1997, substituted "utility" for "energy" throughout the section and inserted "and Water Conservation".