Ark. Code § 14-164-803

Current with legislation from 2024 effective through May 3, 2024.

Section 14-164-803 - Definitions

As used in this subchapter:

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

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

(3) "County" means a county in the State of Arkansas;

(4) "Energy efficiency project" means:

(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:

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

(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

(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

(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) "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) "Issuer" means a municipality or a county;

(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) "Municipality" means a city or incorporated town in the State of Arkansas;

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

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

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

Ark. Code § 14-164-803

Amended by Act 2019, No. 315,§ 1008, eff. 7/24/2019.

Amended by Act 2017, No. 271,§ 3, eff. 8/1/2017.

Added by Act 2015, No. 1275,§ 1, eff. 7/22/2015.