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SF 1887

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

KEY: stricken = removed, old language.
underscored = added, new language.
Version List Authors and Status
Rtf

Current Version - as introduced

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1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15 1.16 1.17 1.18

A bill for an act
 relating to utilities; modifying the term of
guaranteed savings lease purchase contracts; amending
Minnesota Statutes 2004, section 16C.144, subdivision
3.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2004, section 16C.144,
subdivision 3, is amended to read:


Subd. 3.

Lease purchase contract.

The commissioner may
enter into a lease purchase agreement with any party for the
implementation of utility cost-savings measures in accordance
with an engineering report. The implementation costs of the
utility cost-savings measures recommended in the engineering
report shall not exceed the amount to be saved in utility and
operation and maintenance costs over the term of the lease
purchase agreement. The term of the lease purchase agreement
shall not exceed deleted text begin ten deleted text end new text begin 15 new text end years. The lease is assignable in
accordance with terms approved by the commissioner of finance.