CHAPTER 390
FORMERLY
HOUSE BILL NO. 539
AN ACT TO AMEND CHAPTER 75, TITLE 29, DELAWARE CODE, RELATING TO GUARANTEED ENERGY COST SAVINGS CONTRACTS.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. Amend Chapter 75, Title 29, Delaware Code, by adding a new section to read as follows:
"§ 7530. Guaranteed energy cost savings contracts.
School districts, notwithstanding any other provision of this Code, are authorized to enter into long term contracts known as 'guaranteed energy cost savings'. They are empowered to use their annual Division 11 energy appropriations to cover the costs of the contract. All such contracts must contain provisions which allow termination of the contract by the district in the event of non-appropriation of sufficient identified funds to meet the terms of the contract. No additional State funds shall be available for this type of contract. Districts which enter into such an agreement, notwithstanding any change in regulations, shall be allowed to complete the contract using Division 11 energy appropriations. Where these contracts include hardware/material expenditures, such procurements will be subject to the provisions in 29 Del. Code Chapter 69, Subchapter 1 whether the procurement is carried out by the district or vendor. In the event that the Division II energy appropriations are insufficient to meet the costs of the contract and energy used, districts shall be required to use other funds available to it for the costs exceeding the appropriations. The Division of Accounting is directed to assist school districts in implementing such contracts."
Approved June 24, 1996