{"data":{"id":"us-ky/krs-45a.353","jurisdiction":"us-ky","citation":"KRS 45A.353","heading":"Extension of guaranteed energy savings contract -- Documentation of","body":"savings -- Lease-purchase agreements -- Exemption from debt limitations.\n(1) Guaranteed energy savings contracts may extend beyond the fiscal year in which\nthey become effective. The local public agency shall include in its annual budget\nand appropriations act, for each subsequent fiscal year, any accounts payable under\nguaranteed energy savings contracts during the fiscal year.\n(2) The local public agency shall document the operational and energy cost savings and\ncapital cost avoidance specified in the guaranteed energy savings contract and\ndesignate and appropriate that amount for an annual payment of the contract. If the\nannual energy and operational savings are less than projected u nder the guaranteed\nsavings contract, the qualified provider shall pay the difference as provided for in\nKRS 45A.352.\n(3) Notwithstanding any other provisions of law to the contrary, a local public agency\nmay finance the installation of energy conservation  measures for its buildings\nthrough a lease-purchase agreement, bonds, or whichever brings the most economic\nvalue to the local public agency, subject to the local public agency's compliance\nwith all other laws regarding approval of plans for additions, al terations, or\nrenovations of its buildings.\n(4) The component which is guaranteed as energy savings and as operational savings\nshall be exempt from current or future debt limitations, except that capital cost\navoidance, as defined in KRS 45A.345, shall be limited to current or future debt\nlimitations.","path":["KRS Chapter 45A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=22404","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:07Z","sha256":"9bd766f7c9d23e4d698029fd3427fe650d61ec8f0f3185204b21390b927f9a4b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-45a.352","next":"us-ky/krs-45a.355"},"notice":"GroundRules: Original legal text. Not legal advice."}