{"data":{"id":"us-ky/krs-58.605","jurisdiction":"us-ky","citation":"KRS 58.605","heading":"Energy conservation revenue bonds for energy conservation measures --","body":"Procedure.\n(1) Subject to the reporting and approval requirements in KRS 45A.352, 45A.353, and\n58.610, any local public agency may issue energy conservation revenue bonds to\npay for the cost of energy conservation measures under guaranteed energy savings\ncontracts for the purpose of reducing the cost of energy to buildings owned or\noperated by the local public agency by making energy-saving improvements to these\nbuildings.\n(2) A local  public agency, or an agency acting on its behalf, may issue energy\nconservation revenue bonds to finance the energy conservation measures under\nguaranteed energy savings contracts, with the following limitations:\n(a) Any energy conservation measure, financed through bonds, shall comply with\nthe provisions set forth in KRS 45A.345, 45A.352, and 45A.353;\n(b) The term of the bonds shall run coterminous with the term of guaranteed\nenergy savings contract;\n(c) A local public agency shall not enter into a guaranteed energy savings contract\nwhere the total cost of the energy conservation measures exceeds the cost of\nthe energy savings plus the operational costs plus the capital cost avoidance\nthat is estimated for the term of the guaranteed energy savings contract\ncommencing from the date of the energy conservation measure's installation;\nand\n(d) The use of capital cost avoidance shall be subject to the following restrictions:\n1. The amount expended shall not exceed fifty percent (50%) of the project\ncost; and\n2. Capital cost avoidance shall be restricted to payment for permanent\nequipment replacement as follows:\na. Storm windows or doors, multiglazed windows or doors,\nadditional glazing, and reduction in glass area;\nb. Replacement of heating, ventilating, or air co nditioning major\ncomponents or systems;\nc. New lighting fixtures where required to achieve Illuminating\nEngineering Society of North America (IES) standards, provided\nthe existing light fixtures shall have been determined to be\nobsolete and incapable of achieving IES standards; and\nd. Life safety system replacements or upgrades which shall have been\ndetermined to be necessary to conform with existing state and local\ncodes and standards.\n(3) Energy conservation revenue bonds shall be issued in accordance with the\nprovisions of KRS 58.010 to 58.140 and shall be sold at a competitive sale preceded\nby adequate public notice and shall bear interest at an interest rate or rates\ndetermined by the local public agency at the time of the sale.","path":["KRS Chapter 58"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=22867","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:13Z","sha256":"416a8435bb3bbf2d153dbce6bcde9e97fa1a9979a0a4cb77ced678bdbcb1c255","source_id":"us-ky","stale":false,"prev":"us-ky/krs-58.600","next":"us-ky/krs-58.610"},"notice":"GroundRules: Original legal text. Not legal advice."}