90-4-1306. Establishment of program. (1) To establish a commercial property-assessed capital enhancements program, a governing body shall:

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

(a)adopt a resolution of intent that includes:

(i)a statement of intent to establish a commercial property-assessed capital enhancements program describing the role of the governing body and the role of the authority in administering the program;

(ii)the types of energy conservation projects that may be included in the program;

(iii)a reference to the program plan required by 90-4-1305 and a location where the plan is available for public inspection; and

(iv)the time and place for a public hearing on the proposed program;

(b)hold a public hearing at which the public may comment on the proposed program and the program plan required by 90-4-1305; and

(c)adopt a resolution establishing the program and setting the terms and conditions of the program, including:

(i)how the governing body will meet the program plan requirements established by the authority in 90-4-1305. To meet the requirement of this subsection (1)(c)(i), the resolution may incorporate a program plan or an amended version of a program plan by reference.

(ii)a description of the aspects of the program that may be changed without a public hearing and the aspects that may be changed only after a public hearing;

(iii)identification of an official authorized to enter into a program contract on behalf of the program with entities providing funding for the program; and

(iv)identification of an official authorized to enter into a program contract on behalf of the governing body with record owners.

(2)A commercial property-assessed capital enhancements program may be changed by resolution of the governing body. Adoption of the resolution must be preceded by a public hearing if required pursuant to subsection (1)(c)(ii).