entity. This term does not include general obligation bonds.
"Owner financing." Financing A BOND PROVIDED by a real
property owner or a third-party provider. This term may include
a power purchase agreement.
"Power purchase agreement." A financial arrangement in which
a third party owns, operates and maintains a permanently affixed
energy generation unit for a property owner and the property
owner purchases power from the third party at agreed-upon rates
in the arrangement. The third party would have the ability to
finance its equipment acquisitions with an assessment under a
property assessed clean energy program.
"Program." A property assessed clean energy program
established under this chapter.
"Property assessed clean energy program." A means of
financing qualified projects in a district through an
assessment.
"Qualified party." A contractor , OR subcontractor or
financial institution that meets the following standards:
(1) Possesses all technical qualifications and
resources, including equipment, management, technical and
craft labor personnel, and financial resources necessary to
perform the contracted responsibilities, or will obtain the
contracted responsibilities through the use of qualified
subcontractors.
(2) Possesses all valid, current licenses, registrations
or other certificates required for the contractor or its
employees by Federal, State or local law necessary for the
type of work required for the project.
(3) Does not have any outstanding liability to the
locality in the form of tax obligations, fines or other fees,
20170SB0234PN1286 - 4 -
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