Section 31-7-14 of the Mississippi Code allows universities, community colleges, public hospitals, private "nonprofit" hospitals, state agencies, local governing authorities and school districts to lease-purchase energy efficiency services and/or equipment for up to fifteen (15) years. Through the Energy Efficiency Lease Program, public entities have access to pre-arranged, tax-exempt lease purchase financing. A public entity can reduce high origination fees, and streamline the otherwise lengthy funding process by participating in this program. Program participation also provides access to a team of technical, legal, and financial professionals.
THE ENERGY EFFICIENCY LEASE PROGRAM CAN BE USED TO FUND THE FOLLOWING TYPES OF CONTRACTS
- Bid-Spec Procurement Contract
- Energy Services Contract
- Energy Performance Contract
GENERAL PROGRAM STEPS
- Apply to the Energy Division & Natural Resources Division for program assistance;
- Identify the project and pass a resolution and intent to pursue an energy project utilizing this program to finance measures;
- Contract with a design engineer (if necessary) to aid with design specification, solicitation for services, and project implementation;
- Submit financial, technical, and legal information to MDA;
- After project approval, advertise for bids and select contractor;
- Execute lease documents when the work has been accepted.