1 Colo. Code Regs. § 301-85-2

Current through Register Vol. 47, No. 22, November 25, 2024

Section 1 CCR 301-85-2 - Eligibility and General Terms

2.1. The following entities are eligible to apply for a Loan:

2.1.1. Qualified School Districts that choose to undertake Renewable Energy Projects or Energy Efficiency Projects.

2.1.2. A Qualified School District may apply for a loan from the REES Loan Program on behalf of a charter school authorized by a district.

2.2. Renewable Energy and Energy Efficiency Project loans are provided to Qualified School Districts on a competitive basis. Limited loan funds are available and not all applications may be selected for loans.

2.3. No school district shall have more than $1,000,000 in Program Loans outstanding at any time.

2.4. The maximum loan term allowed shall be fifteen (15) years commencing on the date of the REEES Loan approval and cannot exceed the life of the Renewable Energy Project.

2.5. Pursuant to §22-92.102(2),C.R.S., if a Qualified School District applies for a loan from the REEES Loan Program, and the State Treasurer authorizes a loan for the Qualified School District pursuant to § 22-92-107,et seq., C.R.S., the Qualified School District shall not accept the loan unless the Qualified School District has first determined what financing terms are available to it from at least two banks.

1 CCR 301-85-2

38 CR 01, January 10, 2015, effective 1/30/2015