[Adopted 1-7-2013 by Ord. No. 02-13]
There shall be a fund created, to be known as the "Clean Energy
Finance and Investment Authority Fund," to receive payments of benefit
assessments collected by the City of Middletown for the Clean Energy
Finance and Investment Authority in accordance with loans issued to
local businesses pursuant to the Commercial Property Assessed Clean
Energy (C-PACE) Program established by Public Act No. 12-2 of the
June 12, 2012, Special Session of the Connecticut General Assembly.
In accordance with the terms of the Commercial Property Assessed
Clean Energy (C-PACE) agreement between the City of Middletown and
the Clean Energy Finance and Investment Authority, the Authority is
the beneficial owner of the amounts collected pursuant to the benefit
assessments made pursuant to the C-PACE program and deposited herein.
The City of Middletown shall transmit the amounts collected and held
herein to the Authority on a monthly basis.
