[HISTORY: Adopted by the Board of Directors of the Town of Manchester 5-7-2013. Amendments noted where applicable.]
Clean Energy Finance and Investment Authority — See C.G.S. § 16-245n.
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 Town of Manchester 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.
Editor's Note: See Connecticut General Statutes, Section 16-245n.
In accordance with the terms of the Commercial Property Assessed Clean Energy (C-PACE) agreement between the Town of Manchester and the Clean Energy Finance and Investment Authority, the Authority is the beneficial owner of the amounts collected pursuant to the benefit assessments and made pursuant to the C-PACE program and deposited herein. The Town of Manchester shall transmit the amounts collected and held herein to the Authority on a monthly basis.