S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7683

                            I N  S E N A T E

                             April 30, 2010
                               ___________

Introduced  by  Sens.  THOMPSON,  OPPENHEIMER,  PARKER -- read twice and
  ordered printed, and when printed to be committed to the Committee  on
  Energy and Telecommunications

AN  ACT to amend the general municipal law, in relation to the municipal
  sustainable energy financing program

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The article heading of article 5-L of the general municipal
law,  as added by chapter 497 of the laws of 2009, is amended to read as
follows:
          MUNICIPAL SUSTAINABLE ENERGY [LOAN] FINANCING PROGRAM
  S 2. Section 119-ee of the general municipal law, as added by  chapter
497 of the laws of 2009, is amended to read as follows:
  S  119-ee. Legislative findings and declaration. The legislature finds
and declares that it is the policy of the  state  to  achieve  statewide
energy  efficiency  and  renewable  energy  goals, reduce greenhouse gas
emissions and mitigate the effect of global climate change, and  advance
a  clean  energy  economy; and that to achieve such policy and goals the
state must promote the deployment  AND  FINANCING  of  renewable  energy
systems  and  energy  efficiency measures throughout the state; and that
[municipalities]  MUNICIPAL  CORPORATIONS  would  fulfill  an  important
public  purpose by providing [loans] AND/OR ARRANGING TO PROVIDE FINANC-
ING to property owners for the installation of renewable energy  systems
and  energy  efficiency  measures  WHICH MAY BE FURTHERED BY THE PARTIC-
IPATION OF THE NEW YORK STATE ENERGY RESEARCH AND DEVELOPMENT  AUTHORITY
AS HEREIN PROVIDED.
  ESTABLISHING  THE  MEANS TO PROMOTE THE DEPLOYMENT OF RENEWABLE ENERGY
SYSTEMS AND ENERGY EFFICIENCY MEASURES THROUGHOUT THE STATE WILL  FOSTER
NOT  ONLY  A  CLEAN  ENERGY  ECONOMY,  LEADING TO THE DEVELOPMENT OF NEW
INDUSTRIES AND NEW JOBS, BUT ALSO A CLEANER ENVIRONMENT.  THE  REDUCTION
IN ENERGY DEMAND THAT WILL RESULT FROM THE DEPLOYMENT OF RENEWABLE ENER-
GY  SYSTEMS  AND  ENERGY EFFICIENCY MEASURES WILL: (A) HELP AVOID FUTURE
ENERGY SHORTAGES; AND (B) ENABLE THE STATE AND MUNICIPAL CORPORATIONS TO
RELY LESS ON SOURCES OF ENERGY THAT HAVE A  DETRIMENTAL  EFFECT  ON  AIR

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
              

                                                           LBD17065-02-0

S. 7683                             2

QUALITY,  TO IMPROVE THE CLEANLINESS OF THE AIR IN THE STATE AND THEREBY
TO CONTRIBUTE TO THE HEALTH AND WELL-BEING OF THE PEOPLE OF THE STATE.
  TO  ACHIEVE  SUCH  POLICY  AND GOALS, THE LEGISLATURE FINDS THAT IT IS
NECESSARY FOR THE STATE TO FACILITATE THE FINANCING OF RENEWABLE  ENERGY
SYSTEMS  AND  ENERGY  EFFICIENCY IMPROVEMENTS. FOR MANY BUILDING OWNERS,
TRADITIONAL SOURCES OF FINANCING ARE  EITHER  TOO  EXPENSIVE  OR  SIMPLY
UNAVAILABLE  TO PAY FOR THE COSTS OF INSTALLING RENEWABLE ENERGY SYSTEMS
AND ENERGY EFFICIENCY IMPROVEMENTS. WIDESPREAD DEPLOYMENT OF SUCH  MEAS-
URES CAN ONLY BE ACHIEVED WITH READILY AVAILABLE, COST-EFFECTIVE FINANC-
ING TO MEET THE REQUIRED INITIAL CAPITAL INVESTMENTS.
  THE  LEGISLATURE  DECLARES THAT IT IS NECESSARY FOR THE NEW YORK STATE
ENERGY AND RESEARCH DEVELOPMENT AUTHORITY AND MUNICIPAL CORPORATIONS  TO
PLAY  A  CRITICAL  ROLE  IN  FULFILLING THIS IMPORTANT PUBLIC PURPOSE BY
PROVIDING COST-EFFECTIVE FINANCING FOR THE LARGE-SCALE  INSTALLATION  OF
SUCH  RENEWABLE  ENERGY  SYSTEMS AND ENERGY EFFICIENCY MEASURES, FOR THE
IMMEDIATE PROTECTION OF THE PUBLIC INTEREST AND FOR  THE  IMPLEMENTATION
OF THE STATE'S GREENHOUSE GAS REDUCTION PLANS.
  S  3. Section 119-ff of the general municipal law, as added by chapter
497 of the laws of 2009, is amended to read as follows:
  S 119-ff. Definitions. For purposes of this article:
  1.  "ASSESSMENT DISTRICT" MEANS THE AREA WITHIN ONE OR MORE  MUNICIPAL
CORPORATIONS  IN  WHICH  AN  ENERGY  EFFICIENCY IMPROVEMENT OR RENEWABLE
ENERGY SYSTEM IS FINANCED PURSUANT TO THE PROVISIONS OF THIS ARTICLE.
  2. "Authority" means the New York state energy research  and  develop-
ment  authority,  as  defined  by  subdivision  two  of section eighteen
hundred fifty-one of the public authorities law, or its successor.
  [2.] 3. "Credit support" means and includes direct loans,  letters  OR
LINES  of  credit,  loan  guarantees,  and  insurance  products; and the
purchase of or commitment to purchase, or the sale of or  commitment  to
sell, debt instruments, including subordinated securities.
  [3.]  4.  "Energy  audit"  means  a  formal  evaluation  of the energy
consumption of a permanent building or structural  improvement  to  real
property,  conducted  by  a  contractor  certified  by the authority, or
certified by a certifying entity approved by the authority for  purposes
of this article, for the purpose of identifying appropriate energy effi-
ciency  improvements  that  could  be  made to the property. A municipal
corporation may, by local law, provide for  the  certification  of  such
contractors  based upon criteria at least as stringent as the state-wide
criteria for certification adopted by the authority for purposes of this
article.
  [4.] 5. "Energy efficiency improvement" means and includes  any  reno-
vation  or retrofitting of a building to reduce energy consumption, such
as window and door replacement,  lighting,  caulking,  weatherstripping,
air  sealing,  insulation,  and heating and cooling system upgrades, and
similar improvements, determined to be cost-effective pursuant to crite-
ria established by the authority.  WITH RESPECT TO ONE  TO  FOUR  FAMILY
RESIDENTIAL  PROPERTIES,  THE  TERM  "ENERGY EFFICIENCY IMPROVEMENT" MAY
INCLUDE ANY COMBUSTION  HEALTH  AND  SAFETY  RELATED  REPAIRS  THAT  ARE
REQUIRED TO BE MADE IN CONJUNCTION WITH OTHER ENERGY EFFICIENCY IMPROVE-
MENTS  IN  ORDER  TO CONFORM WITH THE STANDARDS OF THE CERTIFYING ENTITY
DESCRIBED IN SUBDIVISION FOUR OF THIS SECTION.  However,  "energy  effi-
ciency  improvement"  shall  not  include lighting measures or household
appliances that are not permanently fixed to real property.  IN ANY CITY
HAVING A POPULATION OF ONE MILLION OR MORE PERSONS, SUCH  CITY  MAY,  BY
LOCAL  LAW, OR BY RULE PROMULGATED PURSUANT TO SUCH LOCAL LAW, ESTABLISH

S. 7683                             3

SUCH CRITERIA, AS WELL AS  LISTS  OF  COST-EFFECTIVE  ENERGY  EFFICIENCY
IMPROVEMENTS, AS DETERMINED TO BE APPROPRIATE.
  6. "GOVERNING BODY" MEANS: (I) IN ANY VILLAGE, THE VILLAGE BOARD; (II)
IN  ANY TOWN, THE TOWN BOARD; (III) IN ANY COUNTY, THE BOARD OF SUPERVI-
SORS; (IV) IN ANY CITY HAVING  A  POPULATION  OF  ONE  MILLION  OR  MORE
PERSONS,  THE  CHIEF  EXECUTIVE  OFFICER  OF SUCH CITY, AND IN ANY OTHER
CITY, THE CITY COUNCIL OR COMMON COUNCIL.
  [5.] 7. "Municipal corporation" means a county, town, city or village.
  [6.] 8. "Renewable energy system" means an  energy  generating  system
for  the  generation of electric or thermal energy, to be used primarily
at such property, by means of solar thermal, solar  photovoltaic,  wind,
geothermal,  anaerobic  digester  gas-to-electricity  systems, fuel cell
technologies, or other  renewable  energy  technology  approved  by  the
authority  not  including the combustion or pyrolysis of solid waste. IN
ANY CITY HAVING A POPULATION OF ONE MILLION OR MORE PERSONS,  SUCH  CITY
MAY,  BY  LOCAL  LAW, OR BY RULE PROMULGATED PURSUANT TO SUCH LOCAL LAW,
APPROVE OTHER RENEWABLE ENERGY TECHNOLOGY NOT INCLUDING  THE  COMBUSTION
OR PYROLYSIS OF SOLID WASTE, AS DETERMINED TO BE APPROPRIATE.
  [7.]  9.  "Renewable  energy system feasibility study" means a written
study, conducted by a contractor certified by the authority,  or  certi-
fied  by  a  certifying entity approved by the authority for purposes of
this article, for the purpose of determining the feasibility of install-
ing a renewable energy system. A municipal  corporation  may,  by  local
law, provide for the certification of such contractors based upon crite-
ria  at  least as stringent as the state-wide criteria for certification
adopted by the authority for purposes of this article.
  S 4. Section 119-gg of the general municipal law, as added by  chapter
497 of the laws of 2009, is amended to read as follows:
  S 119-gg. Sustainable energy [loan] FINANCING program. 1. The legisla-
tive  body  of  any municipal corporation may, by local law, establish a
sustainable energy [loan] FINANCING program using,  WITHOUT  LIMITATION,
federal  grant  assistance  [or],  federal  credit support, OR ANY OTHER
GRANTS available for this purpose, AND FOR MUNICIPAL  CORPORATIONS  WITH
THE  POWER  TO  ENFORCE DELINQUENT TAX LIENS, USING PROCEEDS FROM BONDS,
NOTES OR OTHER EVIDENCE OF INDEBTEDNESS ISSUED BY THE AUTHORITY, OR  ANY
OTHER  GRANTS,  CREDIT  SUPPORT  OR  OTHER  MONIES MADE AVAILABLE BY THE
AUTHORITY OR OTHERWISE AVAILABLE TO SUCH MUNICIPAL CORPORATION FOR  SUCH
PURPOSE.  A  MUNICIPAL  CORPORATION WITH THE POWER TO ENFORCE DELINQUENT
TAX LIENS MAY CAUSE THE ESTABLISHMENT OF A LOCAL DEVELOPMENT CORPORATION
UNDER SECTION FOURTEEN HUNDRED ELEVEN OF THE NOT-FOR-PROFIT  CORPORATION
LAW,  OR  OTHER  NOT-FOR-PROFIT  CORPORATION,  TRUST,  LIMITED LIABILITY
COMPANY, ASSOCIATION OR ORGANIZATION, TO ISSUE DEBT  FOR  A  SUSTAINABLE
ENERGY  FINANCING  PROGRAM  AND  TO PROVIDE ASSISTANCE TO SUCH MUNICIPAL
CORPORATION IN THE IMPLEMENTATION  OF  A  SUSTAINABLE  ENERGY  FINANCING
PROGRAM,  AND  SUCH  ASSISTANCE  SHALL BE DEEMED TO LESSEN THE BURDEN OF
GOVERNMENT AND CONSTITUTE ACTION IN THE PUBLIC INTEREST.
  2. Such program may [make loans to] PROVIDE FINANCING TO  OR  FOR  the
owners  of  real  property  located within the municipal corporation [to
finance] FOR the installation of renewable  energy  systems  and  energy
efficiency  improvements,  related  energy  audits  and renewable energy
system feasibility studies, and the verification of the installation  of
such  systems and improvements. [No] IN ORDER TO IMPLEMENT THE SUSTAINA-
BLE ENERGY FINANCING PROGRAM, ANY municipal corporation [shall make such
a loan to an owner of property that has received  a  loan  from  another
municipal  corporation]  ACTING pursuant to [this article] AUTHORIZATION
BY RESOLUTION OF ITS GOVERNING BODY, MAY:

S. 7683                             4

  (A) ENTER INTO A CONTRACT WITH  THE  AUTHORITY  UPON  SUCH  TERMS  AND
CONDITIONS  AS  THE AUTHORITY AND THE MUNICIPAL CORPORATION SHALL DETER-
MINE. SUCH CONTRACT MAY PROVIDE FOR THE SALE OR ASSIGNMENT BY A  MUNICI-
PAL CORPORATION, AND THE PURCHASE OR ACQUISITION BY THE AUTHORITY (USING
THE  PROCEEDS  OF  AUTHORITY BONDS OR MONEYS OF THE AUTHORITY INCLUDING,
WITHOUT LIMITATION, MONEYS HELD IN THE GREEN JOBS-GREEN NEW  YORK  FUND)
OF  FINANCING  ARRANGEMENTS  ORIGINATED BY, THROUGH OR ON BEHALF OF SUCH
MUNICIPAL CORPORATION, PAYMENTS RECEIVED BY SUCH  MUNICIPAL  CORPORATION
IN  CONNECTION  THEREWITH, OR ANY OTHER RIGHTS OR INTERESTS THEREIN, AND
THE ESTABLISHMENT OF LOAN LOSS OR OTHER  RESERVES  WITH  SUCH  AUTHORITY
MONEYS. SUCH CONTRACT MAY ALSO PROVIDE FOR THE REIMBURSEMENT OF COSTS BY
ONE PARTY TO THE OTHER AND MAY AUTHORIZE THE AUTHORITY (OR ITS DESIGNEE)
TO  ACT  AS  AN  AGENT OF THE MUNICIPAL CORPORATION WITH RESPECT TO SUCH
FINANCING ARRANGEMENTS.  ANY SUCH CONTRACT SHALL CONTAIN  THE  FOLLOWING
CLAUSE:  "THIS  CONTRACT  IS NOT A GENERAL OBLIGATION OF (INSERT NAME OF
MUNICIPAL CORPORATION(S)). NEITHER THE FULL FAITH  AND  CREDIT  NOR  THE
TAXING POWER OF (INSERT NAME OF MUNICIPAL CORPORATION(S)) ARE PLEDGED TO
THE  PAYMENT  OF ANY AMOUNT DUE OR TO BECOME DUE UNDER SUCH CONTRACT. IT
IS UNDERSTOOD THAT NEITHER THIS CONTRACT NOR ANY REPRESENTATION  BY  ANY
PUBLIC  EMPLOYEE  OR  OFFICER  CREATES  ANY LEGAL OR MORAL OBLIGATION TO
APPROPRIATE OR MAKE MONIES AVAILABLE FOR THE PURPOSE OF THE  CONTRACT.";
AND
  (B)  ENTER  INTO  SUCH  OTHER  CONTRACTS  WITH THIRD PARTIES AS MAY BE
NECESSARY OR APPROPRIATE TO  IMPLEMENT  SUCH  PROGRAM,  UPON  TERMS  AND
CONDITIONS  DEEMED  APPROPRIATE  BY SUCH MUNICIPAL CORPORATION, PROVIDED
THAT SUCH TERMS AND CONDITIONS ARE CONSISTENT WITH ALL OF THE  STANDARDS
AND REQUIREMENTS SET FORTH IN THIS ARTICLE.
  NO  MUNICIPAL  CORPORATION  SHALL  PROVIDE SUCH FINANCING TO OR FOR AN
OWNER OF PROPERTY THAT HAS RECEIVED  FINANCING  FROM  ANOTHER  MUNICIPAL
CORPORATION  PURSUANT  TO THIS ARTICLE FOR THE SAME IMPROVEMENTS, UNLESS
PURSUANT TO JOINT SUSTAINABLE ENERGY FINANCING PROGRAM ESTABLISHED  WITH
SUCH OTHER MUNICIPAL CORPORATION.
  3.  Each  such  local  law  establishing the sustainable energy [loan]
FINANCING program shall provide for the criteria for making such [loans]
FINANCING AVAILABLE and the terms and conditions for repayment  of  such
[loans]  FINANCING.    The  sustainable  energy [loan] FINANCING program
shall use such lists of cost effective  energy  efficiency  improvements
for different building types as are approved by the authority, OR IN ANY
CITY  HAVING  A POPULATION OF ONE MILLION OR MORE PERSONS, AS ARE ESTAB-
LISHED BY SUCH CITY BY LOCAL LAW, OR BY  RULE  PROMULGATED  PURSUANT  TO
SUCH LOCAL LAW.
  4.  The municipal corporation shall verify and report on the installa-
tion and performance of renewable energy systems and  energy  efficiency
improvements financed by the loan program in such form and manner as the
authority  may establish, PROVIDED THAT, IN ANY CITY HAVING A POPULATION
OF ONE MILLION OR MORE PERSONS, SUCH CITY MAY, BY LOCAL LAW, OR BY  RULE
PROMULGATED PURSUANT TO SUCH LOCAL LAW, ESTABLISH A SYSTEM FOR VERIFYING
THE  INSTALLATION AND PERFORMANCE OF RENEWABLE ENERGY SYSTEMS AND ENERGY
EFFICIENCY IMPROVEMENTS FINANCED BY THE PROGRAM.
  5. Every [loan] FINANCING made under  the  sustainable  energy  [loan]
FINANCE  program  shall be repaid over a term not to exceed the weighted
average of the useful life of such systems and  improvements  as  deter-
mined  by the municipal corporation. The municipal corporation shall set
a fixed rate of interest for the repayment of the  principal  amount  of
each [loan] ASSESSMENT at the time the [loan] FINANCING is made.

S. 7683                             5

  6.  The [principal] amount [of each such loan] FINANCED BY THE MUNICI-
PAL CORPORATION FOR AN IMPROVEMENT, excluding interest, shall not exceed
the lesser of ten percent of the [appraised] FAIR MARKET  VALUE  OF  THE
real  property  [value],  AS DETERMINED BY THE MUNICIPAL CORPORATION, or
the  actual  cost  of  installing the renewable energy system and energy
efficiency improvements[, including].  FINANCING  PROVIDED  PURSUANT  TO
THIS  SECTION  MAY  INCLUDE the costs of necessary equipment, materials,
and labor, the costs of each related energy audit and  renewable  energy
system feasibility study, [and] the cost of verification of such renewa-
ble  energy  system  and  energy  efficiency improvements, AND ANY OTHER
RELATED TRANSACTION AND/OR ADMINISTRATION COSTS.
  7. No such [loan]  FINANCING  shall  be  made  for  energy  efficiency
improvements  unless  determined  to  be  appropriate  through an energy
audit, and no such [loan] FINANCING shall be made for a renewable energy
system unless determined to  be  feasible  through  a  renewable  energy
system feasibility study.
  8. [The loan] ANY ASSESSMENTS made under the sustainable energy [loan]
FINANCING  program  shall constitute a lien upon the real property bene-
fitted by such [loan] FINANCING.
  9. The municipal corporation may require [the loan] ANY FINANCING made
under the sustainable energy [loan] FINANCING program to  be  repaid  by
the property owner through [a charge] AN ASSESSMENT on the real property
benefitted  by  such [loan] FINANCING. A MUNICIPAL CORPORATION IS HEREBY
AUTHORIZED TO ASSESS REAL PROPERTY LOCATED WITHIN ITS JURISDICTION BENE-
FITTED BY IMPROVEMENTS FINANCED  BY  THE  SUSTAINABLE  ENERGY  FINANCING
PROGRAM,  FOR THE REPAYMENT OF SUCH FINANCING AS WELL AS ANY OTHER COSTS
RELATED TO THE SUSTAINABLE ENERGY FINANCING PROGRAM.  Such charge  shall
be  on  the  real property and shall be levied and collected at the same
time and in the same manner  as  municipal  taxes,  provided  that  such
charge  shall be separately listed on the tax bill, and provided further
that in the event such charge should not be paid in a timely manner,  no
other  municipal  corporation  shall  be required to credit or otherwise
guarantee the amount of such unpaid charge to the municipal  corporation
which  authorized the [loan] FINANCING, notwithstanding any provision of
law to the contrary.  ANY COUNTY, TOWN, CITY OR VILLAGE MAY  ENTER  INTO
AGREEMENTS WITH A MUNICIPAL CORPORATION AND/OR THE AUTHORITY RELATING TO
THE ADMINISTRATIVE FUNCTIONS OF THE FINANCING PROGRAM INCLUDING, BUT NOT
LIMITED  TO,  INCORPORATING ASSESSMENT CHARGES ON TAX BILLS, DETERMINING
FAIR MARKET VALUES, PROVIDING NOTIFICATIONS WHEN SUCH  ASSESSMENTS  HAVE
NOT  BEEN  PAID AND COLLECTING UNPAID ASSESSMENTS; PROVIDED, HOWEVER, NO
TOWN, VILLAGE OR CITY SHALL BE AUTHORIZED TO ENTER INTO ANY SUCH  AGREE-
MENT  WITH  ANY COUNTY OTHER THAN THE COUNTY IN WHICH SUCH TOWN, CITY OR
VILLAGE IS LOCATED. ALL OF THE PROVISIONS OF THE REAL PROPERTY TAX  LAWS
OF  THE  STATE  AND  MUNICIPAL CORPORATIONS COVERING THE ENFORCEMENT AND
COLLECTION OF UNPAID TAXES OF THE MUNICIPAL CORPORATION SHALL  APPLY  TO
THE ENFORCEMENT AND COLLECTION OF SUCH UNPAID ASSESSMENTS.
  10.  ONE  OR  MORE  MUNICIPAL CORPORATIONS MAY ESTABLISH AN ASSESSMENT
DISTRICT TO FINANCE AN ENERGY EFFICIENCY IMPROVEMENT OR RENEWABLE ENERGY
SYSTEM BY PREPARING AND FILING IN THE OFFICE OF THE CLERK OF SUCH MUNIC-
IPAL CORPORATION A MAP OR PLAN OF THE PROPOSED BOUNDARIES OF THE ASSESS-
MENT DISTRICT, WHICH MAY BE NON-CONTIGUOUS. AFTER FILING  SUCH  PROPOSED
MAP  OR  PLAN,  THE  GOVERNING  BODY  OF THE MUNICIPAL CORPORATION SHALL
PUBLISH IN THE OFFICIAL PAPER, AT LEAST TEN DAYS BEFORE THE  HEARING,  A
NOTICE  OF THE FILING OF SUCH PROPOSED MAP OR PLAN, AND THAT AT A SPECI-
FIED TIME AND PLACE A HEARING WILL BE HAD TO  REVIEW  AND  FINALIZE  THE
SAME, AND THAT THE SAID MAP OR PLAN CAN BE EXAMINED BY ANY PERSON INTER-

S. 7683                             6

ESTED  THEREIN  AT  THE OFFICE OF THE APPLICABLE OFFICE OF THE MUNICIPAL
CORPORATION DURING USUAL BUSINESS HOURS,  PRIOR  TO  SUCH  HEARING.  THE
GOVERNING BODY SHALL MEET AT THE TIME AND PLACE SPECIFIED IN SUCH NOTICE
AND  HEAR  OBJECTIONS TO THE ASSESSMENT DISTRICT BOUNDARIES SET FORTH ON
SUCH PROPOSED MAP OR PLAN. IT MAY MODIFY AND CORRECT THE SAME AND ADD OR
EXCLUDE LAND TO OR FROM THE BOUNDARIES OF THE DISTRICT, AND MAY  ADJOURN
THE  HEARING  FROM  TIME  TO TIME WITHOUT FURTHER NOTICE AND, AS SOON AS
PRACTICABLE, SHALL FINALIZE SAID ASSESSMENT DISTRICT MAP  AND  FILE  THE
SAME IN THE APPROPRIATE OFFICE OF THE MUNICIPAL CORPORATION, AND PUBLISH
NOTICE  OF  SUCH  COMPLETION  AND FILING IN THE OFFICIAL PAPER, AT WHICH
TIME THE MAP SHALL BE DEEMED FINAL AND CONCLUSIVE.
  11. NO AMOUNT SHALL BE ASSESSED UPON ANY PROPERTY WITHIN AN ASSESSMENT
DISTRICT PURSUANT TO A SUSTAINABLE ENERGY FINANCING PROGRAM WITHOUT  THE
WRITTEN  CONSENT  OF ALL OWNERS OF SUCH PROPERTY, SET FORTH IN AN AGREE-
MENT WITH THE MUNICIPAL CORPORATION PROVIDING THE TERMS  AND  CONDITIONS
UPON  WHICH  FINANCING  WILL  BE PROVIDED TO AND REPAID BY THE OWNERS OF
SUCH PROPERTY.
  12. NOTHING IN THIS ARTICLE SHALL PREVENT  A  TOWN  FROM  ELECTING  TO
PROCEED UNDER SECTION TWO HUNDRED NINE-I OF THE TOWN LAW.
  S 5. This act shall take effect immediately.