If the Mayor determines that a bond issuance is in the interest of the District and promotes the goal of encouraging the installation of Energy Efficiency Improvements, a bond may be issued to, purchased by, or held by a Private Lending Institution that makes an Energy Efficiency Loan to a property owner. In this event, the proceeds of the bond may be paid directly to the property owner or the contractor installing the Energy Efficiency Improvements and not paid into the National Capital Energy Fund. The amount of the Energy Efficiency Loan shall be determined as provided in subchapter III of this chapter, and the Private Lending Institution shall be an additional party to the Energy Efficiency Loan Agreement. A bond held by a Private Lending Institution may be redeemed or transferred to another holder at the discretion of the Private Lending Institution.
Effect of Amendments
D.C. Law 19-262 added this section.