This proposal provides an exception to the general rule that prohibits a state agency from entering into contracts with private vendors that obligate payments beyond the funds available to the agency within the fiscal year. It would permit the General Assembly to authorize by general law state governmental entities to incur debt for the purpose of entering into contracts extending for not more than ten years for governmental energy efficiency or conservation improvement projects in which payments are guaranteed over the term of the contract by vendors based on the realization of specified savings or revenue gains attributable solely to the improvements.
The General Assembly has enacted a law to exercise the authority granted by the proposed constitutional amendment. This law will become effective only if the constitutional amendment is ratified by the voters. This law is published at Georgia Laws 2010, p. 1091, and was enacted by 2010 Senate Bill 194, Act No. 669.
A copy of this entire proposed constitutional amendment is on file in the office of the judge of the probate court and is available for public inspection.
Shall the Constitution be amended so as to provided for guaranteed cost savings for the state by authorizing a state entity to enter into multiyear contracts which obligate state funds for energy efficiency or conservation improvement projects?
( ) YES
( ) NO