A. The trustees of a municipal energy district authority shall be authorized to:

1. Manage and conduct the business and affairs of the authority;

2. Make and execute all necessary contracts;

3. Secure funding through sources which may include:

a.issuance of notes or bonds,

b.public or private lenders,

c.grants or loans from other governmental entities when funds are available, or

d.any other public or private funding source;

4. Make loans directly to willing and consenting property owners or through a financial institution for the following purposes:

a.to finance the purchase and installation of distributed-generation renewable energy sources,

b.to make energy-efficient improvements or retrofits that are permanently affixed to residential, commercial, or industrial property,

c.to conduct residential and commercial building energy audits, and

d.to establish financial incentive programs for energy-efficient improvements; and

5. Make loans or other repayment mechanisms for capital expenditures available to implement green community programs and qualified energy-conservation projects.

B. The trustees of an energy district authority shall coordinate with electric utilities that provide electric service within the borders of the municipality on programs offered by the authority pursuant to the Oklahoma Municipal Energy Independence Act. No program offered by a municipal energy district authority shall be used directly or indirectly to compete against an electric service provider's similar program within the borders of the municipality for electric customers.

Added by Laws 2011, c. 103, § 4, eff. Nov. 1, 2011.