§39A-194 Conditions precedent to negotiating and entering into a project agreement. The department prior to entering into negotiations with any project party shall require that the State shall be reimbursed for any and all costs and expenses (direct or indirect) incurred by it in implementing and administering this part as determined by the department even though a project agreement may not be entered into and may further require the deposit of moneys with the department as security for such reimbursement. Any amount of such deposit in excess of the amount required to reimburse the State shall be returned by the department to the project party which has made such deposit. The State shall not be required to pay to the project party any interest or earnings on such deposit.

The department shall not enter into any project agreement with respect to any energy project unless the department shall first find and determine either that the project party is a responsible party, whether by reason of economic assets or experience in the type of enterprise to be undertaken through such project, or otherwise, or that the obligations of the project party under the project agreement will be unconditionally guaranteed by a person who is a responsible party, whether by reason of economic assets or experience in the type of enterprise to be undertaken through such energy project, or otherwise. [L 1981, c 151, pt of §2]