TITLE 67

STATE GOVERNMENT AND STATE AFFAIRS

CHAPTER 38

COMMERCIAL PROPERTY ASSESSED CAPITAL EXPENDITURE ACT

67-3810.  recording OF CERTAIN Documents required. (1) A local government that authorizes financing through special assessments pursuant to this chapter shall:

(a)  File a written notice of assessment and C-PACE lien in the records of the office of the county register of deeds of the county in which the property is located. The notice must contain:

(i)   The amount of the assessment;

(ii)  The legal description of the property;

(iii) The name of each property owner;

(iv)  A copy of the written assessment contract; and

(v)   A reference to this chapter authorizing the placement of the assessment and C-PACE lien on the property;

(b)  File and record each C-PACE lien in the real property records of the county in which the property is located. The recording must contain:

(i)   The legal description of the property;

(ii)  The name of each property owner;

(iii) The date on which the lien was created;

(iv)  The principal amount of the lien; and

(v)   The term of the lien; and

(c)  Record the executed assignment of the assessment agreement, notice of assignment of assessment, and C-PACE lien.

(2)  A local government may delegate the recording responsibilities set forth in subsection (1) of this section to the capital provider receiving the assignment. If billing, collection, and enforcement are delegated to the capital provider, a copy of the assignment and delegation shall be recorded in addition to the requirements of subsection (1) of this section.

History:

[67-3810, added 2024, ch. 239, sec. 1, p. 856.]