(a) The council may award grants or loans to school systems, charter schools, or the achievement school district for qualifying capital outlay projects as provided in § 49-17-103 after reviewing and approving:
(1) An energy audit performed by a qualified professional that is either chosen by the council or approved by the council; or
(2) A cost-benefit analysis that shows that incorporating energy efficient technologies provides a reasonable payback period.
(b) The council has the authority to adopt a charter and bylaws and shall promulgate rules, regulations and policies the council deems necessary to further the purposes and duties of the energy efficient schools council as defined in § 49-17-103 and this section. Any rules and regulations proposed by the council shall be promulgated in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5.
(c) It is the legislative intent that the council establish and operate its programs in a manner that makes funds available on an equitable basis for the benefit of LEAs of all sizes, characteristics, and geographical locations, charter schools, and the achievement school district.
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