(50 ILCS 50/20)
    Sec. 20. Report. The report on the proposed program required under Section 15 shall include all of the following:
        (1) a form of assessment contract between the local
unit of government and record owner governing the terms and conditions of financing and assessment under the program.
        (2) identification of an official authorized to enter
into a assessment contract on behalf of the local unit of government;
        (3) a maximum aggregate annual dollar amount for all
financing to be provided by the program administrator under the program;
        (4) an application process and eligibility
requirements for financing energy projects under the program;
        (5) a method for determining interest rates on
assessment installments, repayment periods, and the maximum amount of an assessment;
        (6) an explanation of how assessments will be made
and collected;
        (7) a plan to raise capital to finance improvements
under the program pursuant to the sale of bonds, subject to the Special Assessment Supplemental Bond and Procedures Act, to a program administrator;
        (8) information regarding all of the following, to
the extent known, or procedures to determine the following in the future:
            (A) any revenue source or reserve fund or funds
to be used as security for bonds described in paragraph (7); and
            (B) any application, administration, or other
program fees to be charged to record owners participating in the program that will be used to finance costs incurred by the local unit of government as a result of the program;
        (9) a requirement that the term of an assessment not
exceed the useful life of the energy project paid for by the assessment; provided that the local unit of government may allow projects that consist of multiple improvements with varying lengths of useful life to have a term that is no greater than the improvement with the longest useful life;
        (10) a requirement for an appropriate ratio of the
amount of the assessment to the assessed value of the property or market value of the property as determined by a recent appraisal no older than 12 months;
        (11) a requirement that the record owner of property
subject to a mortgage obtain written consent from the mortgage holder before participating in the program;
        (12) provisions for marketing and participant
        (13) provisions for an adequate debt service reserve
fund, if any; and
        (14) quality assurance and antifraud measures.
(Source: P.A. 100-77, eff. 8-11-17.)