Sec. 7-224. Purchase by municipality of plant owned by a corporation.
Sec. 7-224. Purchase by municipality of plant owned by a corporation. When
any municipality decides to establish a plant and any corporation incorporated by the
General Assembly for the purpose of furnishing gas or electric light, heat or power is,
at the time of the first vote required for such decision, engaged in the business of making,
generating or distributing gas or electricity, for sale for lighting purposes to consumers
in such municipality, such municipality shall, if such corporation elects to sell and comply with the provisions of this chapter, before establishing its plant, purchase of such
corporation such portion of its gas plant and property suitable and used for such business
or in connection therewith, if the municipality has decided to establish a gas plant, or
of its plant for electric lighting, and property suitable and used for such business or in
connection therewith, if such municipality has decided to establish an electric lighting
plant, as has, at the time of the first vote, been in use in or acquired for such business
in such municipality. If, in any such municipality, a single corporation owns or operates
both a gas plant and an electric plant, such purchase shall include both of such plants.
For the purposes of this chapter, such municipality may purchase such gas plant or
electric plant or both, whether the same is located within or without the limits of such
municipality, provided such plant is being used for the purpose of making, generating
or distributing gas or electricity for sale for lighting purposes in such municipality.
(1949 Rev., S. 721.)