390.8 - EQUITY INVESTMENT IN INDEPENDENT TRANSMISSION COMPANY.

        390.8  EQUITY INVESTMENT IN INDEPENDENT TRANSMISSION      COMPANY.         In addition to the powers conferred upon a city elsewhere in this      chapter, any city operating a city electric utility on January 1,      2003, may enter into agreements with and acquire equity interests in      independent transmission companies or similar independent      transmission entities in which they are participating that are      approved by the federal energy regulatory commission.  The purpose of      such equity investments shall be to mitigate expenses incurred by the      city electric utility due to its procurement of electric transmission      service or to otherwise facilitate investment in transmission      facilities and shall not be for general city or city utility      investment purposes.  
         Section History: Recent Form
         2003 Acts, ch 116, §1