HOUSE BILL No. 5384

 

October 30, 2007, Introduced by Reps. Nofs, Caswell, Moore, Moolenaar, Caul, Walker, Booher, Hansen, Opsommer, Nitz, Palsrok, Accavitti, Brown, Clemente, Angerer, Mayes, Meadows, Farrah, Hopgood, Melton, Hammon, Bauer and Lemmons and referred to the Committee on Energy and Technology.

 

      A bill to amend 1976 PA 448, entitled

 

"Michigan energy employment act of 1976,"

 

by amending sections 3, 5, 6, 9, 11, 21, 24, 31, 34, 36, 37, 43,

 

and 44 (MCL 460.803, 460.805, 460.806, 460.809, 460.811, 460.821,

 

460.824, 460.831, 460.834, 460.836, 460.837, 460.843, and

 

460.844), section 5 as amended by 2002 PA 513 and section 44 as

 

amended by 2002 PA 532, and by adding section 33a.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

 1        Sec. 3. (1) "Electric utility facility" means a facility

 

 2  which a municipality is authorized to acquire as part of a

 

 3  municipal electric utility system under this act or other law.

 

 4        (2) "Governing body" means the council, commission, or board

 

 5  of trustees of a municipality, or when the charter of a

 

 6  municipality provides that a separate board has general

 

 7  management over the municipal electric utility system, "governing


 

 1  body" means that separate board, subject to review by the

 

 2  legislative body of the municipality as its charter may provide.

 

 3        (3) "Governmental unit" means a municipality or a joint

 

 4  agency. venture project.

 

 5        (4) "Joint venture" means a project undertaken by 2 or more

 

 6  municipalities, or 1 or more municipalities in conjunction with 1

 

 7  or more joint agencies, electric power cooperatives, publicly or

 

 8  privately owned utilities, authorities, or other public or

 

 9  private bodies, organized in accordance with article 2.

 

10        (4) (5) "Joint agency" means a public body corporate and

 

11  politic consisting of a combination of 2 or more municipalities,

 

12  authorities, or other public bodies organized in accordance with

 

13  under article 3.

 

14        Sec. 5. (1) "Project" means a system or facility, inside or

 

15  outside the state, or service related to a system or facility

 

16  inside or outside the state, for the generation, transmission, or

 

17  transformation of electricity, in whole or in part, or for sale

 

18  to or use by a municipal electric utility system or joint agency

 

19  by any means. Project also means stock, membership units,

 

20  contractual interests, or any other interest in a system or

 

21  facility, inside or outside of the state, for the generation,

 

22  transmission, or transformation of electricity or in a multistate

 

23  regional transmission system organization approved by the federal

 

24  government and operating in this state or a transmission-owning

 

25  entity which is a member of a multistate regional transmission

 

26  system organization approved by the federal government and

 

27  operating in this state.


 

 1        (2) "Project cost" includes, but is not limited to, the cost

 

 2  of acquisition, construction, improvement, or extension of a

 

 3  project, the cost of studies, plans, specifications, surveys, and

 

 4  estimates of related costs and revenues, the cost of land, land

 

 5  rights, rights of way, easements, water rights, fees, permits,

 

 6  approvals, licenses, certificates, franchises, and the

 

 7  preparation of any required applications, engineering and

 

 8  inspection expenses, financing costs, working capital, fuel

 

 9  costs, interest on bonds, establishment of reserves, and all

 

10  other costs of the municipality or joint agency that are

 

11  incidental, necessary, or convenient to the acquisition,

 

12  construction, improvement, or extension of a project.

 

13        Sec. 6. (1) "Person" means an individual, corporation,

 

14  association, partnership, governmental entity, or any other legal

 

15  entity.

 

16        (2) (1) "Power utility" means any of the following entities

 

17  engaged person engaged or that may engage, inside or outside the

 

18  state, in generating, transmitting, or distributing or furnishing

 

19  electricity. : a political subdivision of this or another state

 

20  or a Canadian province; an agency of this or another state, a

 

21  federal agency, or a Canadian federal or provincial agency; or a

 

22  cooperative or investor owned entity subject to the regulation of

 

23  the Michigan public service commission or the equivalent

 

24  regulatory agency of another state.

 

25        (3) (2) "Power utility bond" means electric utility bonds,

 

26  notes, or other evidences of indebtedness of a municipality,

 

27  including refunding bonds issued to underwrite projects


 

 1  authorized by this act.

 

 2        (4) (3) "Revenues" means all fees, charges, moneys, profits,

 

 3  payment of principal of, or interest on, municipal or power

 

 4  utility bonds, or other gifts, grants, contributions and

 

 5  appropriations.

 

 6        Sec. 9. The governing body of a municipal electric utility

 

 7  system may purchase, acquire, construct, improve, enlarge,

 

 8  extend, or repair facilities for the transmission of energy, and

 

 9  may contract for the purchase, sale, exchange, interchange,

 

10  wheeling, pooling, or transmission of electrical energy with

 

11  another power utility for a consideration and for a period and

 

12  upon other terms and conditions as may be determined by the

 

13  parties to the agreement.

 

14        Sec. 11. A municipality engaging in a joint venture, joint

 

15  agency agreement, or other joint endeavor described in section 10

 

16  and authorized by article 2 or article 3 shall own a percentage

 

17  of any common facility equal to the percentage of the money

 

18  furnished or the value of the property supplied by the

 

19  municipality for the acquisition and construction of the common

 

20  facility, except in the case of a facility at least 2/3 of which

 

21  is owned or to be owned by a state, a political subdivision of

 

22  this or another state or a Canadian province, an agency of this

 

23  or another state or of a political subdivision of this state or

 

24  another state, a federal agency, or a Canadian federal or

 

25  provincial agency or agency of a political subdivision of a

 

26  Canadian province, or any corporation or other entity controlled

 

27  directly or indirectly by 1 or more of the entities listed above,


 

 1  in which case ownership shall be as provided in the contract

 

 2  between the municipality or joint agency and the entity owning or

 

 3  to own at least 2/3 of the facility. Each municipality in a joint

 

 4  endeavor shall defray its own interest and other payments

 

 5  required to be made in connection with a financing undertaken by

 

 6  it to pay its own percentage of the money furnished or the value

 

 7  of the property supplied by it for the planning, acquisition, and

 

 8  construction of a common facility, or an addition or betterment

 

 9  to the common facility. The agreement shall provide a uniform

 

10  method of determining and allocating operation and maintenance

 

11  expenses of the joint facility or agency.

 

12        Sec. 21. (1) A governmental unit may join in a joint venture

 

13  agreement to plan, finance, develop, construct, reconstruct,

 

14  acquire, improve, enlarge, better, own, operate, or maintain an

 

15  undivided interest as a tenant in common in a project situated

 

16  within or without the state with 1 or more municipalities, joint

 

17  agencies, or power utilities; and make plans and enter into

 

18  contracts in connection therewith with that project, not

 

19  inconsistent with this act, as are necessary or appropriate.

 

20        (2) Before entering a joint venture agreement, the governing

 

21  body of a municipality shall determine the needs of the

 

22  municipality for power and energy based on engineering studies

 

23  and reports. In determining the future power requirements of a

 

24  municipality, the following shall be considered:

 

25        (a) The economies and efficiencies to be achieved in

 

26  constructing on a large scale facilities for the generation and

 

27  transmission of electric power and energy.


 

 1        (b) The municipality's need for reserve and peaking

 

 2  capacity, and to meet obligations under pooling and reserve

 

 3  sharing agreements reasonably related to its needs for power and

 

 4  energy to which it is or may become a party.

 

 5        (c) The estimated useful life of the project.

 

 6        (d) The estimated time necessary for the planning,

 

 7  development, acquisition, or construction of the project, and the

 

 8  length of time required in advance to obtain, acquire, or

 

 9  construct additional power supply.

 

10        (e) The reliability and availability of existing or

 

11  alternative power supply sources, and the cost of those existing

 

12  or alternative power supply sources.

 

13        Sec. 24. (1) Capacity or output derived by a governmental

 

14  unit from its ownership share of a project not then required by

 

15  the governmental unit for its own use and for the use of its

 

16  customers may be sold or exchanged by the governmental unit for a

 

17  consideration and for a period and upon other terms and

 

18  conditions as may be determined by the parties to the sale.

 

19        (2) Municipalities proposing to jointly plan, finance,

 

20  develop, own and operate a project, may either jointly or

 

21  separately apply to the appropriate agencies of the state, the

 

22  federal government, another state, or another proper agency, for

 

23  the necessary licenses, permits, certificates, or approvals; may

 

24  construct, maintain, and operate the project in accordance with

 

25  the licenses, permits, certificates, or approvals; and may

 

26  obtain, hold, and use the licenses, permits, certificates, or

 

27  approvals in the same manner as the operating unit of any other


 

 1  power utility.

 

 2        (3) Municipalities participating in a joint project or

 

 3  projects may enter into contracts for the purchase, sale,

 

 4  exchange, interchange, wheeling, pooling, or transmission of

 

 5  electric power and energy produced by the project or projects

 

 6  with a municipality of this state or another state owning

 

 7  electric distribution facilities, with an electric membership

 

 8  corporation, with a public utility, or with a state, federal, or

 

 9  municipal agency which owns electric generation, transmission, or

 

10  distribution facilities in this state or another state power

 

11  utility.

 

12        (4) Personnel appointed by a municipality to work on a joint

 

13  project shall have the same authority, rights, privileges, and

 

14  immunities which that the officers, agents, and employees of the

 

15  appointing municipality enjoy within the jurisdictional

 

16  boundaries of the municipality, whether within or without that

 

17  territory, when the personnel are acting within the scope of

 

18  their authority or within the course of their employment.

 

19        (5) Municipalities party to a joint project authorized by

 

20  this article shall, following the end of each fiscal year,

 

21  prepare an annual report of the activities of the project,

 

22  including a complete operating and financial statement covering

 

23  the operations of the project for that year. The municipalities

 

24  shall cause conduct an audit of the books of records and accounts

 

25  of the project to be made not less than annually by a certified

 

26  public accountant, and the cost of the audit may be treated as

 

27  part of the cost of construction of the project, or as part of


 

 1  the expense of administering the project covered by the audit.

 

 2        Sec. 31. A joint agency is formed when the governing bodies

 

 3  of 2 or more municipalities by resolution determine that it is in

 

 4  the best interest of the municipalities engaged in generation,

 

 5  transmission or distribution of electricity as of the effective

 

 6  date of this act, in accomplishing the purposes of this act to

 

 7  create a joint agency for the purpose of undertaking the

 

 8  planning, financing, development, acquisition, construction,

 

 9  reconstruction, improvement, enlargement, betterment, operation,

 

10  or maintenance of a project or projects to supply electric power

 

11  and energy for their present or future needs as an alternative or

 

12  supplemental method of obtaining the benefits and assuming the

 

13  responsibilities of ownership in a project. In determining

 

14  whether the creation of a joint agency for this purpose is in the

 

15  best interest of a municipality, the governing body of each

 

16  municipality shall consider, but shall not be limited to, the

 

17  following:

 

18        (a) Whether a separate entity may be able to finance the

 

19  cost of projects in a more economic and efficient manner.

 

20        (b) Whether financial market acceptance may be enhanced if 1

 

21  entity is responsible for issuing and selling all of the bonds

 

22  required for a project or projects in a timely and orderly manner

 

23  and with a uniform credit rating, instead of multiple entities

 

24  marketing their separate issues of bonds.

 

25        (c) Whether savings and other advantages may be obtained by

 

26  providing a separate entity responsible for the acquisition,

 

27  construction, ownership, and operation of a project or projects.


 

 1        (d) Whether the existence of a separate entity will foster

 

 2  the continuation of joint planning and undertaking of projects,

 

 3  and the resulting economies and efficiencies to be realized from

 

 4  the joint planning and undertaking will serve the interests of

 

 5  the residents of the municipality. The determination made by the

 

 6  governing body of a municipality hereunder shall be conclusive.

 

 7        Sec. 33a. (1) Records, books, documents, and papers of a

 

 8  joint agency or a municipal electric utility system, including

 

 9  those maintained electronically, may be exempted from public

 

10  disclosure by the board of commissioners of the joint agency or

 

11  the governing body of the municipal electric utility system if

 

12  any of the following apply:

 

13        (a) They contain specific pricing or other confidential or

 

14  proprietary information.

 

15        (b) They pertain to the development, construction,

 

16  financing, or leasing of a project.

 

17        (c) They contain information which was received from a power

 

18  utility or other person and which is subject to a confidentiality

 

19  agreement.

 

20        (2) Upon a showing of good cause, disclosure subject to

 

21  appropriate confidentiality provisions may be ordered by a court.

 

22        Sec. 34. (1) A joint agency formed for the purposes provided

 

23  in this article is hereby made a public body politic and

 

24  corporate and the powers conferred by this act shall be deemed

 

25  and held are considered to be the performance of an essential

 

26  public function.

 

27        (2) (1) Any combination of 2 or more municipalities


 

 1  described in section 31 may incorporate a joint agency by the

 

 2  adoption of articles of incorporation by resolution of the

 

 3  governing body of each municipality. The fact of adoption shall

 

 4  be endorsed on the articles of incorporation by the chief

 

 5  executive officer and clerk of the municipality, in form

 

 6  substantially as follows:

 

 

               The foregoing articles of incorporation

          were adopted by the ___________________________,

          of the_________, of ____________________ county,

10           Michigan, at a meeting duly held on the ____ day

11           of ____________, 19_____.

12                                     ______________________________

13                                     ______________________ of said

14                                     ______________________________

15                                     ______________________ of said

16                                     _____________________________.

 

 

17        (3) The articles of incorporation shall be published at

 

18  least once in a newspaper or newspapers designated in the

 

19  articles and generally circulating within the area of each

 

20  municipality. One printed copy of the articles of incorporation,

 

21  certified as a true copy by the person or persons designated in

 

22  the articles, with the date and place of the publication, shall

 

23  be filed with the county clerk or clerks of the county or

 

24  counties in which the incorporating municipalities are located

 

25  and the secretary of state. The incorporation of the joint agency

 

26  shall become effective at the time provided in the articles of

 

27  incorporation. The validity of the joint agency incorporation


 

 1  shall be conclusive unless questioned in a court of competent

 

 2  jurisdiction within 60 days after the filing of certified copies

 

 3  with the county clerk or clerks and the secretary of state.

 

 4        (4) (2) The articles of incorporation shall state the name

 

 5  of the joint agency, the names of the various incorporating

 

 6  municipalities, the purpose or purposes for which it is created,

 

 7  the powers, duties, and limitations of the joint agency and its

 

 8  officers, the method of selecting its governing body, officers,

 

 9  and employees, the person or persons who are charged with the

 

10  responsibility for causing the articles of incorporation to be

 

11  published and filed or who are charged with the responsibility in

 

12  connection with the incorporation of the joint agency, the place

 

13  of publication, and all other matters which the incorporating

 

14  municipalities shall deem consider advisable, all of which shall

 

15  be subject to the provisions of article 3. of this act and of the

 

16  constitution and laws of the state.

 

17        (5) The board of commissioners of a joint agency may, by

 

18  resolution, authorize the establishment of 1 or more classes of

 

19  associate membership in the joint agency. A municipality admitted

 

20  as an associate member shall have participatory and other rights

 

21  and obligations as provided in the resolution establishing the

 

22  associate membership class or classes.

 

23        (6) (3) Any A municipality described in section 31 which did

 

24  not join in the original incorporation of a joint agency may

 

25  become a constituent part thereof by amendment to the articles of

 

26  incorporation adopted member or an associate member of the joint

 

27  agency by the adoption of a resolution by the governing body of


 

 1  the municipality and by the governing body of each existing

 

 2  member municipality of which the joint agency is composed a

 

 3  resolution unanimously adopted by all members of the board of

 

 4  commissioners of the joint agency. The resolution of the board of

 

 5  commissioners may provide that a municipality shall become a

 

 6  member or an associate member at a future date or upon the

 

 7  occurrence of a future event and may provide further that the

 

 8  decision of the board of commissioners may not be revoked without

 

 9  the consent of the governing body of the municipality being added

 

10  as a member or associate member. Upon the addition of a new

 

11  member or associate member, the articles of incorporation shall

 

12  be conformed by the board of commissioners to show the addition

 

13  of the new member or associate member and, if the municipality is

 

14  being added as an associate member, the rights and obligations of

 

15  the municipality as an associate member. Other amendments may be

 

16  made to the articles of incorporation if adopted by the governing

 

17  body of each municipality of which the joint agency is composed.

 

18  An amendment shall be endorsed, published and certified and

 

19  printed copies filed in the same manner as the original articles

 

20  of incorporation, except that printed copies shall also be

 

21  certified and filed by the recording officer of the joint agency

 

22  an amendment showing only the addition of a new member or

 

23  associate member and the rights and obligations of a new

 

24  associate member need not be published.

 

25        Sec. 36. After the creation of a joint agency, another

 

26  municipality may become a member of the joint agency upon

 

27  application to the joint agency after the adoption of a


 

 1  resolution of the governing body of the municipality as

 

 2  prescribed in section 31 of this article authorizing the

 

 3  municipality to participate, and with the unanimous consent of

 

 4  the members of the joint agency evidenced by the resolutions of

 

 5  each of their governing bodies as provided in section 34(6). A

 

 6  municipality may withdraw from a joint agency, except that all

 

 7  contractual rights acquired and obligations incurred while a

 

 8  member municipality remain in full force and effect.

 

 9        Sec. 37. A joint agency shall have the rights and powers

 

10  necessary and convenient to carry out and effectuate the purposes

 

11  and provisions of effectuate this article, including, but not

 

12  limited to, 1 or more of the following:

 

13        (a) To adopt bylaws for the regulation of the affairs and

 

14  conduct of its business, and to prescribe rules, regulations, and

 

15  policies in connection with the performance of its functions and

 

16  duties.

 

17        (b) To adopt and alter an official seal. and alter the same

 

18  at pleasure.

 

19        (c) To maintain an office at a place or places as it may

 

20  determine 1 or more offices.

 

21        (d) To sue and be sued. in its own name, and to plead and be

 

22  impleaded.

 

23        (e) To receive, administer, and comply with the conditions

 

24  and requirements respecting a gift, grant, or donation of

 

25  property or money.

 

26        (f) To acquire by purchase, lease, gift, or otherwise , or

 

27  to obtain options for the acquisition of , real or personal


 

 1  property, improved or unimproved, including less than a fee

 

 2  interest in land or any interest in real property.

 

 3        (g) To sell, lease, exchange, transfer, or otherwise dispose

 

 4  of, or to grant options for those purposes with respect to, the

 

 5  disposal of any real or personal property or an interest therein

 

 6  in such property.

 

 7        (h) To pledge or assign money, rents, charges, or other

 

 8  revenues or the proceeds derived by the joint agency from the

 

 9  sales of real or personal property, insurance, or condemnation

 

10  awards.

 

11        (i) To issue bonds of the joint agency for the purpose of

 

12  providing funds for any of its corporate purposes.

 

13        (j) To study, plan, finance, construct, reconstruct,

 

14  acquire, participate in by contract or otherwise, improve,

 

15  enlarge, extend, better, own, operate, or maintain, 1 or more

 

16  projects, and to pay all or a part of the costs of the projects

 

17  from the proceeds of bonds of the joint agency or from other

 

18  funds made available to the joint agency.

 

19        (k) To authorize the construction, operation, or maintenance

 

20  of a project or projects by a person, firm, or corporation,

 

21  including a political subdivision or agency of another state.

 

22        (l) To acquire by lease, purchase, or otherwise an existing

 

23  project or a project under construction.

 

24        (m) To sell or otherwise dispose of a project or projects.

 

25        (n) To fix, charge, and collect rents, rates, fees, and

 

26  charges for electric power or energy or other services,

 

27  facilities, or commodities sold, furnished, or supplied through a


 

 1  project.

 

 2        (o) To generate, produce, transmit, deliver, exchange,

 

 3  purchase or sell for resale only or sell at retail under section

 

 4  10y of 1939 PA 3, MCL 460.10y, electric power or energy. , and to

 

 5  enter into contracts for those purposes.

 

 6        (p) To negotiate and to enter into contracts for the

 

 7  generation, production, purchase, sale, exchange, interchange,

 

 8  wheeling, pooling, transmission, delivery, or use of electric

 

 9  power and energy with a municipality in this state or another

 

10  state or a Canadian province owning electric distribution

 

11  facilities, and electric membership corporation, a public

 

12  utility, or a state, federal, or municipal agency which owns

 

13  electric generation, transmission, or distribution facilities in

 

14  this state or another state a power utility.

 

15        (q) To make and execute contracts and other instruments

 

16  necessary or convenient in the exercise of the powers and

 

17  functions of the joint agency under this article. , including

 

18  contracts with persons, firms, corporations, and others.

 

19        (r) To apply to and obtain from the appropriate agencies of

 

20  the state, the federal government, another state, or other proper

 

21  agency for state or federal agency the necessary permits,

 

22  licenses, certificates, or approvals , and to construct,

 

23  maintain, and operate projects. in accordance with the licenses,

 

24  permits, certificates, or approvals, and to obtain, hold, and use

 

25  the licenses, permits, certificates, and approvals in the same

 

26  manner as another person or operating unit of another person.

 

27        (s) To employ engineers, architects, attorneys, real estate


 

 1  counselors, appraisers, financial advisors, and other consultants

 

 2  and employees persons as may be required in the judgment of the

 

 3  joint agency, and to fix and pay their compensation from funds

 

 4  available to the joint agency for that purpose by the joint

 

 5  agency.

 

 6        (t) To do all acts and things necessary, convenient, or

 

 7  desirable to carry out the purposes, and to execute the powers

 

 8  granted to the joint agency under this act.

 

 9        Sec. 43. (1) A municipality which is a member of a joint

 

10  agency may contract to buy power and energy and transmission or

 

11  other related rights from the joint agency, and separately, or

 

12  through the joint agency, from any other power utility, required

 

13  for the municipality's present or future requirements, including

 

14  the capacity and output of 1 or more specified projects. The

 

15  contract may provide that the member municipality or the joint

 

16  agency, or both, shall be obligated to make the payments required

 

17  by the contract whether or not a project is completed, operable,

 

18  or operating, and notwithstanding the suspension, interruption,

 

19  interference, reduction, or curtailment of the output of a

 

20  project or the power and energy contracted for, and that the

 

21  payments under the contract shall not be subject to a reduction

 

22  whether by offset or otherwise, and shall not be conditioned upon

 

23  the performance or nonperformance of the joint agency or power

 

24  utility or another member of the joint agency, or any other

 

25  participant in a project within or outside the state, under the

 

26  contract or other instrument. A contract with respect to the sale

 

27  or purchase of capacity or output of a project entered into


 

 1  between a joint agency and its member municipalities, or between

 

 2  a joint agency or 1 or more of its members and another power

 

 3  utility, may also provide that if 1 or more of the municipalities

 

 4  members of the joint agency or other participants in a project of

 

 5  a power utility default in the payment of its or their

 

 6  obligations with respect to the purchase of the capacity or

 

 7  output, then the remaining member municipalities and other

 

 8  participants which are purchasing capacity and output under the

 

 9  contract are, subject to such conditions and limitations, if any,

 

10  as the contract may provide, required to accept and pay for and

 

11  shall be entitled proportionately to and may use or otherwise

 

12  dispose of the capacity or output which was to be purchased by

 

13  the defaulting municipality or other participant.

 

14        (2) Payments by a municipality under a contract for the

 

15  purchase of capacity and output from a joint agency or other

 

16  power utility shall be made solely from the revenues derived from

 

17  the ownership and operation of the electric system of the

 

18  municipality, and an obligation under the contract shall not

 

19  constitute a legal or equitable pledge, charge, lien, or

 

20  encumbrance upon property of the municipality or upon the

 

21  municipality's income, receipts, or revenues, except the revenues

 

22  of its electric system. Subject to any debt or debt-related

 

23  contracts or indentures of a municipality or joint agency,

 

24  payments described in this subsection shall be made as part of

 

25  the operating and maintenance costs of the municipality's or

 

26  agency's system. A municipality is obligated to fix, charge, and

 

27  collect rents, rates, fees, and charges for electric power and


 

 1  energy and other services, facilities, and commodities, sold,

 

 2  furnished, or supplied through its electric systems sufficient to

 

 3  provide revenues adequate to meet its obligations under the

 

 4  contract, and to pay other amounts payable from or constituting a

 

 5  charge and lien upon those revenues, including amounts sufficient

 

 6  to pay the principal of and interest on general obligation bonds

 

 7  issued by the municipality for purposes related to its electric

 

 8  system.

 

 9        (3) A municipality which is a member of a joint agency may

 

10  furnish the joint agency with money derived solely from the

 

11  ownership and operation of its electric system or facilities and

 

12  provide the joint agency with personnel, equipment, and property,

 

13  both real and personal. A member municipality may also provide

 

14  services to a joint agency.

 

15        (4) A member municipality of a joint agency may contract

 

16  for, advance, or contribute funds derived solely from ownership

 

17  of its electric system or facilities to a joint agency as may be

 

18  agreed upon by the joint agency and member municipality, and the

 

19  joint agency shall repay the advance or contribution from the

 

20  proceeds of bonds, from operating revenues, or from other funds

 

21  of the joint agency, together with interest thereon as may be

 

22  agreed upon by the member municipality and the joint agency.

 

23        Sec. 44. (1) A joint agency may sell or exchange the excess

 

24  capacity or output of a project not required by any of its

 

25  members for consideration upon terms and conditions as determined

 

26  by the parties. The sale or exchange of excess capacity or output

 

27  shall not be made with a municipality not engaged in the


 

 1  generating, transmitting, or distributing of electricity as of

 

 2  January 13, 1977, unless no other power utility is willing to

 

 3  enter into a sale or exchange upon equally favorable terms and

 

 4  conditions.

 

 5        (2) A joint agency may do either or both 1 or more of the

 

 6  following:

 

 7        (a) Transfer all or part of its interest in or functional

 

 8  control of transmission facilities to a multistate regional

 

 9  transmission system organization approved by the federal

 

10  government and operating in this state or to 1 or more of its

 

11  transmission-owning members.

 

12        (b) Purchase, acquire, sell, or otherwise transfer stock,

 

13  membership units, or any other interest in a multistate regional

 

14  transmission system organization approved by the federal

 

15  government and operating in this state or in 1 or more of its

 

16  transmission-owning members.