(a) Constitutes the investment of surplus funds for the purpose of receiving interest or other earnings from the investment; or
(b) Is intended or useful for any purpose other than the production, supply or delivery of electricity on a cost-effective basis.
(2) Nothing in subsection (1) of this section prohibits a people’s utility district or a municipal electric utility from entering into any transaction for the acquisition, construction, improvement or equipping of a renewable energy facility or for the purchase or sale of electricity, electrical capacity or renewable energy certificates. [1999 c.683 §1; 2007 c.301 §40; 2007 c.895 §11]
Note: 261.348 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 261 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.
Structure 2021 Oregon Revised Statutes
Volume : 07 - Public Facilities and Finance
Chapter 261 - People’s Utility Districts
Section 261.010 - Definitions.
Section 261.050 - Taxation of district property.
Section 261.105 - Powers of district; formation; annexation; consolidation.
Section 261.110 - Areas includable in district; description of district in petition for election.
Section 261.115 - Contents of electors’ petition; certification.
Section 261.141 - Formation, annexation or consolidation by resolution; contents of resolution.
Section 261.161 - Hearing by county governing body; notice; determination of boundaries.
Section 261.171 - County governing body to call election; notice; dates.
Section 261.180 - Effect of annexation or consolidation on title to property and indebtedness.
Section 261.190 - Election of first board of directors; qualifications; tenure.
Section 261.210 - Payment of election expenses; security deposit.
Section 261.225 - State agencies and private utilities to provide new district certain information.
Section 261.235 - Definitions for ORS 261.235 to 261.255.
Section 261.240 - Policy; construction.
Section 261.250 - District liability; application of moneys; use of power of eminent domain.
Section 261.305 - General powers of district.
Section 261.315 - Acquisition of distribution facilities outside district.
Section 261.335 - Districts subject to public contracting and purchasing requirements.
Section 261.355 - Procedure for issuance and sale of revenue bonds.
Section 261.360 - Authority to issue general obligation bonds.
Section 261.365 - Bond requirements.
Section 261.375 - Election to authorize district bond issue.
Section 261.380 - Refunding district indebtedness.
Section 261.385 - Levy and collection of taxes for certain purposes.
Section 261.405 - Board of directors; election; qualifications.
Section 261.410 - Nomination and election of directors of established districts.
Section 261.415 - Vacancy in office of director.
Section 261.425 - Officers of board.
Section 261.430 - Board meetings.
Section 261.460 - Legislative function of board.
Section 261.465 - Board supervision and regulation of district utilities; fixing rates.
Section 261.470 - Accounting system adopted by board; annual reports; annual audit.
Section 261.605 - Testing validity of certain commission and board proceedings.
Section 261.610 - Nature of proceeding; notice; appearance to contest; court determinations.
Section 261.630 - Institution of proceeding by elector; directors as parties; notice.
Section 261.710 - Call of election; effect of favorable vote.