(a) As used in this section the words electric board shall mean the Electric Power Board of the City of Scottsboro, Alabama, in Jackson County, a corporation organized under Title 37, Section 402 (15), and existing under the authority of Sections 11-50-310 et al.
(b) In addition to all other powers, rights, and authority heretofore granted by law:
(1) The electric board is hereby authorized and empowered to acquire, purchase, construct, lease, operate, maintain, enlarge, extend, and improve a community antenna television system, CATV, which may be defined, without limiting the generality, as a facility that in whole or in part, receives directly, or indirectly, or over the air, and amplifies or otherwise modifies the signal transmitting programs broadcast by one or more television or radio stations from any point within this state or any other state and distributes such signals by wire or cable or any other means to subscribing members of the public who pay for such service.
(2) The electric board is hereby authorized and empowered to acquire, purchase, lease, construct, operate, maintain, enlarge, extend, and improve a system of auxiliary services which may be identified generally as any communication service, in addition to the CATV transmissions, which shall include, but be not limited to, burglar alarm systems, data transmissions, facsimile service, home shopping service, and any allied or similar communications services.
(c) For the purposes of this section, such electric board may exercise the right of eminent domain. Such eminent domain proceedings shall be conducted in the manner now provided by law.
(d)(1) In payment for the purchase, lease, construction, acquisition, extension, or maintenance of such CATV system, the electric board may issue bonds in the manner provided by law.
(2) The electric board, in order to secure the prompt and faithful payment of the principal and interest of all debts, bonds, or other evidences of indebtedness incurred or issued by it for the construction, acquisition, lease, extension, or maintenance of a CATV system may execute a mortgage or deed of trust upon any or all of such system and all property used solely in connection therewith, including the franchise or any part thereof.
(3) The mortgage or deed of trust may contain such terms, conditions, covenants, and warranties for the protection of the electric board and holders of such bonds or securities issued by such electric board as may be determined and agreed upon by the governing body of the electric board and persons, firms, or corporations owning such debts, bonds, or securities.
(4) Such mortgages may provide that in the event of the foreclosure of such mortgage or deed of trust, that the purchaser at such foreclosure may acquire the right, privilege, or franchise of operating such system as may be sold or conveyed, and such purchaser or his or her vendee may have the right, authority, and privilege to carry on and operate such system in the same manner, on the same terms, and to the same extent as the electric board is authorized to operate until the electric board may redeem such system from such mortgage sale.
(5) Such mortgage or deed of trust may provide that during the ownership of the system by the electric board, its control of the service of the system shall not be diminished or interfered with by the grant of any other franchise for the operation of any other plant or system for similar purposes; and that such rates and charges shall be established and maintained as are sufficient to meet the costs of operation and maintenance; and such electric board may pledge all of the receipts, earnings, and revenues from the operation of the system for the payment of the debts, bonds, or other evidences of indebtedness secured by such mortgages or deeds of trust..
(e) The electric board furnishing CATV service pursuant to this section shall have the right to require any person furnishing television cable service to the public within its jurisdiction to inter-connect the television cable, lines, facilities, or systems furnishing such service with, or otherwise make available such cables, lines, facilities, or systems to the electric board’s television cable, lines, facilities, or system in order to provide a continuous line of communication for the electric board’s subscribers
(f) The electric board shall have all the power and authority necessary and proper to the exercise of the powers conferred on it by this section and in effectuating the purposes of this section.
(g) For the transaction of business pursuant to this section, the electric board shall be exempt from the jurisdiction and control of the Alabama Public Service Commission with respect to such business.
(h) No provision of this section shall be used to constitute the incurring of a debt by the electric board within the state constitutional provisions or statutory limitations on debts of the City of Scottsboro.