Sec. 5. Sale of Capacity or Output by a Municipality. Whenever a municipality has capacity or output derived from its ownership share of a project or otherwise in excess of its current needs or which cannot be economically utilized immediately, it may sell or exchange the excess capacity or output, by agreement, to any municipality owning electric distribution facilities, to any joint agency, or to any public utility. Sales of excess capacity or output of a project to public utilities shall not be made in such amounts, for such periods of time, and under such conditions as will cause the interest on bonds issued to finance the cost of a project to become taxable by the federal government.
As added by Acts 1980, P.L.68, SEC.1. Amended by P.L.36-2017, SEC.2.
Structure Indiana Code
Title 8. Utilities and Transportation
Article 1. Utilities Generally
Chapter 2.2. Municipal Electric Utility Programs
8-1-2.2-1. Findings and Purpose
8-1-2.2-3. Authorization to Cooperate
8-1-2.2-4. Joint Ownership of Project
8-1-2.2-5. Sale of Capacity or Output by a Municipality
8-1-2.2-6. Licenses and Approvals
8-1-2.2-7. Authority to Contract for Energy Exchange
8-1-2.2-9. General Powers of Joint Agencies
8-1-2.2-10. Contracts With Municipality
8-1-2.2-12. Trust Agreement or Resolution on Bondholders' Rights
8-1-2.2-16. Bond Eligibility for Investment
8-1-2.2-17. Agreement of State With Bondholders
8-1-2.2-18. Limited Liability on Bonds
8-1-2.2-19. Approval of Commission
8-1-2.2-20. Acquisition and Construction Contracts
8-1-2.2-22. Payments in Lieu of Taxes
8-1-2.2-24. Dissolution of Joint Agencies
8-1-2.2-26. Government Grants and Loans
8-1-2.2-28. Liability of Officers
8-1-2.2-29. Construction With Other Laws
8-1-2.2-31. Member Participating by Electronic Means of Communication