Sec. 8.
The governing body of a municipal electric utility system may purchase, acquire, construct, improve, enlarge, extend, or repair in the name of the municipality fuel sources and reserves it deems necessary to the continued efficient operation of the municipal electric utility system, together with the necessary facilities for transportation and storage. The fuel sources and reserves may include, but not be limited to, advance payments on contracts for nuclear fuels, and contracts for heat from facilities belonging to others. Facilities for transportation and storage of fuels shall include, but not be limited to, pipelines, conveyor systems, railroad cars, ships, storage tanks, underground storage areas, and other necessary and related appurtenances.
History: 1976, Act 448, Imd. Eff. Jan. 13, 1977
Structure Michigan Compiled Laws
Chapter 460 - Public Utilities
Act 448 of 1976 - Michigan Energy Employment Act of 1976 (460.801 - 460.848)
Article 1 - General Administrative Provisions (460.801...460.816)
Section 460.801 - Short Title.
Section 460.802 - Meanings of Words and Phrases.
Section 460.803 - Definitions; E to J.
Section 460.804 - Definitions; M.
Section 460.805 - Definitions; P.
Section 460.806 - Definitions; P to R.
Section 460.808 - Fuel Sources and Reserves; Facilities for Transportation and Storage.
Section 460.809 - Facilities for Transmission of Energy; Contracts With Other Power Utilities.
Section 460.810 - Electric Utility Facilities; Exercise of Authority by Governing Body.
Section 460.812 - Financing Cost of Electric Utility Facility; Bonds.
Section 460.813 - Exemption From Taxation.
Section 460.814 - License Agreements.