390.5 Financing.
162 words·~1 min read·
/ia/chapter-390-joint-electrical-utilities/390-5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A city may finance its share of the cost of a joint facility by the use of any method of financing available for city utilities under the statutes of this state, for the financing of electric generation or transmission facilities to be owned by a city in their entirety, including but not limited to the provisions of chapters 397 and 407, Code 1973, and sections 384.23 through 384.36 and sections 384.80 through 384.94 as applicable. Revenues derived by a city utility from its share of ownership or operation of a joint facility shall be deemed to be revenues of the city utility for all purposes including the issuance and payment of bonds secured by or payable from the revenues of a city utility.
A joint agreement shall be deemed payable from revenues or revenue bonds of a city utility in the absence of provision to the contrary or a referendum approving the issuance of general obligation bonds.
[C75, 77, 79, 81, §390.5]