70-1702. Purchase agreement; contents.
151 words·~1 min read·
/ne/chapter-70/70-1702A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Notwithstanding any other provision of Nebraska law, any public entity may enter into an agreement for the purchase of power to be generated by a project consisting of one or more electric generating facilities. A purchase agreement may contain such terms and conditions as the public entity may determine, including provisions whereby the public entity agrees to accept and pay for additional power generated by a project if another public entity that is a purchaser of power from the same project defaults or otherwise is unable to take or pay for such power.
A purchase agreement may further provide that the public entity is obligated to make payments regardless of whether power is provided, produced, or delivered to the public entity or whether the project contemplated by a purchase agreement is completed, operable, or operating, and notwithstanding suspension, interruption, interference, reduction, or curtailment of the output of power from such project.