§ 159B-12 – Sale of capacity and output by a joint agency; support contracts; other contracts with a joint agency.
159B-12. Sale of capacity and output by a joint agency; support contracts; other contracts with a joint agency. (a) Any municipality which is a member of the joint agency may contract to buy from the joint agency power and energy for its present or future requirements, including the capacity and output of one or more […]
§ 159B-13 – Sale of excess capacity and output by a joint agency.
159B-13. Sale of excess capacity and output by a joint agency. A joint agency may sell or exchange the excess capacity or output of a project not then required by any of its members, for such consideration and for such period and upon such other terms and conditions as may be determined by the parties, […]
§ 159B-14 – Bonds of a joint agency.
159B-14. Bonds of a joint agency. (a) A joint agency may issue bonds for the purpose of paying the cost of a project and secure both the principal of and interest on the bonds by a pledge of part or all of the revenues derived or to be derived from all or any of its […]
§ 159B-15 – Issuance of bonds.
159B-15. Issuance of bonds. (a) Each municipality and joint agency is hereby authorized to issue at one time or from time to time its bonds for the purpose of paying all or any part of the cost of any of the purposes herein authorized. The principal of, premium, if any, and the interest on bonds […]
§ 159B-16 – Resolution or trust agreement.
159B-16. Resolution or trust agreement. In the discretion of the governing board of the issuer, any bonds issued under the provisions of this Chapter may be secured by a trust agreement by and between the issuer and a corporate trustee, which may be any trust company or bank having the powers of a trust company […]
§ 159B-16.1 – Revenues NCEMPA members.
159B-16.1. Revenues – NCEMPA members. (a) A municipality is hereby authorized to fix, charge and collect rents, rates, fees and charges for electric power and energy and other services, facilities and commodities sold, furnished or supplied through the facilities of its electric system or its interest in any joint project. Before it revises its rates, […]
§ 159B-17 – Revenues other municipalities.
159B-17. Revenues – other municipalities. (a) A municipality is hereby authorized to fix, charge and collect rents, rates, fees and charges for electric power and energy and other services, facilities and commodities sold, furnished or supplied through the facilities of its electric system or its interest in any joint project. For so long as any […]
§ 159B-18 – Trust funds; investment authority.
159B-18. Trust funds; investment authority. (a) Notwithstanding any other provisions of law to the contrary, all moneys received pursuant to the authority of this Chapter, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this Chapter. The […]
§ 159B-19 – Remedies.
159B-19. Remedies. Any holder of bonds issued under the provisions of this Chapter or any of the coupons appertaining thereto, and the trustee under any trust agreements, except to the extent the rights herein given may be restricted by such trust agreement or the resolution authorizing the issuance of such bonds, may, either at law […]
§ 159B-5 – Joint ownership of a project; provisions of the contract or agreement with respect thereto.
159B-5. Joint ownership of a project; provisions of the contract or agreement with respect thereto. Each municipality shall own a project in proportion to the amount of the money furnished or the value of property or other consideration supplied by it for the planning, development, acquisition or construction thereof, and shall be entitled to a […]