390.1 Definitions. As used in this chapter, unless the context otherwise requires: 1. “Acquisition” of a joint facility includes the purchase, lease, construction, reconstruction, extension, remodeling, improvement, repair, and equipping of the joint facility. 2. “City” means a municipal corporation, but not including a county, township, school district, or special purpose district or authority. 3. […]
390.10 Electric power agency — general authority. In addition to other powers conferred upon an electric power agency by chapter 28F or other applicable law, an electric power agency may enter into and carry out joint agreements with other participants for the acquisition of ownership of a joint facility and for the planning, financing, operation, […]
390.11 Electric power agency — authority — conflicting provisions. 1. In addition to any powers conferred upon an electric power agency under chapter 28F or other applicable law, an electric power agency may exercise all other powers reasonably necessary or appropriate for or incidental to the effectuation of the electric power agency’s authorized purposes, including […]
390.12 Issuance of public bonds or obligations — purposes — limitations. 1. An electric power agency may from time to time issue its public bonds or obligations in such principal amounts as the electric power agency deems necessary to provide sufficient funds to carry out any of its purposes and powers, including but not limited […]
390.13 Public bonds or obligations authorized by resolution of board of directors — terms. 1. The board of directors of an electric power agency, by resolution, may authorize the issuance of public bonds or obligations of the electric power agency. 2. The public bonds or obligations may be issued in one or more series under […]
390.14 Public bonds or obligations payable solely from agency revenues or funds. 1. The principal of and interest on any public bonds or obligations issued by an electric power agency shall be payable solely from the revenues or funds pledged or available for their payment as authorized in this subchapter. 2. Each public bond or […]
390.15 Public bonds or obligations — types — sources for payment — security. 1. Except as otherwise expressly provided by this subchapter or by the electric power agency, every issue of public bonds or obligations of the electric power agency shall be payable out of any revenues or funds of the electric power agency, subject […]
390.16 Public bonds or obligations and rates for debt service not subject to state approval. Public bonds or obligations of an electric power agency may be issued under this subchapter, and rents, rates, and charges may be established in the same manner as provided in section 28F.5 and pledged for the security of public bonds […]
390.17 Public bonds or obligations to be negotiable. All public bonds or obligations of an electric power agency shall be negotiable within the meaning and for all of the purposes of the uniform commercial code, chapter 554, subject only to the registration requirement of section 76.10. 2001 Acts, 1st Ex, ch 4, §25, 36 CS2001, […]
390.18 Validity of public bonds or obligations at delivery — temporary bonds. 1. Any public bonds or obligations may be issued and delivered, notwithstanding that one or more of the officers executing them shall have ceased to hold office at the time when the public bonds or obligations are actually delivered. 2. Pending preparation of […]
390.19 Public or private sale of bonds and obligations. Public bonds or obligations of an electric power agency may be sold at public or private sale for a price and in a manner determined by the electric power agency. 2001 Acts, 1st Ex, ch 4, §27, 36 CS2001, §476A.30 2010 Acts, ch 1018, §17 C2011, […]
390.2 Additional power. In addition to other powers conferred by the Constitution and laws of this state, any city having established a utility which operates an existing electric generating facility or distribution system may enter into and carry out joint agreements with other participants for the acquisition of ownership of an undivided interest in a […]
390.20 Public bonds or obligations as suitable investments for governmental units, financial institutions, and fiduciaries. The following persons may legally invest any debt service funds, money, or other funds belonging to such person or within such person’s control in any public bonds or obligations issued pursuant to this subchapter: 1. A bank, trust company, savings […]
390.21 Resolution, trust indenture, or security agreement constitutes contract — provisions. The resolution, trust indenture, or other security agreement under which any public bonds or obligations are issued shall constitute a contract with the holders of the public bonds or obligations, and may contain provisions, among others, prescribing any of the following terms: 1. The […]
390.22 Mortgage or trust deed to secure bonds. For the security of public bonds or obligations issued or to be issued by an electric power agency, the electric power agency may mortgage or execute deeds of trust of the whole or any part of its property. 2001 Acts, 1st Ex, ch 4, §30, 36 CS2001, […]
390.23 No personal liability on public bonds or obligations. An official, director, member of an electric power agency, or any person executing public bonds or obligations shall not be liable personally on the public bonds or obligations or be subject to any personal liability or accountability by reason of the issuance of such public bonds […]
390.24 Repurchase of securities. An electric power agency may purchase public bonds or obligations out of any funds available for such purchase, and hold, pledge, cancel, or resell the public bonds or obligations, subject to and in accordance with any agreements with the holders. 2001 Acts, 1st Ex, ch 4, §32, 36 CS2001, §476A.35 2010 […]
390.25 Pledge of revenue as security. An electric power agency may pledge its rates, rents, and other revenues, or any part of such rates, rents, and revenues, as security for the repayment, with interest and redemption premiums, if any, of the moneys borrowed by the electric power agency or advanced to the electric power agency […]
390.3 Hearing — exception to general statutes. 1. Before a city may enter into or amend a joint agreement, the governing body shall adopt a proposed form of agreement and give notice and conduct a public hearing on the agreement in the manner provided by sections 73A.1 through 73A.11, which action shall be subject to […]
390.4 Undivided joint interest. In substance, a joint agreement shall: 1. Provide that each participant shall own an undivided interest in the joint facility, the interest being equal to the percentage of the money furnished, value of property furnished, or services rendered by each participant toward the total cost of the joint facility, and that […]
