Indiana Code 8-1-2.2-3. Authorization to cooperate
(b) Prior to acquiring any undivided interest, the governing body shall determine the present and future needs of the municipality for power and energy based upon engineering studies and reports, and may not acquire an undivided interest as a tenant in common in a project in excess of that amount of capacity and the energy required to provide for its projected needs for power and energy for such reasonable period of time as shall be determined by the governing body and approved by the commission in a proceeding pursuant to section 19 of this chapter.
Terms Used In Indiana Code 8-1-2.2-3
- commission: refers to the Indiana utility regulatory commission. See Indiana Code 8-1-1-1
(1) the economies and efficiencies to be achieved in constructing large scale facilities for the generation and transmission of electric power and energy;
(2) the municipality’s needs for reserve and peaking capacity and obligations reasonably related to its needs for power and energy under pooling and reserve sharing agreements to which it is or may become a party;
(3) the estimated useful life of the project; and
(4) the estimated time for planning, development, acquisition or construction of the project and the time required in advance to obtain, acquire or construct additional power supply.
As added by Acts 1980, P.L.68, SEC.1.