Nebraska Statutes 70-501. Extension authorized; electric energy; sale; contracts authorized; payments from net earnings and profits
Any city, village, or public electric light and power district within the state, which may own or operate, or hereafter acquire or establish, any electric light and power plant, distribution system and transmission lines may, at the time of or at any time after such acquisition or establishment, extend the same beyond its boundaries, and for that purpose is hereby authorized and empowered to construct, purchase, lease, or otherwise acquire, and to maintain, improve, extend and operate electric light and power plants, distribution systems and transmission lines, outside of the boundaries of such city, village, or public electric light and power district, for such distance and over such territory within this state as may be deemed expedient. In the exercise of the powers granted by this section any such city, village, or public electric light and power district may enter into contracts to furnish and sell electrical energy to any person, firm, association, corporation, municipality, or public electric light and power district. However, no such construction, purchase, lease, acquisition, improvement or extension of any such additional plant, distribution system or transmission lines shall be paid for except out of the net earnings and profits of one or more or all of the electric light and power plants, distribution systems and transmission lines of such city, village, or public electric light and power district. The provisions of sections 70-501 to 70-515 shall be deemed cumulative, and the authority herein granted to cities, villages, and public electric light and power districts shall not be limited or made inoperative by any existing statute.
Source
- Initiative Law 1930, No. 324, § 1;
- Laws 1931, c. 116, § 1, p. 336;
- C.S.Supp.,1941, § 70-601;
- R.S.1943, § 70-501.
Terms Used In Nebraska Statutes 70-501
- Acquire: when used in connection with a grant of power or property right to any person shall include the purchase, grant, gift, devise, bequest, and obtaining by eminent domain. See Nebraska Statutes 49-801
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Person: shall include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
- Statute: A law passed by a legislature.