Nebraska Statutes 70-658. Existing utility; lease, purchase, or acquisition by district; franchise and contracts; compliance required
In the event that any such district shall lease, purchase or acquire, in any manner, the generating plant, distribution system or other property of an existing utility then or theretofore furnishing electrical energy for heat, light, power, or other purposes, for the use or benefit of any city, of whatever class, or village in the State of Nebraska, or its inhabitants, and for use within the corporate limits of such city or village, such district shall be bound by, shall carry out, and shall perform the terms and conditions of any franchise or contract assigned to such district, and shall comply with the provisions of any existing applicable laws or ordinances under which such existing utility, such district’s predecessor or assignor, operated at the time such lease, purchase or acquisition of the generating plant, distribution system or other property of such existing utility shall have been made.
Source
- Laws 1939, c. 89, §1, p. 388;
- C.S.Supp.,1941, § 70-713;
- R.S.1943, § 70-658.
Terms Used In Nebraska Statutes 70-658
- 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
- Contract: A legal written agreement that becomes binding when signed.
- 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
- 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