In addition to the powers conferred upon a city elsewhere in this chapter, any city operating a city electric utility on January 1, 2003, may enter into agreements with and acquire equity interests in independent transmission companies or similar independent transmission entities in which they are participating that are approved by the federal energy regulatory commission. The purpose of such equity investments shall be to mitigate expenses incurred by the city electric utility due to its procurement of electric transmission service or to otherwise facilitate investment in transmission facilities and shall not be for general city or city utility investment purposes.
Iowa Code § 390.8
Equity investment in independent transmission company
Applied in 1 court decision — leading case Hawkeye Land Company v. Iowa Utilities Board (2014)
Most recently applied in Hawkeye Land Company v. Iowa Utilities Board (May 2014)
2003 Acts, ch 116, §1
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.