(1) It shall not be necessary for any municipality proceeding under KRS 96.550 to 96.900 to obtain any certificate of convenience and necessity, license, permit, or other authorization, from any board, commission, or other agency of Kentucky, in order to acquire, maintain and operate any electric plant.
(2) Neither the Public Service Commission of Kentucky nor any other board or commission of like character shall, unless in the future expressly authorized, have jurisdiction over such board or municipality in the management and control of any electric plant whether within or without its boundaries, or any power or authority over the regulation of rates or charges, except that the Public Service Commission may, when it determines that such action is in the public interest and will not jeopardize the financial structure of the system, require any such municipality to extend service within or without its boundaries to customers not previously served by such municipality. Its orders may be enforced by mandamus or mandatory injunction.
(3) If and when any board organized and operating under the provisions of KRS 96.550 to 96.900 shall be required by the Public Service Commission to extend its services within or without its boundaries to customers not previously served by such municipality or board, revenue bonds may be issued and sold by the board in an amount sufficient for the board to obtain all money necessary to pay the cost of such extended service.
(4) Bonds may be issued under KRS 96.550 to 96.900 without respect to the provisions of any laws requiring the prior approval of any court, commission, board, or regulatory authority.