49-40 CONSUMERS POWER DISTRICT DISSOLUTION AND SALE OF ASSETS
CONSUMERS POWER DISTRICT DISSOLUTION AND SALE OF ASSETS
Conditions under which assets may be transferred or encumbered.
Hypothecation of assets permitted.
Sale of assets to other public electric company.
Sale of assets--Retroactive application.
Right of municipality to purchase portion of assets within boundaries.
Inability to agree with municipality on price--Court determination--Basis of
Allocation of bonded indebtedness as between municipality and other transferee--Terms of court award.
Transfer of assets to private person prohibited.
Transfer of facilities within municipality to private municipal supplier permitted.
Petition for dissolution of district--Conditions under which dissolution may be
permitted--Notice of dissolution--Contents of notice--Expenses of dissolution.
Court hearing and investigation respecting dissolution--Filing order of dissolution
with clerk of courts and secretary of state.