12-8,109.   Contracts by member cities with agency for purchase ofenergy, planning and other services.Any member city of a municipal energy agency may enter into a contract withsuch agency for a period not exceeding 40 years providing for:

      (a)   The planning or study of any project;

      (b)   the provision of services relating to the energy system of the city; or

      (c)   the purchase of electricity or other energy from such agency oneither a firm or standby basis, or both, upon such termsand conditions as the parties shall deem reasonable including provisionsrequiring payment whether actually received or not and provisions requiringthe contracting city to pay a proportionate amount of deficits with respectto a particular project.

      History:   L. 1977, ch. 48, § 25;L. 1988, ch. 74, § 7; July 1.