12-8,112.   Acquisition of gas distribution systems by certain cities;resolution; definition of "gas distribution system"; issuance of bonds;jurisdiction of corporation commission.(a) The governing bodies of any two or more cities of the third class, anyof which is located in Crawford, Neosho, Bourbon, Allen or Linn counties, may together form a corporation or enter into an agreement with an existingcorporation to provide natural gas distribution systems to such cities toacquire such gas distribution systems. Before forming such a corporationor entering into such agreement, each governing body shall adopt a resolutionwhich finds and declares it to be in the best interest of the city to makesuch acquisition and operate a gas distribution system of such city or citiesto continue the distribution and sale of natural gas within the limits ofsuch city or cities. Each such resolution shall be published once in theofficial city newspaper.

      (b)   As used in this section "gas distribution system" means, in additionto its usual meaning, the right to purchase natural gas for resale, physicalfacilities, any rights-of-way on private property and any real estate integralto such facilities and any other rights, records or property appropriatefor operation of the system.

      (c)   If the governing body of the city deems it necessary, it may issuebonds in such amount as is fixed by ordinance to pay for such gas distributionsystem or its share thereof. Except as in this act otherwise provided,such bonds shall be issued in accordance with revenue bond laws applicable to the city.

      (d)   The state corporation commission shall have and retain regulatoryauthority over any acquisition made under this section, and to the extentprovided by law, regulation of the gas distribution system or systems operatedunder this section.

      History:   L. 1981, ch. 85, § 1; July 1.