Sale of consumers power district assets deregulated.
ENTITLED, An Act to revise certain provisions regarding the sale of consumers power district assets.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That § 49-40-3 be amended to read:
49-40-3. Any consumers power district may sell
to another district, rural electrification association, or cooperative, municipality, political subdivision and municipal corporation or public corporation located within or without the state, any power plant, electric generating plant, electric transmission, or distribution system, or any part thereof, for such sums any sum and upon such any terms as that the board of directors of the district may consider fair and reasonable.
Section 2. That § 49-40-7 be repealed.
Section 3. That § 49-40-8 be amended to read:
Notwithstanding § 49-40-7, where If a consumers power district is comprised of territory wholly within the corporate limits of a first or second class municipality then such the district shall have power to lease or alienate the franchises, plant or physical equipment of the district to any private person, firm, association or corporation in accordance with the provisions of §§ 9-39-37 and 9-39-38.
Signed March 10, 2017