E Authorizing and providing for the municipal utilities commission in the city of Austin to enter into a joint venture with the Freeborn-Mower counties cooperative electric power association to provide utility services within exclusive electric service territory boundaries; subjecting terms and conditions of the joint venture to ratification by the municipal utilities commission and the cooperative electric power association board, authorizing the terms and conditions to include the formation of a corporate or other separate legal entity with an administrative and governance structure independent of the participating utilities, granting the entity certain authority; specifying the powers of the joint venture, requiring the cooperative electric power association and the municipal utilities commission to monitor and report to the public utilities commission (PUC) and the legislature on the progress and operation of the joint venture by a certain date; specifying the authority of the city relating to the joint venture, restricting city establishment of a telephone exchange (mk, ja)