2006 Minnesota Statutes

453.57 RULES AND RATES.
A municipal power agency may make and enforce bylaws or rules which it deems necessary
or desirable, and may establish, levy, and collect or may authorize, by contract, franchise, lease,
or otherwise, the establishment, levying, and collection of, rents, rates, and other charges for the
services afforded by the municipal power agency or by or in connection with any project or
properties which it may construct, erect, acquire, own, operate, or control, or with respect to
which it may have any interest or any right to capacity thereof, and for the sale of electric energy
or of generation or transmission capacity or service as it may deem necessary, proper, desirable,
and reasonable. Rents, rates, and other charges shall be at least sufficient to meet the expenses
thereof, including reasonable reserves, interest, and principal payments, including payments
into one or more sinking funds for the retirement of principal. A municipal power agency may
pledge its rates, rents, and other revenues, or any part thereof, as security for the repayment, with
interest and redemption premiums, if any, of any moneys borrowed by it or advanced to it for
any of its authorized purposes and as security for the payment of amounts due and owing by it
under any contract.
History: 1976 c 313 s 7