2007 Oregon Code - Chapter 262 :: Chapter 262 - Joint Operating Agencies for Electric Power
Chapter 262 —
Joint Operating Agencies for Electric Power
2007 EDITION
JOINT OPERATING AGENCIES FOR ELECTRIC POWER
PUBLIC ORGANIZATIONS FOR COMMUNITY SERVICE
GENERAL PROVISIONS
262.005Â Â Â Â Definitions
for ORS 262.015 to 262.105
262.015Â Â Â Â Authority
for joint operating agency formation; powers
262.025Â Â Â Â Procedure
for joint operating agency formation
262.035Â Â Â Â Power
of agency to require financial contributions from members restricted; members
contracting with agency for services
262.045Â Â Â Â Procedure
for modification of or withdrawal from agency membership
262.055Â Â Â Â Management
of agency; directors; officers; meetings
262.065Â Â Â Â Duties
of agency treasurer; disposition of funds; accounting system; reports; audit;
appointment and duties of agency manager
262.075Â Â Â Â Agency
as state political subdivision; eminent domain powers; financial transaction
powers
REVENUE OBLIGATIONS
262.085Â Â Â Â Authority
to issue revenue obligations; procedure; rights and duties created by revenue
obligations; interest rate; exemption from state taxation; immunity from
personal liability in connection with issuance
RATES
262.095Â Â Â Â Rates
for energy furnished by agency
MISCELLANEOUS
262.105Â Â Â Â Taxation
of agency property in same manner as private power corporations
262.115Â Â Â Â Construction
of ORS 262.005 to 262.115 and 308.505; severability
GENERAL PROVISIONS
     262.005
Definitions for ORS 262.015 to 262.105. As used in ORS 262.015 to 262.105, unless the context requires
otherwise:
     (1) “Electric cooperative” means a
cooperative corporation owning and operating an electric distribution system.
     (2) “Joint operating agency” means an
agency organized by three or more cities or peopleÂ’s utility districts under
the laws of this state for the purposes and according to ORS 262.005 to
262.105.
     (3) “Privately owned electric utility
company” means an electric utility operated for profit and subject to
regulation by the Public Utility Commission of Oregon or the equivalent officer
or commission of any other state.
     (4) “Utility properties” means a plant,
works or other property used for development, generation, storage, distribution
or transmission of electricity. “Utility properties” does not include
facilities for uranium refining, processing or reprocessing. [1973 c.722 §1;
2005 c.22 §190; 2007 c.301 §42; 2007 c.895 §13]
     262.010 [Repealed by 1969 c.12 §1]
     262.015
Authority for joint operating agency formation; powers. (1) Any three or more cities or peopleÂ’s
utility districts or combinations thereof, organized under the laws of this
state, may form a joint operating agency to plan, acquire, construct, own,
operate and otherwise promote the development of utility properties for the
generation, transmission and marketing of electricity, electrical capacity or
renewable energy certificates.
     (2) A joint operating agency may
participate with other publicly owned utilities, including other joint
operating agencies, or with electric cooperatives, or with privately owned
electric utility companies, or with any combination thereof, for any purpose
set forth in subsection (1) of this section, whether such agencies or utilities
are organized or incorporated under the laws of this state or any other
jurisdiction. However, no joint operating agency may act alone or as the
managing participant to acquire, construct, own or operate utility properties.
     (3) Joint operating agencies, cities,
peopleÂ’s utility districts and privately owned utilities, or combinations
thereof, may participate in joint ownership of common facilities in accordance
with ORS 225.450 to 225.490 or 261.235 to 261.255. [1973 c.722 §2; 2007 c.301 §43;
2007 c.895 §14]
     262.020 [Repealed by 1969 c.12 §1]
     262.025
Procedure for joint operating agency formation. A joint operating agency shall be formed and
come into existence by order of the Director of the State Department of Energy
in accordance with the following procedures:
     (1) The legislative body of each city and
peopleÂ’s utility district desiring to form and be a member of a joint operating
agency shall adopt an ordinance declaring their intention and authorizing
formation and membership. The ordinance shall be effective only if submitted to
the electors of the city or peopleÂ’s utility district voting on the ordinance
at any general election or at a special election called for that purpose. The
ordinance shall include:
     (a) A statement of the purpose or purposes
for which the joint operating agency is to be formed.
     (b) A finding by the legislative body that
the formation of a joint operating agency is necessary or desirable in order to
plan for and provide an adequate supply of electric energy to meet the needs of
the customers of publicly owned utilities in Oregon.
     (c) A statement of the projected energy
loads and resources relied upon by the legislative body to support such
finding.
     (d) A general description of the means by
which the joint operating agency proposes to accomplish its purposes, including
a description of any specific utility properties then identified as a proposed
activity of the joint operating agency.
     (e) A statement of the financial contribution,
if any, to be made by the city or district to the joint operating agency at the
time of organization as a condition of membership.
     (2) Upon such approval of such an
ordinance or ordinances, each such city and district shall file with the
director an application to form and be a member of a joint operating agency.
The application shall:
     (a) State the proposed name of the
operating agency, the proposed address of its principal business office, and
the purpose or purposes for which it is to be formed;
     (b) Contain a certified copy of the
ordinance of each applicant city and district as approved by the electors; and
     (c) State generally how the joint
operating agency proposes to accomplish its purposes.
     (3) The director shall cause notice of an
application to be published forthwith in the bulletin referred to in ORS
183.360. Such notice shall:
     (a) Summarize fairly the contents of the
application;
     (b) Fix a date not less than 20 nor more
than 30 days after the date of publication prior to which interested parties
may submit in writing any data, views, or arguments with respect to the
application; and
     (c) Fix a date not less than 30 nor more
than 60 days after the date of publication for the entry of an order approving
or disapproving an application.
     (4) In considering the application, the
director shall give full and fair consideration to all data, views and
arguments submitted on behalf of the applicants or any other interested person.
     (5) On or before the date fixed in
subsection (3)(c) of this section, the director shall enter an order
establishing the joint operating agency in accordance with the application if
the director finds (a) that the statements set forth in the application are
substantially correct; (b) that formation of the proposed joint operating
agency is necessary or desirable to plan for or provide an adequate supply of
electric energy to meet the needs of the customers of publicly owned utilities
in Oregon; and (c) that adequate provision has been or can be made for
financing the activities of the joint operating agency. The joint operating
agency shall be established as of the date of such order.
     (6) If the director finds that the
application is not in the required form or that additional data is required to
support the application, the director shall enter an order so finding. Such an
order shall not preclude the applicants from filing a revised application based
upon the same approved ordinances.
     (7) If the director does not enter an
order as authorized under subsection (5) or (6) of this section within 60 days
after the date of publication, the application shall be considered approved,
and the joint operating agency shall be established as of such 60th day.
     (8) A joint operating agency, organized as
provided by this section shall have all of the powers and responsibilities
contained in ORS 262.005 to 262.105.
     (9) Any party who has joined in filing an
application in accordance with this section, or who has filed timely objections
to such application, and who feels aggrieved by any finding or order of the
director shall have the right of judicial review pursuant to ORS 183.480. [1973
c.722 §3; 2003 c.186 §11]
     262.030 [Repealed by 1969 c.12 §1]
     262.035
Power of agency to require financial contributions from members restricted; members
contracting with agency for services. (1) A joint operating agency shall not have the right or power to levy
taxes or to assess its members for financial contributions. Each member city
and district shall have the power to contribute or advance to the joint
operating agency, solely out of surplus funds derived from utility operations,
such sums as may be duly authorized by the utility board of the city, if there
is one and, if there is no utility board, by the legislative body of the city
or the district.
     (2) No member of a joint operating agency
shall be required to obligate all or any portion of its revenues to a joint
operating agency solely because of its membership.
     (3) A member may, whenever authorized by
its utility board if there is one and, if there is no utility board, by its
legislative body, enter into contracts with the joint operating agency to
purchase capacity, energy or services and, as a part of such contracts, may
agree to pay to the joint operating agency such consideration and to provide
such security as it may determine advisable. [1973 c.722 §4]
     262.040 [Repealed by 1969 c.12 §1]
     262.045
Procedure for modification of or withdrawal from agency membership. (1) After the formation of a joint operating
agency, the legislative body of any city or district not a member of the joint
operating agency may adopt an ordinance and apply to the joint operating agency
for membership. Such an ordinance shall not be effective unless approved by
electors of the city or peopleÂ’s utility district as provided by ORS 262.025.
     (2) Upon the affirmative vote of a
majority of the members of the joint operating agency, as evidenced by
resolutions adopted by their respective legislative bodies and filed with the
joint operating agency, an application for membership shall be accepted. As a
condition of approving such an application, the members of a joint operating
agency may require the applicant to make contributions or commitments to place
the applicant in substantial parity with the existing members.
     (3) A member may not withdraw from a joint
operating agency, nor may a joint operating agency be dissolved, while the
agency has outstanding revenue obligations for which repayment provision has
not been made. When a joint operating agency has no such outstanding revenue
obligations:
     (a) Any member may withdraw from the joint
operating agency, but will thereby forfeit any and all rights and interests
which it may have in the agency and the assets thereof unless the remaining
members, by resolution of their respective legislative bodies and filed with
the joint operating agency, unanimously consent otherwise; however, a member
may not withdraw if, following its withdrawal, the joint operating agency would
have less than three members. Any withdrawing member shall remain fully liable
and responsible for all contractual obligations incurred by it to the joint
operating agency during the period of its membership according to the terms of
such obligations.
     (b) The joint operating agency may be
dissolved by the unanimous agreement of the members, as evidenced by
resolutions adopted by their respective legislative bodies and filed with the
joint operating agency. After provision has been made for the payment of all of
the dissolved agencyÂ’s debts and obligations, the members shall hold its
remaining assets as tenants in common. [1973 c.722 §5]
     262.055
Management of agency; directors; officers; meetings. (1) A joint operating agency shall be
managed and controlled by a board of directors. The cityÂ’s utility board, if
there is one and if there is no such board, the legislative body of each member
city and district shall appoint a representative to serve as a director on the
board. However, if the joint operating agency has less than four members, each
member shall appoint two representatives to serve as directors, each of whom
shall cast one-half of the votes to which the member is entitled as provided by
subsection (4) of this section. Each member may appoint one or more alternates
to serve as a director in the absence or disability of a representative. Each
representative and alternate shall serve at the pleasure of the legislative
body of the appointing member, but no director shall serve following the
withdrawal of the appointing member. Notwithstanding any other provision of law
or city charter a member may appoint any of its officers and employees to serve
as its representatives and alternates. A joint operating agency may provide
reasonable compensation to its directors.
     (2) Each director of a joint operating agency
shall act as a representative of the appointing member and shall report to and
be bound by the policy decisions of the utility board or legislative body
thereof, as the case may be.
     (3) The board of the joint operating
agency shall adopt rules for calling and conducting its meetings and carrying
out its business and shall adopt an official seal. All proceedings of the board
shall be by motion or resolution, and shall be recorded in the minute book of
the board which shall be a public record. A majority of the board shall
constitute a quorum for the transaction of business; however, no motion or
resolution shall be adopted unless the directors voting are entitled to cast a
majority of the votes of all members of the joint operating agency.
     (4) At all meetings of the board, each
member city and district shall have one vote by virtue of its membership. The
board of directors of a joint operating agency shall provide by resolution for
voting procedures which shall take into account the relative population of the
members, together with their contributions to and energy purchases from the
joint operating agency, and which shall provide that the interests of smaller
members will be effectively represented.
     (5) The board of directors shall elect a
president, vice president and secretary, who shall serve at the pleasure of the
board. The officers shall perform the duties delegated to them by the board.
     (6) The board of directors shall appoint a
treasurer, and may appoint such other officers, agents and employees as it
considers appropriate and necessary to accomplish the purposes of the joint
operating agency, and may provide for their compensation, and for the duties of
such other officers, agents and employees. The board may appoint trustees,
paying agents, depositories and similar agents within or without the State of
     (7) All meetings of the board of
directors, except meetings on matters involving the management of employees,
and other labor matters, shall be open to the public. [1973 c.722 §6]
     262.065
Duties of agency treasurer; disposition of funds; accounting system; reports;
audit; appointment and duties of agency manager. (1) Except as permitted in ORS 262.085, the
treasurer shall be custodian of all funds of the joint operating agency and shall
pay them out only by order of the board, except as provided in subsection (2)
of this section.
     (2) The board may delegate to the
treasurer standing authority to make payments of routine expenses as defined by
the board.
     (3) Before the treasurer enters upon the
treasurerÂ’s duties, the treasurer shall give bond or an irrevocable letter of
credit to the joint operating agency in an amount which the board finds by
resolution will protect the agency against loss, conditioned for the faithful
discharge of duties and further conditioned that all funds which the treasurer
receives as treasurer will be faithfully kept and accounted for. Any letter of
credit shall be issued by an insured institution, as defined in ORS 706.008.
The amount of the treasurerÂ’s bond may be increased or decreased from time to
time as the board may by resolution direct. The surety on any such bond shall
be a corporate surety authorized to do business in this state. The premiums on
the bond or the fee for issuing the letter of credit of the treasurer shall be
paid by the joint operating agency.
     (4) All moneys of the joint operating
agency shall be deposited by the treasurer in depositories designated by the
board of directors, with such security as may be prescribed by the board. The
treasurer shall establish a general fund and such special funds as may be
created by the board, to which the treasurer shall credit all funds of the
joint operating agency as the board by motion or resolution may direct.
     (5)(a) The board shall adopt the uniform
system of accounts prescribed from time to time by the Federal Energy
Regulatory Commission and require that accounting for receipts and
disbursements for the joint operating agency be accomplished in accordance with
the uniform system of accounts.
     (b) The board shall file with the Director
of the State Department of Energy an annual report in the form required by the
Federal Energy Regulatory Commission.
     (c) An annual audit shall be made in the
manner provided in ORS 297.405 to 297.555. A copy of such audit shall be filed
in the office of the Secretary of State and in the office of the Director of
the State Department of Energy.
     (6)(a) The board of each joint operating
agency may appoint a manager. The manager shall be appointed for such term and
receive such salary as the board shall fix by resolution. Appointments and
removals of the manager shall be by resolutions adopted by a majority vote.
     (b) In case of absence or temporary
disability of the manager, the board shall designate an acting manager.
     (c) The manager shall be chief
administrative officer of the joint operating agency, shall have control of the
administrative functions of the joint operating agency and shall be responsible
to the board for efficient administration of all affairs of the joint operating
agency placed in the managerÂ’s charge. The manager may attend meetings of the
board and its committees and take part in discussion of any matters pertaining
to the managerÂ’s duties, but shall have no vote. The manager shall:
     (A) Carry out orders of the board and see
that all laws of this state pertaining to matters within the functions of the
joint operating agency are duly enforced;
     (B) Keep the board advised as to the
financial condition and needs of the joint operating agency;
     (C) Prepare an annual estimate for the
ensuing fiscal year of the probable expenses of the joint operating agency, and
recommend to the board what development work should be undertaken, and any
extensions and additions which should be made during the ensuing fiscal year,
with an estimate of the costs of such development work, extensions and
additions;
     (D) Certify to the board all bills,
allowances and payrolls, including claims due contractors of public works;
     (E) Recommend to the board appropriate
salaries of the employees of the office, and scale of salaries or wages to be
paid for different classes of service required by the joint operating agency;
     (F) Hire and discharge clerks, laborers
and other employees under the managerÂ’s direction; and
     (G) Perform such other duties as may be
imposed by the board. [1973 c.722 §7; 1977 c.774 §17; 1979 c.286 §4; 1991 c.331
§51; 1997 c.631 §430; 2001 c.104 §80]
     262.075
Agency as state political subdivision; eminent domain powers; financial transaction
powers. (1) Each joint
operating agency shall be a political subdivision of the State of
     (2) A joint operating agency shall have
the power to acquire, hold, sell and dispose of real and other property, within
or without this state, which the board of directors in its discretion finds
reasonably necessary or incident to the generation, transmission and marketing
of electricity, electrical capacity or renewable energy certificates. However,
such an agency shall not acquire or operate any facilities for the distribution
of electricity.
     (3) A joint operating agency shall have
the power of eminent domain which it may exercise for the purpose of acquiring
property; however, a joint operating agency shall not condemn any properties
owned by a publicly or privately owned utility which are being used for the
generation or transmission of electricity or are being developed for such
purposes with due diligence, except to acquire a right of way to cross such
properties in a manner which will not interfere with the use thereof by the
owner.
     (4) A joint operating agency shall have
the power to enter into contracts, leases and other undertakings considered
necessary or proper by its board, including but not limited to contracts for
any term relating to the purchase, sale, interchange, assignment, allocation,
transfer or wheeling of power with the Government of the United States, or any
agency thereof, and with any other municipal corporation or privately owned
utility, or any combination thereof, within or without the state, and may
purchase, deliver or receive power anywhere.
     (5) A joint operating agency shall have
the power to borrow money and incur indebtedness, to issue, sell and assume
evidences of indebtedness, to refund and retire any indebtedness that may exist
against the agency or its revenues, and to pledge any part of its revenues. A
joint operating agency may borrow from banks or other financial institutions
such sums on such terms as the board considers necessary or advisable. A joint
operating agency may also issue, sell and assume bond anticipation notes,
refunding bond anticipation notes, or their equivalent, which shall bear such
date or dates, mature at such time or times, be in such denominations and in
such form, be payable in such medium, at such place or places, and be subject
to such terms of redemption, as the board considers necessary or advisable. The
issuance and sale of revenue obligations by a joint operating agency shall be
governed by ORS 262.085.
     (6) The joint operating agency may apply
for, accept, receive and expend appropriations, grants, loans, gifts, bequests
and devises in carrying out its functions as provided by law. [1973 c.722 §8;
2007 c.301 §44; 2007 c.895 §15]
REVENUE
OBLIGATIONS
     262.085
Authority to issue revenue obligations; procedure; rights and duties created by
revenue obligations; interest rate; exemption from state taxation; immunity
from personal liability in connection with issuance. (1) To accomplish any of its corporate
purposes, a joint operating agency shall have the power to issue revenue obligations
payable from the revenues derived by it from its ownership of, or its
participation in or contribution to the ownership or development of, any one or
more utility properties. The issuance of such revenue obligations shall be
governed by the provisions of subsections (2) to (13) of this section.
     (2) The board of directors shall issue
revenue obligations only by bond resolution. The bond resolution shall specify
the corporate purposes for which the proceeds of the revenue obligations shall
be expended, declare the cost of carrying out such purposes as nearly as
possible, contain such covenants, and provide for the issuance and sale of
revenue obligations in such form and amount as the directors determine. In
declaring such cost, the directors may include the funds necessary for working
capital, reserves, fuel and fuel assemblies, interest during construction and
for a reasonable period thereafter, the payment of organizational and planning
expenses, the repayment of advances and such other expenses as may be
reasonably necessary to carry out the purposes of such resolution. The bond
resolution may provide that utility properties subsequently acquired or
constructed by the joint operating agency shall be considered betterments or
additions to, or extensions of the specified utility property, whether or not
physically connected.
     (3) The bond resolution may provide for
the establishment of one or more special funds, and such funds may be under the
control of the board or one or more trustees. The bond resolution may obligate
the joint operating agency to deposit and expend the proceeds of the revenue
obligations only into and from such fund or funds, and to set aside and pay
into such fund or funds any fixed proportion or fixed amount of the revenues derived
by it from any or all of its utility properties or other corporate activities,
as the board in its discretion considers in the best interest of the agency.
The board may issue and sell revenue obligations payable as to interest and
principal only out of such fund or funds. In creating any special fund for the
payment of revenue obligations, the board shall have due regard to the cost of
operation and maintenance of the joint operating agencyÂ’s utility properties,
and to any proportion or amount of the revenues previously pledged as a fund
for the payment of revenue obligations, and shall not obligate the agency to
set aside into such special fund or funds a greater amount or proportion of the
revenues and proceeds than in its judgment will be available over and above
such cost of maintenance and operation and the amount or proportion of the
revenues previously pledged.
     (4) Any revenue obligations and the
interest thereon issued against any fund provided for in subsection (3) of this
section shall be a valid claim of the holder thereof only as against such
special fund and the proportion or amount of the revenues pledged to such fund,
but shall constitute a prior charge over all other charges or claims
whatsoever, against such fund and the proportion or amount of the revenues
pledged to the fund. Each revenue obligation shall state on its face that it is
payable from a special fund, naming the fund and the resolution creating it, or
shall describe the alternate method for the payment thereof as provided by the
resolution authorizing the fund.
     (5) Any pledge of revenues or other moneys
or obligations made by a joint operating agency shall be valid and binding from
the time that the pledge is made and recorded in the minute book of the joint
operating agency. Revenues or other moneys or obligations so pledged and later
received by a joint operating agency shall immediately be subject to the lien
of the pledge without any physical delivery or further act. The lien of the
pledge shall be valid and binding against any parties having claims of any kind
in tort, contract or otherwise against a joint operating agency, irrespective
of whether such parties have notice thereof. Neither the resolution nor other
instrument by which a pledge is created need be recorded except in the minute
book of the joint operating agency, nor shall the filing of any financing
statement under the Uniform Commercial Code be required to perfect such pledge.
     (6) The revenue obligations issued under
the provisions of subsections (1) to (5) of this section shall bear such date
or dates, mature in such amounts at such time or times, be in such
denominations, be in such form, either coupon or registered or both, carry such
registration privileges, be made transferable, exchangeable and interchangeable,
be payable in such medium, at such place or places, and be subject to such
terms of redemption as the board of directors shall declare in the bond
resolution.
     (7) Any resolution authorizing any revenue
obligation, and any revenue obligation, may provide for and contain such
covenants in favor of the purchaser or holder of such obligation as the board
of directors shall determine to be necessary, desirable, or convenient in order
to secure and protect the obligation and its purchaser or holder and to enhance
the marketability of the obligation. Among other things, such covenants may
define events of default, provide for the appointment of a trustee or receiver
in the event of default, and provide that any such trustee or receiver may take
possession and control of any portion or all of the business and property of
the joint operating agency upon the occasion of any event of default.
     (8) Notwithstanding any other provision of
law, the revenue obligations issued by a joint operating agency may be sold by
the board of directors upon such terms and conditions and at such rate or rates
of interest and for such price or prices as it may consider most advantageous
to the joint operating agency, with or without public bidding. The board of
directors may make contracts for the future sale from time to time of revenue
obligations by which the contract purchasers shall be committed to the prices,
terms and conditions stated in such contract, and the board of directors may
pay such consideration as it deems proper for such commitments.
     (9) The board of directors may provide by
resolution for the issuance of funding and refunding revenue obligations in
order to take up and refund any one or more series, or portion of a series, of
outstanding revenue obligations at such time or times at or prior to the
maturity thereof as it may determine. Such refunding revenue obligations may be
sold or exchanged at par or otherwise as the board of directors determines is
in the best interest of the joint operating agency.
     (10) The board of directors may provide in
any contract for the construction, acquisition or improvement of utility
properties that payment shall be made only in outstanding revenue obligations
at their par value.
     (11) All revenue obligations issued
pursuant to this section shall be legal securities which may be used by any
bank or trust company for deposit with the State Treasurer or a county
treasurer or city treasurer, as security for deposits in lieu of a surety bond
under any law relating to deposits of public moneys and shall constitute legal
investments for trustees and other fiduciaries other than corporations doing a
trust business in this state and for savings and loan associations, banks and
insurance companies doing a trust business in the state. All such revenue
obligations and all coupons appertaining thereto shall be negotiable
instruments within the meaning of and for all purposes of the law of this
state.
     (12) All revenue obligations issued
pursuant to this section, the interest thereon, and investment income therefrom
shall be exempt from all taxes levied by the state, its agencies,
instrumentalities, and political subdivisions.
     (13) Neither the board of directors of the
joint operating agency nor any person executing any revenue obligation or other
evidence of indebtedness shall be liable personally thereon or shall be subject
to personal liability or accountability by reason of the issuance thereof. [1973
c.722 §9]
RATES
     262.095
Rates for energy furnished by agency. The board of directors shall establish rates and collect charges for
electric power and energy and related services sold, furnished or supplied by
the joint operating agency. Such rates and charges shall be fair,
nondiscriminatory and at least adequate to provide revenues sufficient for:
     (1) Payment of the principal of and
interest on those obligations of the joint operating agency for which payment
has not otherwise been provided;
     (2) All payments which the agency is
obligated to set aside in any special fund for the repayment of obligations and
to provide reserves therefor;
     (3) Payment of taxes as provided by ORS
262.105; and
     (4) Payments for the proper
administration, operation, maintenance, repair, renewals and replacements of
utility properties of the joint operating agency and to provide reserves
therefor. [1973 c.722 §10]
MISCELLANEOUS
     262.105
Taxation of agency property in same manner as private power corporations. All property, real and personal, owned,
used, operated or controlled by a joint operating agency for the transmission,
production or furnishing of electric power or energy shall be assessed and
taxed in the same manner and for the same purposes as similar property owned,
used, operated or controlled by private corporations, other than electric
cooperatives, for the purpose of furnishing electric power or energy to the
public. The joint operating agency and its directors and officers shall be
subject to the same requirements as are provided by law in respect to such
assessment and taxation. All taxes so levied shall be payable by the joint
operating agency out of its revenues as an expense of its operation. [1973
c.722 §11]
     262.110 [Repealed by 1969 c.12 §1]
     262.115
Construction of ORS 262.005 to 262.115 and 308.505; severability. ORS 262.005 to 262.115 and 308.505 shall be
liberally construed to effect its purposes. In the event that any portion of
ORS 262.005 to 262.115 and 308.505 is declared invalid or otherwise
unenforceable by a court of record, the remaining provisions of ORS 262.005 to
262.115 and 308.505 shall nevertheless remain in full force and effect. [1973
c.722 §13]
     262.120 [Repealed by 1969 c.12 §1]
     262.130 [Repealed by 1969 c.12 §1]
     262.140 [Repealed by 1969 c.12 §1]
     262.150 [Repealed by 1969 c.12 §1]
     262.160 [Repealed by 1969 c.12 §1]
     262.170 [Repealed by 1969 c.12 §1]
     262.180 [Repealed by 1969 c.12 §1]
     262.190 [Repealed by 1969 c.12 §1]
     262.200 [Repealed by 1969 c.12 §1]
     262.210 [Repealed by 1969 c.12 §1]
     262.220 [Repealed by 1969 c.12 §1]
     262.230 [Repealed by 1969 c.12 §1]
     262.240 [Repealed by 1969 c.12 §1]
     262.250 [Repealed by 1969 c.12 §1]
     262.260 [Repealed by 1969 c.12 §1]
     262.270 [Repealed by 1969 c.12 §1]
     262.310 [Repealed by 1969 c.12 §1]
     262.320 [Repealed by 1969 c.12 §1]
     262.330 [Repealed by 1969 c.12 §1]
     262.340 [Repealed by 1969 c.12 §1]
     262.350 [Repealed by 1969 c.12 §1]
     262.360 [Repealed by 1969 c.12 §1]
     262.370 [Repealed by 1969 c.12 §1]
     262.380 [Repealed by 1969 c.12 §1]
     262.410 [Amended by 1967 c.293 §28; repealed by 1969
c.12 §1]
     262.420 [Repealed by 1969 c.12 §1]
     262.430 [Repealed by 1969 c.12 §1]
     262.440 [Repealed by 1969 c.12 §1]
     262.450 [Repealed by 1969 c.12 §1]
     262.460 [Repealed by 1969 c.12 §1]
     262.470 [Repealed by 1969 c.12 §1]
     262.510 [Repealed by 1969 c.12 §1]
     262.520 [Repealed by 1969 c.12 §1]
     262.530 [Repealed by 1969 c.12 §1]
     262.540 [Repealed by 1969 c.12 §1]
     262.550 [Repealed by 1969 c.12 §1]
     262.610 [Repealed by 1969 c.12 §1]
     262.620 [Repealed by 1969 c.12 §1]
     262.630 [Repealed by 1969 c.12 §1]
_______________
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