Any one or more municipalities owning and operating a revenue producing electrical utility as defined in R.S. 33:4161 of this Part, is hereby authorized to engage with one or more electric public utility companies as defined in R.S. 45:121, or with any one or more other municipalities owning and operating a revenue producing electrical utility, as aforesaid, or with a Rural Electric Association Cooperative on intrastate or interstate basis, in the financing, construction, maintenance, and operation of joint electric power generation and transmission facilities as owners or otherwise. All arrangements and agreements made under the authority of this Section shall be reduced to writing, and shall include, among other provisions, the proportionate share of the cost to be borne by the municipal
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Any one or more municipalities owning and operating a revenue producing electrical utility as defined in R.S. 33:4161 of this Part, is hereby authorized to engage with one or more electric public utility companies as defined in R.S. 45:121, or with any one or more other municipalities owning and operating a revenue producing electrical utility, as aforesaid, or with a Rural Electric Association Cooperative on intrastate or interstate basis, in the financing, construction, maintenance, and operation of joint electric power generation and transmission facilities as owners or otherwise. All arrangements and agreements made under the authority of this Section shall be reduced to writing, and shall include, among other provisions, the proportionate share of the cost to be borne by the municipality. Any municipality and/or the electric public utility company or companies may construct or acquire the jointly owned facilities by negotiated contract without public advertisement or other limitations of the public contract law or other laws and title to such facilities shall vest in the parties to the written agreement in the proportion or manner set forth in such agreement. Notwithstanding any other provision of Louisiana law relative to the right of partition available to owners of property or portions of property, the right of partition shall not be available to any party with respect to any property acquired or held subject to the terms of said agreement; however, the agreement may provide for the sale, lease or other disposition of such property on such terms and conditions as may be set forth in the agreement. None of the property or facilities jointly owned, acquired or held, or property and facilities of a participant covered by the agreement shall be subject to expropriation by a party to the agreement or another party to any agreement entered into hereunder. The agreement shall be authorized by ordinance adopted by the governing body of the municipality or municipalities which are a party to the agreement and the ordinance shall be published in the official journal of the municipality, in the same manner as are other proceedings of the governing body. Notice of intention to adopt said ordinance shall be given by the governing body of the municipality, and shall be published one time in the official journal of the municipality at least seven days prior to the adoption of the ordinance.