(a) Constitutes the investment of surplus funds for the purpose of receiving interest or other earnings from the investment; or
(b) Is intended or useful for any purpose other than the production, supply or delivery of electricity on a cost-effective basis.
(2) Nothing in subsection (1) of this section prohibits a people’s utility district or a municipal electric utility from entering into any transaction for the acquisition, construction, improvement or equipping of a renewable energy facility or for the purchase or sale of electricity, electrical capacity or renewable energy certificates. [1999 c.683 §1; 2007 c.301 §40; 2007 c.895 §11]
Note: 261.348 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 261 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.