(a) There is hereby created a quasi-municipal corporation, having a distinct legal existence from the state, to be known as the Block Island utility district, the boundaries of which shall be coterminous with the boundaries of New Shoreham, Rhode Island. The utility district shall have and be entitled to exercise the powers, rights, and functions set forth in this chapter. Notwithstanding any other provision of these general laws or of any regulation, ordinance, rules or requirements promulgated thereunder to the contrary, upon the creation of the utility district, all rights, obligations, and duties under contracts and agreements to which BIPCo is a party that are assumed by or transferred to the utility district shall not be affected, modified, limited, or altered as a result of such assumption or transfer and shall be assumed, performed, and be fully enforceable by and against the utility district.
(b) In the event that BIPCo and the utility district are unable to agree on the price, terms and conditions of such sale of personal property and assumption of such obligations, then BIPCo shall continue as the electric utility servicing the utility service area, and the Block Island utility district shall not function as an electric utility.
History of Section.
P.L. 2017, ch. 280, § 1; P.L. 2017, ch. 293, § 1.