(a) Cooperatives may expend their funds, including the proceeds of their notes, bonds, or other obligations, for the purposes of modifying demand for electric capacity or energy through conservation or load management by participation in such facilities, projects, and programs as the governing board of the cooperative determines will effectively accomplish such purposes. Such facilities, projects, and programs may include providing or financing facilities or programs for conservation or load management, which may be: (i) owned or operated by the cooperative or by others, (ii) leased or licensed by the cooperative to others, or financed by loans by the cooperative to others, in either case on such terms and conditions as the governing board of the cooperative may determine.

(b) A cooperative may issue its notes, bonds, or other obligations pursuant to any statutory authority conferring such power for carrying out the purposes of this section. (Added 1989, No. 112, § 5a, eff. June 22, 1989.)