N.D. Cent. Code § 17-05-05

Current through the 2023 Legislative Sessions

Section 17-05-05 - Powers

The authority has all powers necessary to carry out the purposes of this chapter, including the power to:

1. Make grants or loans and to provide other forms of financial assistance as necessary or appropriate for the purposes of this chapter;

2. Make and execute contracts and all other instruments necessary or convenient for the performance of its powers and functions under this chapter;

3. Borrow money and issue evidences of indebtedness as provided in this chapter;

4. Receive and accept aid, grants, or contributions of money or other things of value from any source, including aid, grants, or contributions from any department, agency, or instrumentality of the United States, subject to the conditions upon which the aid, grants, or contributions are made and consistent with the provisions of this chapter;

5. Issue and sell evidences of indebtedness in an amount or amounts as the authority may determine, but not to exceed eight hundred million dollars, plus costs of issuance, credit enhancement, and any reserve funds required by agreements with or for the benefit of holders of the evidences of indebtedness for the purposes for which the authority is created under this chapter, provided that the amount of any refinancing shall not be counted toward such eight hundred million dollar limitation to the extent it does not exceed the outstanding amount of the obligations being refinanced;

6. Refund and refinance its evidences of indebtedness;

7. Make and execute interest rate exchange contracts;

8. Enter lease-sale contracts;

9. Pledge any and all revenues derived by the authority under this chapter or from a transmission facility, service, or activity funded under this chapter to secure payment or redemption of the evidences of indebtedness;

10. To the extent and for the period of time necessary for the accomplishment of the purposes for which the authority was created, plan, finance, develop, acquire, own in whole or in part, lease, rent, and dispose of transmission facilities;

11. Enter contracts to construct, maintain, and operate transmission facilities;

12. Consult with the public service commission, regional organizations, and any other relevant state or federal authority or persons as necessary and establish reasonable fees, rates, tariffs, or other charges for transmission facilities and all services rendered by the authority;

13. Lease, rent, and dispose of transmission facilities owned pursuant to this chapter;

14. Investigate, plan, prioritize, and propose corridors of the transmission of electricity;

15. Participate in and join regional transmission organizations;

16. Participate in studies of transmission options for the purpose of identifying opportunities for private transmission investment or private public investment options in transmission which will increase opportunity for export from the state consistent with maintaining a stable grid for the load serving entities in North Dakota; and

17. Do any and all things necessary or expedient for the purposes of the authority provided in this chapter.

N.D.C.C. § 17-05-05

Amended by S.L. 2021, ch. 343 (SB 2313),§ 1, eff. 7/1/2021.