Section 49-34A-46 - Payments to municipality owning electric system from revenues of electricutility operating within municipality. - South Dakota Statutes

49-34A-46. Payments to municipality owning electric system from revenues of electric utility operating within municipality. Any electric utility with facilities within the boundaries of a municipality, as they exist from time to time, which has a municipally owned electric system serving over fifty percent of the customers in the municipality, may, at the option of the municipality, pay to the municipality an amount to be agreed upon by the electric supplier and the governing body of the municipality. If the parties have not agreed on the amount on or before May first following the calendar year from which the amount is to be paid, the amount to be paid shall be four percent of the total gross revenue collected by the electric supplier from the sale of power delivered to structures and electric service outlets situated within the municipality during the year for which the amount is paid.

Source: SL 1965, ch 254, § 29; SDCL, § 49-41-32; SL 1970, ch 261, § 29; SL 1975, ch 283, § 42 (6); SL 2001, ch 256, § 2.