(65 ILCS 5/11-119.1-2) (from Ch. 24, par. 11-119.1-2)
Sec. 11-119.1-2.
The General Assembly finds:
(a) that adequate, economical and reliable sources of electrical energy
are essential to the orderly growth and prosperity of municipalities in
the State of Illinois and that a shortage of such sources would endanger
the safety, health and welfare of the residents of the State of Illinois
and the growth and development of its municipalities;
(b) that municipal utility systems operating in the State of Illinois
for the purpose of supplying electrical energy have sustained greatly increased
capital and operating costs, causing the postponement of construction of
facilities and thereby adversely affecting the availability of adequate,
economical and reliable sources of electrical energy;
(c) that it is desirable for the State of Illinois to authorize municipal
utility systems to jointly plan, finance, own and operate facilities relating
to electrical energy and the acquisition of fuel for the generation of electrical
energy through the creation of joint agencies in order to achieve economies
and efficiencies not possible for municipalities acting alone;
(d) that the joint planning, financing, ownership and operation of facilities
relating to electrical energy and the acquisition of fuel for the generation
of electrical energy and the issuance of revenue bonds as provided herein
is for a public use and serves a valid public purpose and is a means of
achieving economy, adequacy and reliability in the supply of electrical energy
and meeting the future needs of the State of Illinois and its residents; and
(e) that the intent and policy of the General Assembly when enacting this
Division is to enable municipal utility systems to jointly plan, finance,
own and operate facilities for the generation and transmission of electrical
power and energy and related facilities or other facilities necessary or
convenient for the planning and operation of a system for the production
and transmission of electrical power and energy.
(Source: P.A. 83-997.)
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