7-83-204 - Creation on petition of electors.
7-83-204. Creation on petition of electors.
A petition, signed by ten percent (10%) of the electors of any municipality proposed to be included in a district, declaring that the public interest or necessity demands the creation and maintenance of a power district, and describing the territory to be included in the proposed district, may be filed with the commission. Upon receipt of the petition, the commission shall make an investigation of the propriety of creating the proposed district, and of the character of utility feasible and economically desirable for the district, and of the territory to be served. After investigation, the commission shall issue an order approving or disapproving the creation of the district and, if it approves, determining the character of utility appropriate to the district. If the commission finds that:
(1) The public convenience and necessity require the creation of a power district; and
(2) The creation of a power district is economically sound and desirable;
it shall enter an order so finding, approving the creation of the district and defining its territorial limits, a certified copy of which order shall be filed by the commission. Thereupon, the district shall be and constitute a municipal corporation as provided in § 7-83-201.
[Acts 1935 (E.S.), ch. 4, § 4; C. Supp. 1950, § 3708.50 (Williams, § 3708.53); T.C.A. (orig. ed.), § 6-2706.]