Private Acts of 1951 Chapter 482

SECTION 1.  That The Lookout Valley Utility District of Hamilton County, Tennessee, is hereby authorized and empowered to acquire, construct, reconstruct, improve, better, extend, maintain, and operate a natural gas system within or without said district and to purchase from and furnish, deliver, and sell to any municipality, the state, any public institution, and the public generally any of the services, facilities, and commodities furnished thereby.

SECTION 2.  That said district shall have the power and is hereby authorized from time to time to issue its negotiable bonds for the purpose of paying the cost of acquiring, constructing, reconstructing, improving, bettering, and extending such natural gas system.  Any bonds issued hereunder shall be authorized and issued in the manner provided in Chapter 248 of the 1937 Public Acts of Tennessee, constituting "The Utility District Act of 1937," together with all amendments thereto, for the issuance of other bonds.  In acquiring, constructing, reconstructing, improving, bettering, extending, operating, and maintaining a natural gas system; and in the charging, revision, and collection of rates, fees, tolls, and charges for services, facilities, and commodities furnished by such system; and in the issuance of such bonds, said district shall have all the rights, powers, and duties provided in Chapter 248 aforesaid, as heretofore and hereafter amended, for the acquisition, construction, reconstruction, improvement, betterment, extension, maintenance, and operation of other utility properties and for the charging, revision, and collection of rates, fees, tolls, and charges for services, facilities, and commodities furnished by other utility properties, and the authorization and issuance of bonds by said district.

SECTION 3.  That said district shall have the power and is hereby authorized to issue bonds to refund any bonds of said utility district.  Such refunding bonds shall be payable solely from the revenues to be derived from the operation of the utility system or systems of such district and shall be issued in accordance with the provisions of Section 9 of said Chapter 248 of the 1937 Public Acts of Tennessee, together with all amendments thereto, provided that none of such bonds may be issued at less than par.  Such refunding bonds may be sold in such manner and upon such terms as the board of commissioners shall determine or may be delivered in exchange for a like amount of the original obligations authorized to be refunded thereby.

SECTION 4.  That the powers conferred by this Act shall be in addition and supplemental to the powers conferred by any other law and may be exercised by the board of commissioners without the necessity of approval by the subscribers for services of such districts or by any other person, body, or group.

SECTION 5.  That this Act shall take effect from and after its passage, the public welfare requiring it.

Passed:  March 12, 1951.