ORS 225.085: Klamath Cogeneration Project; service contracts; prohibited transactions.

Notwithstanding any other law, the City of Klamath Falls, acting solely in connection with the ownership and operation of the Klamath Cogeneration Project, may enter into transactions with other persons or entities for the production, supply or delivery of electricity or fuel on an economic, dependable and cost-effective basis, including financial products contracts and other service contracts that reduce the risk of economic losses in the transactions. This section does not authorize any transaction that: (1) Constitutes the investment of surplus funds for the purpose of receiving interest or other earnings from the investment; or (2) Is intended or useful for any purpose other than the production, supply or delivery of electricity or fuel on a cost-effective basis. [1999 c.683 §2]