70-658.

Existing utility; lease, purchase, or acquisition by district; franchise and contracts; compliance required.

In the event that any such district shall lease, purchase or acquire, in any manner, the generating plant, distribution system or other property of an existing utility then or theretofore furnishing electrical energy for heat, light, power, or other purposes, for the use or benefit of any city, of whatever class, or village in the State of Nebraska, or its inhabitants, and for use within the corporate limits of such city or village, such district shall be bound by, shall carry out, and shall perform the terms and conditions of any franchise or contract assigned to such district, and shall comply with the provisions of any existing applicable laws or ordinances under which such existing utility, such district's predecessor or assignor, operated at the time such lease, purchase or acquisition of the generating plant, distribution system or other property of such existing utility shall have been made.