In addition to the powers otherwise conferred on cities of this state, a city owning and operating an electric distribution system shall have the authority to:

1. (a) Purchase, or generate, or both, electric power and energy for the purpose of disposing of such power and energy to the United States of America, department of energy, acting by and through the Bonneville power administration, or its successor, through exchange, net billing or any arrangement which is used for supplying the needs of the city for electric power or energy;
2. (b) Enter into power sales or power purchase contracts with entities engaged in generating, transmitting, or distributing electric power and energy to provide for the purchase, sale or exchange of electric power or energy upon such terms and conditions as shall be specified in the power sales or purchase contract; and

3. (c) Establish, operate and fund energy conservation or other public purpose programs for the purpose of promoting efficient use of energy and energy conservation by city consumers including, but not limited to, programs to install energy efficient and energy conservation devices or measures in consumer buildings and structures served by the city and to grant low-interest loans to city consumers for the installation of such measures, provided such measures are provided on a nondiscriminatory basis to all classes of customers similarly situated;

   and such authority shall not be subject to the requirements, limitations, or procedures contained in sections 50-325, 50-327 and chapter 28, title 67, Idaho Code.

[50-342, as added by 1971, ch. 31, sec. 1, p. 75; am. 1981, ch. 30, sec. 1, p. 48; am. 1982, ch. 194, sec. 1, p. 521; am. 1999, ch. 283, sec. 1, p. 706; am. 2005, ch. 213, sec. 18, p. 654.]