Section 262.015 - Authority for joint operating agency formation; powers(1) Any three or more cities or people's utility districts or combinations thereof, organized under the laws of this state, may form a joint operating agency to plan, acquire, construct, own, operate and otherwise promote the development of utility properties for the generation, transmission and marketing of electricity, electrical capacity or renewable energy certificates.(2) A joint operating agency may participate with other publicly owned utilities, including other joint operating agencies, or with electric cooperatives, or with privately owned electric utility companies, or with any combination thereof, for any purpose set forth in subsection (1) of this section, whether such agencies or utilities are organized or incorporated under the laws of this state or any other jurisdiction. However, no joint operating agency may act alone or as the managing participant to acquire, construct, own or operate utility properties.(3) Joint operating agencies, cities, people's utility districts and privately owned utilities, or combinations thereof, may participate in joint ownership of common facilities in accordance with ORS 225.450 to 225.490 or 261.235 to 261.255. 1973 c.722 §2; 2007 c. 301, § 43; 2007 c. 895, § 14