Notwithstanding the provisions of § 49-34A-42 , whenever a municipality which owns and operates an electric utility extends its corporate boundaries through annexation or consolidation, such municipality shall either offer to purchase any electric utility properties and service rights within the annexed areas owned by any electric utility, or permit such utility to serve and expand in the annexed area, as provided in this chapter. The municipality shall notify the affected electric utility in writing of the boundaries of the annexed area and shall indicate such area on appropriate maps.
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