A. If an application is granted in whole or in part, a power purchase certificate shall be issued by the authority in accordance with its order. Power purchase certificates shall be numbered consecutively according to date of issuance, shall set forth the name of the applicant to which issued and the territory for which issued. The certificate so issued may be assigned by the holder after first securing the approval of the authority, but a transfer by operation of law or by virtue of any judicial, trustee‘s or other involuntary sale shall not require the authority’s approval.

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B. The application of any applicant shall be granted for so much of the territory included in its application as is then being served with electrical energy by it. No power purchase certificate shall be issued to an applicant for territory which is then being served with electrical energy by a person or operating unit, subject to the applicable provisions set forth in section 30-154 respecting districts and incorporated cities and towns. If applications for power purchase certificates are filed by two or more applicants covering wholly or in part the same geographical area, and no electrical service is then being rendered in the area by any person or operating unit, the authority shall award a certificate to the applicant or applicants which, in the judgment of the authority will best serve the area after giving due consideration to the preparedness of competing applicants to serve the territory in question, the investments involved, the adequacy of the service proposed to be rendered to consumers therein, and the time required to furnish the service and any other relevant and pertinent matters bearing upon the controversy.

C. No applicant for the whole or any part of an area in which no electrical service is then being rendered shall, after the filing of the first application for the unserved territory, begin service therein pending final decision by the authority on all conflicting applications covering the territory.

D. No applicant for a power purchase certificate shall be granted a certificate until it first enters into a contract with the authority for the payment to the authority, in the manner and at the time required by the authority, of the current administration charge, if any, applicable to the power to be purchased under contracts with the authority.