municipal acquisition of an incumbent utility’s facilities for the purpose of forming a public utility, i.e. taking municipal ownership of the distribution system.
Pros
Gives the community ultimate control over all utility decisions
Cons
Can be expensive, risky and time consuming
Real Talk
Only for the brave and most committed of communities. It should be considered in the event of a utility bankruptcy or as a last resort as time and money can likely be spent in more effective ways.