Section 1. Purpose.

The purpose of the Association is to promote and encourage the fullest possible efficient use of electric energy by making such energy available at the lowest cost consistent with sound economy and prudent management of the business of the Association.

Section 2. Principal Office.

The principal office of the Association shall be located in the service area of the Association; but the Association may have such other offices as the Board of Directors may designate or as the business of the Association may require from time to time.

Section 3. General Powers.

The Association shall have, and may exercise, the power to do any and all acts or things necessary or convenient for carrying out the purposes for which it was formed and for conducting the business of the Association, including, but not limited to, those specific powers enumerated in Section 77-5-231, Mississippi Code Annotated (1972, as amended).