Municipally owned corporation
A municipally owned corporation is a corporation owned by a municipality. They are typically "organisations with independent corporate status, managed by an executive board appointed primarily by local government officials, and with majority public ownership." Some municipally owned corporations rely on revenue from user fees, distinguishing them from agencies and special districts funded through taxation. Municipally owned corporations may also differ from local bureaucracies in funding, transaction costs, financial scrutiny, labour rights, permission to operate outside their jurisdiction, and, under some circumstances, in rights to make profits and risk of bankruptcy.The causes and effects of municipally owned corporations are posited to be different from those of state-owned enterprises. Corporatization may be more utilised locally rather than nationally allowing more hybrid or flexible forms of public service delivery such as public-private partnerships and inter-municipal cooperation.