This makes me wonder about a lot of "how will this work" questions. For example will it legally require 100% of taxation be used to provide services, or will taxation become profit center for the owning company?

Another is will they be required to follow certain laws that municipalities are required to operate under? For instance, here in NM it is illegal for a quorum of the governing body to meet without 72 hour advance public notification and agenda and no item may be considered if it is not in that agenda.

And of course the whole statement that the company will have significant say in the makeup of the 3-person board. What exactly does that mean? Can only company approved people run for office? Is this watering down representative democracy? I don't know because for stuff like this, the devil is in the details. (and what happens when the company becomes insolvent?)