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163.05 OFFICERS.
   The City Manager shall serve as the Chairman of the Water Board. At the first meeting of the Water Board and annually thereafter, it shall elect one of the Boardmembers to act as Vice Chairman. The Chairman shall appoint a Secretary and Treasurer, who need not be members of the Water Board. The Secretary and Treasurer may be the same person. The Vice Chairman and the Secretary and Treasurer shall hold office at the will of the Water Board. If the Secretary and Treasurer are not otherwise Boardmembers, then the Secretary and Treasurer shall not be voting members of the Water Board.
   The Chairman and Treasurer of the Water Board, upon their appointment and taking office, shall furnish and file with the Clerk of the City, such bonds in an amount and upon such terms to be set by the Water Board from time to time, the cost of such bond to be payable from revenues of the System and such bond to be payable to the City and conditioned as to the faithful performance of their respective duties as are fixed by the Water Board.
(Ord. 1501. Passed 8-24-10.)
163.06 POWERS AND AUTHORITY.
   The Water Board shall have full and complete power and authority related to the operation, maintenance, extension, rehabilitation, improvement, supervision, management, control and operation of the System, except to the extent any such power is specifically reserved, pursuant to any administrative rule or regulation, state law, judicial decision or otherwise, to the Council of the City or the City Administration. All bills for water service shall be collected and accounted for by the Water Board in the manner and form required by law, the Public Service Commission of West Virginia and the ordinances of the City, and all disbursements and accounts of the System shall be ordered paid out consistent with all duly adopted standard operating procedures, accounting principles and ordinances of the City, including any ordinances pursuant to which the City may have authorized and issued any bonds, which bonds by their terms are payable from and secured by the revenues of the System. The Water Board shall have the power and authority to make all contracts, agreements and other matters necessary or proper for the full and complete supervision, management and control of the System as permitted by law.
(Ord. 1501. Passed 8-24-10.)
163.07 BUDGET.
   The Water Board shall have power to fix and maintain a separate budget.
(Ord. 1501. Passed 8-24-10.)
163.08 REPORTS.
   The Water Board shall provide reports, at least annually, or as otherwise required by law, to the Council, indicating the System’s financial condition. The Water Board shall also provide the City with yearly audited financial statements of the System, minutes of all meetings of the Water Board, an annual budget for the System, and other information as may reasonably be requested.
(Ord. 1501. Passed 8-24-10.)