(A) The Power Board shall be advisory to the Council and shall only have those powers and duties prescribed by this chapter as it may be amended from time to time by the Council:
(1) Recommend to the Council the employment of needed personnel and be fully informed at all times as to the activities of electrical employees and requirements of the system; electrical system employees shall be accountable to the Board or to any power superintendent employed by the Council upon the Board’s recommendation;
(2) Make periodic review of the material, equipment and inventory needs of the electrical system, as well as its labor needs, and approve a budget for submission to the Council annually, taking into account all projected financial needs of the system, needed reserves and anticipated revenues;
(3) Remain informed as to the collection of revenues by the Town Clerk and, based upon the system’s receipts and expenses, advise changes in electrical rates from time to time as may seem necessary for recommendation to the Council who may adopt the same pursuant to §§ 50.45 through 50.47. The Board shall also plan for future needs of the system and include the future requirements indicated by the planning to the Council as a part of the budget; and
(4) Review and consider the content and performance of contracts between the town and other entities for the supply and transmission of electricity and for the supply of services and materials for use by the system in order to make recommendations to the Council regarding the contracts.
(B) The Power Board shall meet at least once a month and at other times deemed necessary for the transaction of business. All meetings shall be open to the public. The Board shall keep minutes of its proceedings showing the vote of each member and all official actions. A copy of every policy, rule, regulation, determination, recommendation or other official action shall be filed with the Town Clerk and shall be a public record. The Board shall adopt its own rules of procedure. A quorum shall consist of four members, and no action shall be taken by the Board without the unanimous vote of at least four members in favor of the action.
(1974 Code, § 15-1-2) (Res. 02-006, passed 8-13-2002; Ord. 02-001, passed 8-13-2002; Ord. 15-004, passed 11-24-2015)