(A) The Water and Sewer Commission shall have direct supervision, management and control of the entire municipal water and sewer system in the maintenance, operation and extension thereof, as fully and completely as if the Water and Sewer Commission represented private owners, and the power to hire and discharge employees and to fix their compensation.
(B) The Water and Sewer Commission is specifically prohibited and restricted from borrowing funds for the purpose of making capital improvements, including extensions of the water and sewer service lines, without first obtaining approval of the City Council for the borrowing of the funds.
(C) The Water and Sewer Commission may borrow funds, without City Council approval, in an amount equal to one month’s current operating expenses of the Water and Sewer Commission; however, this amount shall not exceed $100,000.
(D) The Water and Sewer Commission shall not enter into contracts for capital improvements obligating an expenditure of funds that cannot be paid from the operating revenue of the Water and Sewer Commission.
(1989 Code, § 51.07) (Ord. 484, passed - -1937; Am. Ord. 1465, passed - -1978)