(A) The Commission shall control and manage the utility system of the city and its property subject to the limitations and requirements of this article and of the laws of the state of Kentucky.
(B) The Commission shall have full power and authority to appoint and remove all employees of Grayson Utilities and to fix and allow the compensation of such employees.
(C) The Commission shall have the right, and is hereby given power and authority, to do any and all acts necessary and proper in the administration of the Grayson Utility System, including the right to acquire and hold property, both real and personal in its own name, except that in the lowering and raising of rates of service.
(D) The Commission shall make their recommendation to the City Council and such rates so recommended shall not become effective until they have been ratified by the City Council and, except that in the construction of permanent improvements, the Commission shall make their recommendations to the City Council and such permanent improvements so recommended shall not be undertaken until the same shall have been ratified and approved by the City Council.
(E) The Commission shall have the power to do any and all acts necessary and proper in the management and operations of Grayson Utilities and to purchase all supplies and cause all work necessary in connection therewith to be done and paid for out of the funds available for that purpose.
(F) The Commission shall cause all the income and revenue of Grayson Utilities to be segregated into the proper funds and shall make and deliver to the City Council monthly reports in detail of all expenditures and of all collections and of the amount apportioned to each fund. The Commission shall have the power and authority to select depositories for these funds.
(G) The accounts of the Commission shall be audited and inspected monthly by the City Treasurer and a report thereof made to the City Council.
(H) The Commission shall be audited by a public accountant once yearly and a report filed with the Mayor and City Council. The expense of making the annual audit shall be charged to the Commission.
(Ord. 8-2000, passed 12-7-00; Am. Ord. 2-2003, passed 1-7-03; Am. Ord. 5-2005, passed 6-21-05)