(A) Sound financial policies. In order for the city to establish sound financial and management policies toward the operation, maintenance and control of the refuse and collection systems of the city, it is hereby declared that the refuse and collection systems should be transferred under the direct jurisdiction and control of the Holdenville Public Works Authority.
(B) Enterprise function. In order for the city to establish as an enterprise function, it is hereby declared that the city refuse and collection systems be transferred to the direct control and jurisdiction of the Holdenville Public Works Authority.
(C) Financing of operations. For all auditing, budgeting and financing of operations, it is hereby resolved that the city refuse and collection systems should be transferred to the control of the Holdenville Public Works Authority.
(D) Council as beneficiary. The City Council will remain as beneficiary of all properties and assets of the refuse and collection systems but will transfer operational control to the Holdenville Public Works Authority with all powers enumerated in the creation of the Holdenville Public Works Trust Authority indenture dated April 21, 1964.
(Prior Code, § 8-4-1) (Ord. 562, passed 6-6-1989, eff. 7-1-1989)