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The compensation of each of the members of the Board created by this chapter shall be $5,000 per year, and shall be paid as follows. The first quarter of each member’s salary shall be paid on March 30; the second quarter on June 30; the third quarter on September 30; and the remaining quarter on December 30 of each year. Each quarterly payment shall be pro-rated as follows: electric 31%; water 31%; wastewater 31%; and telecom 7%.
(Prior Code, § 25-16) (Ord. 15-04, passed 2-23-2015)
(A) All members of the Board created by this chapter shall be appointed pursuant to the terms of I.C. 8-1.5-3-1 et seq. and amendments thereto; the majority members of the Utility Board shall be appointed by the Mayor and the minority members of the Utility Board shall be appointed by the Common Council; the Mayor shall appoint to the vacancies which occur on the Board for the terms expiring on November 30 and the Common Council shall appoint the members to the vacancies which occur on the Board on April 1. Their terms of office shall be for four years. Upon the expiration of the term of any member of the Board, his or her successor shall be appointed for a term of four years as above set out.
(B) All members of the Board shall hold office for the term for which appointed, as hereinbefore provided and until their successors are duly appointed and qualified.
(Prior Code, § 25-17) (Ord. passed 3-11-1963; Ord. 77-1, passed 1-24-1977)
The Board created by this chapter shall have all the power, authorities and duties conferred upon the Board by law, it hereby being contemplated that, among the powers conferred upon the Board by statute, there is also included the power to employ legal counsel to represent and advise the Board, at compensation as shall be determined by the Board.
(Prior Code, § 25-19) (Ord. passed 3-11-1963)