(A) The Commission shall have plenary power and authority to take all steps and proceedings, and to make and enter into all contracts or agreements necessary, appropriate, useful, convenient or incidental to the performance of its duties and the execution of its powers and authority hereunder; provided, that any contract or agreement relating to the financing, or the construction, reconstruction, establishment, acquisition, improvement, renovation, extension, enlargement, increase of equipment of any such works, and any trust indenture with respect thereto shall be approved by the Town Council.
(B) The Commission may employ engineers, architects, inspectors, superintendents, managers, collectors, attorneys, accountants, and such other employees as in its judgment may be necessary in the execution of its powers and duties, and may fix their compensation, all of whom shall do such work as the Commission shall direct. The Commission shall have the power to purchase, hold, sell and convey real or personal property, receive any gift, grant, donation, bequest or devise; sue and be sued; contract and be contracted with; and do any and all things and acts which may be necessary, appropriate convenient or incidental to carry out and effectuate the purposes of the Commission. The Commission is hereby granted the power and authority to acquire in its name or in the name of the town by purchase, lease or by exercise of the power of eminent domain or otherwise such land or lands as it shall determine to be needful and necessary. However, no contract or agreement with any contractor or contractors for labor or materials or both, exceeding in amount the sum set by Council from time to time shall be made without advertising for bids, which bids shall be publicly opened and an award made to the closest responsible bidder, with power in the Commission to reject any and all bids.
(C) The Commission shall make requests of the Town Council for an annual budget at least 60 days prior to the expiration of the fiscal year and shall be charged with the maintenance of same. And, further, the Commission shall make an annual report to the Town Council at the time of the submission of its budget request for the next fiscal year. The Commission shall make such other reports as from time to time it deems appropriate or the same be requested by the Town Council.
(D) The Commission shall set up and maintain a proper system of accounts in accordance with the requirements of the Public Service Commission, showing the amount of revenues received from such waterworks system and the application of the same. At least once each year the Commission shall cause such accounts to be properly audited and a report of such audit shall be open to the public for inspection at all reasonable times.
(Prior Code, § 1-10A04) (Ord. passed 9-9-1981)