(A) On and after March 1, 1950, the utilities of the city, the gas, water, and sewers, shall be operated and maintained by and under the supervision of the Utility Plant Board.
(B) The City Council vests in the Utility Plant Board full authority to act for and on behalf of the City Council in the operation and maintenance of its utilities as provided by the statutes.
(C) All contracts heretofore entered into by the city and all other obligations relative to the aforesaid utilities and those operations, which have not already been executed in full, are assigned and transferred to the Utility Plant Board for the use and benefit thereof.
(D) The Utility Plant Board will set up and establish a sinking fund to retire any revenue bonds that are now outstanding against the revenues of any of the utilities or to retire any bonds which may hereafter be issued by the Board.
(E) If and when the Utility Plant Board deems that a surplus of funds has been created from the revenues of the utilities, the surplus shall be paid over to the general fund of the city for general purposes of the city.
(F) The City Clerk and the City Treasurer will, on March 1, 1950, transfer all moneys then on deposit in the utility bond fund, water fund, and gas fund to the Utility Board.
(G) All of the real estate and other property now held by the city for the sole use of its utilities, including tools, equipment, and material is transferred and the title thereto vested in the utility plant board.
(Ord. passed 2-20-50; Am. Ord 18:98, passed 8-10-98)
(H) Not later than April 30 of each calendar year the Utility Plant Board shall submit to the City Council a proposed budget for the fiscal year beginning on July 1 of that year, which proposed budget shall be approved, disapproved, or modified by the City Council, as the City Council may determine.
(I) No additions, changes, or deletions in the budget of the Utility Plant Board shall become effective until they have been approved by the City Council.
(J) All personnel policies and procedures enacted by the Utility Plant Board shall be presented to City Council for review at its next regularly scheduled meeting following adoption. Upon request, the Utility Plant Board shall provide to the City Council a copy of any other policy or procedure for its review.
(Ord. passed 8-9-82; Am. Ord. 18:98, passed 8-10-98)