The Utility Board may exercise all the powers of the city, city utility or combined utility system it administers, with the following exceptions.
(A) Taxes. A Board may not certify taxes to be levied, pass ordinances or amendments, or issue general obligation or special assessment bonds.
(B) Property. Title to all property must be in the name of the city but the Board has full control of the property subject to the limitations imposed by law.
(C) Reports to Council. The Board shall make a detailed annual report to the Council including a complete financial statement.
(D) Proceedings published. Immediately following a regular or special meeting, the Board Secretary shall prepare and cause to be published in a newspaper of general circulation in the city a condensed statement of proceedings including a list of all claims.
(1999 Code, § 25.06)