A. The board of trustees may exercise all powers of the city in relation to the communication utility, subject to chapter 388 of the Iowa Code as amended from time to time and subject to the following exceptions:
1. The board may not certify taxes to be levied, pass ordinances or amendments, or issue general obligation or special assessment bonds.
2. The title to all property of a city utility or combined utility system must be held in the name of the city, but the utility board has all the powers and authorities of the city with respect to the acquisition or disposition of such property, and the management, control and operation of the same, subject to the requirements, terms, covenants, conditions and provisions of any resolutions authorizing the issuance of revenue bonds, pledge orders, or other obligations which are payable from the revenues of the city utility or combined utility system, and which are then outstanding.
3. The board shall make to the council a detailed annual report, including a complete financial statement.
4. Immediately following a regular or special meeting of the board, the secretary shall prepare a condensed statement of the proceedings of the board and cause the statement to be published in a newspaper of general circulation in the city. The statement must include a list of all claims allowed, showing the name of the person or firm making the claim, the reason for the claim, and the amount of the claim. Salary claims must show the gross amount of the claim except that salaries paid to persons regularly employed by the utility for services regularly performed by them, must be published once annually showing the gross amount of the salary.
5. The city attorney shall be chief legal counsel for the board.
6. To facilitate public access to the activities of the board, the board shall hold its meetings and locate its administrative offices in city hall or such other space in city facilities as may be designated for such purposes by the city council.
B. The board of trustees shall control revenues allocated to the communication utility and all monies derived from the operation of the utility, the sale of utility property, interest on investments, or from other sources related to the utility. All city utility monies received must be held in a separate utility fund, with a separate account or accounts for each utility. (Ord. 4796, 12-12-2005)