Section 33:4316 - Powers and duties of commission; rates; reports; employeesThe commission shall exercise the following powers and shall perform the following duties:
(1) to manage and operate the electric light and power and water plant systems owned by the municipality; provided, however, that the municipality shall be without right or authority to sell or lease either of the said plants or systems and that it is understood that the power herein conferred upon said commission is restricted solely to the management, supervision and operation of said systems herein defined;(2) to employ such employees, to serve at the pleasure of the commission, as may be necessary to manage and operate said systems efficiently; to fix the terms of employment and the salaries to be paid such employees; to direct such employees in the performance of the duties assigned to them; and to discharge such employees when found inefficient or for any cause;(3) to make and prescribe rates for electric light, power and water service and facilities, and to appropriate funds for the maintenance and improvements of such systems;(4) to insure all property used in the operation of the systems against the loss by fire, tornado, and other causes in such amounts and with such coverage as the members of the said commission may deem necessary or advisable for the purpose of protecting said properties;(5) to make monthly reports to the mayor and board of aldermen of the municipality of all of their actions and transactions of every kind, together with a complete statement of the revenues received and expenditures made; to prepare quarterly a complete statement showing the financial condition of said systems; to make annually a detailed statement covering the entire management and operation of said systems, together with any recommendations which they may have or desire to make for the further development, improvement, enlargement, or expansion of said systems; provided, however, that the commission shall not be required to cause these statements to be published, but may do so if it desires; provided further that the reports shall be open to public inspection;(6) to employ a superintendent or manager of ability and experience in operating similar systems whose term and salary shall be fixed by the commission and who may be placed in control of the combined systems; or there may be a separate superintendent for each system, as desired by the commission;(7) to purchase materials and supplies for said systems, and to contract for the installation of any equipment necessary for said systems, or for the improvement of said systems. Supplies and materials up to the amount provided for by state law at any one time may be purchased by the commission, and contracts for services to be rendered to the said systems in an amount not exceeding $2,500.00 may be let by the commission without publicly advertising for bids. In the event of an emergency, the commission may purchase property without advertising for bids. Before payment is made either for the materials so purchased or contract let for services, the authority of a majority of the commission must be obtained;(8) to prescribe rates at which electricity, power, and water shall be sold and supplied, and the consideration to be received for all such service charges or connections, or for any services rendered by such utilities, and to change same whenever in the judgment of the commission it is necessary so to do. The commission, however, shall be without right or authority to permit the free use of water, electricity, or power, or free services to any person, firm, or corporation, public or private, or to any public agency or instrumentality. The rates and charges fixed by the commission shall at all times be sufficient to provide the revenues and means necessary for the proper operation and management of the system and for the payment of the principal and interest of all outstanding bonds and all other obligations payable from the revenues of said system;(9) to hire and employ rate experts or other technical experts, which, in the judgment of the commission, may be necessary for the proper operation and maintenance of said systems, and with full authority to fix the compensation for such services.