(a)
Pursuant to article XI-A of the charter of the city, and article 1115a, management and control of the system has heretofore been, and is hereby, transferred to the electric utility board of trustees (the “board”), a five-member board of trustees appointed by the city’s governing body, the city council, in conformity with section 134 of article XI-A of the city’s charter.
(b)
The city council has heretofore delegated and heretofore delegates
to the board all of the city’s authority to:
(1)
Establish rates and charges for use of the system’s facilities;
(2)
Exercise the power of eminent domain with respect to property that
will be used, useful, or required by the system; and
(3)
Authorize without prior approval by the city the issuance of obligations
in the name of the city payable solely from the net revenues of the
system to acquire or construct improvements, extensions, or repairs
to the system.
(c)
The delegations contained in section 31 of the ordinance authorizing the issuance of “City of Greenville, Texas, Electric Utility Revenue and Refunding Bonds, Series 1988A” and “City of Greenville, Texas, Electric Utility System Revenue Bonds, Series 1988B,” adopted by the city council on September 27, 1988, are, in all things, ratified and confirmed, and the provisions of that ordinance are intended to be construed together to grant to the board the full extent of power that may be delegated to the board under law.
(1990 Code, sec. 8.3400; Ordinance
adopting Code)
