§ 2-20-3. Authority and duties of board of commissioners.

A.

Salaries. "Employees," for the purpose of this section, means all regular full-time or part-time employees of the Memphis light, gas and water division but does not include members of the board of commissioners of the Memphis light, gas and water division. Any increase in the salaries or compensation of the president of the Memphis light, gas and water division shall be submitted to the city council for approval. All other increases in the amounts of salaries or compensation for other employees may be approved by the board of commissioners of the Memphis light, gas and water division, provided that no such increase shall result in annual compensation to such employee in excess of that of the president.

B.

Contracts. The board of light, gas and water commissioners shall have authority to make contracts entailing any obligations or involving any expenditure for any amount without the consent and approval of the city council of the City of Memphis, so long as the amount is within the budget established by the board of commissioners of the Memphis light, gas and water division and approved by the city council.

C.

Budget submittal. The board of commissioners of the Memphis light, gas and water division shall, on or before December 1 of each year, provide and forward to the city council for distribution to councilmembers a copy of the preliminary budget adopted by the board of commissioners for the coming calendar year, and the council shall schedule such review as it deems necessary by the energy committee on or before January 15 of the calendar year. The board of commissioners shall thereafter forward to the city council, on or before February 15 of the calendar year, the final budget adopted by the board of light, gas and water commissioners. The city council shall, by separate resolution, adopt and/or amend and approve the budget of the Memphis light, gas and water division; provided, however, the council shall approve in any such budget all amounts as are necessary to meet the requirements contained in the bond resolutions applicable to the electric, gas and water divisions, which bond resolutions have been approved by the council.

D.

Form of budget. The budget of the Memphis light, gas and water division shall be submitted by the Memphis light, gas and water division in such form as to comply with the requirements of the Federal Energy Regulatory Commission, the accounting principles applicable to utilities, the regulations or any other applicable regulatory body, and in accordance with the provisions of the bond resolutions approved by the city council for the electric, gas and water divisions.

(Code 1985, § 2-258; Ord. No. 3509, §§ 1—4, 11-5-1985)