NC H392

Repeals Chapter VI of the City of Fayetteville Charter and replaces it with new Chapter VIA governing the Fayetteville Public Works Commission.

Reduces Public Works Commission membership from previous structure to four appointed members plus one ex officio nonvoting City Council member designated by the Mayor, with four-year terms and two-term consecutive limit.

Establishes Commission member qualifications requiring residency in Fayetteville, recognizes ability and good business judgment, and allows removal by two-thirds City Council vote for neglect of duty, felony conviction, or misdemeanor involving moral turpitude.

Grants Commission full authority over utility management including rate-setting, employee hiring/firing, property supervision, and contracts, with annual remittance to City of 2.45% of Electric Fund Total Net Position beginning July 1, 2016.

Requires Commission to maintain 90-120 days' operating expenses in cash reserves, submit to annual audit by certified public accountant, provide quarterly and annual reports to City Council, and comply with all financing documents related to outstanding debt.