(a) The board created pursuant to this subchapter shall have full power to operate and control the plant entrusted to its direction by the city ordinance creating the board as provided in § 14-201-203.
(b) Subject to such restrictions as may be prescribed in the ordinance creating the board, the board shall have full power to buy and pay for out of the earnings or revenues of the plants for the welfare and benefit of the citizens and inhabitants of the municipal corporation, and the board may purchase and pay for out of the revenues derived from the operation of the power plants, all necessary equipment needed in the operation of the plants and for such lands as may be necessary and the board may also sell any real or personal property, not necessary to be used in the operation of the plant, but shall not sell or rent the right to own, use, and operate the necessary equipment of the plant.
(c) Except as its powers may be limited by city ordinance, the board shall have the same rights and powers with reference to the nature, extent, and performance of its duties and with reference to the employment of the employees and other necessary assistants as is now provided by law with reference to the boards of commissioners of municipal improvement districts.
(d) Nothing in this subchapter shall be construed to limit or impair the rights of the city council to approve any rates or charges for electric, water, or sewer service.
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