HB43 Alabama 2015 Session

Sponsors

Session

Regular Session 2015

Title

Municipal Electric Authority, board of directors, number of members increased, compensation of board members and accounting firm further provided for, Sec. 11-50A-6 am'd.

Description

<p class="bill_description"> Under existing law, the Alabama Municipal Electric Authority is a public corporation comprised of member municipalities which purchases and otherwise provides electric power for distribution by participating municipalities to their citizens. The authority is governed by a board of directors of nine members which number was originally based on the number of member municipalities participating in the authority</p><p class="bill_description"> Currently, 13 municipalities participate in the authority. The terms of board members are for three years and the terms are staggered</p><p class="bill_description"> Also, under existing law, the board members are not provided compensation and the accounting firm that audits the authority is required to be a nationally recognized accounting firm</p><p class="bill_description"> This bill would provide that the number of board members of the authority would equal the number of municipalities participating in the authority and would specify that the terms of any members added to the board would be staggered</p><p class="bill_description"> This bill would authorize the board by unanimous vote to provide compensation to board members not to exceed $600 per meeting and would delete the requirement that the auditing firm be a national accounting firm</p><p class="bill_entitled_an_act"> Relating to the Alabama Municipal Electric Authority; to amend Section 11-50A-6 of the Code of Alabama 1975, to require the members of the board of directors to equal the number of municipalities contracting with the authority for the purchase of bulk electric power and energy; to provide for staggered terms for any new members of the board elected to conform with this amendment; to authorize compensation for board members; and to further provide for the auditing and accounting firm of the authority. </p>

Subjects

Municipalities