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Commission approves charter language to formalize return-on-equity agreement with Board of Water and Light
Summary
The commission approved substitute charter language that formally recognizes a return-on-equity agreement between the city and the Board of Water and Light (BWL); counsel said the draft was reviewed by attorneys for the city and BWL and is intended as a negotiable framework.
The Lansing Charter Review Commission approved substitute language to the city charter that would expressly provide for a return-on-equity arrangement between the city and the Board of Water and Light.
Counsel Kristin Rewa told the commission the language (beginning on page 17 of the meeting packet) had been drafted by city counsel, revised with input from the Board of Water…
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