Repeals Chapter VI, concerning the Public Works Commission, of the Fayetteville City Charter, Chapter 557 of the 1979 Session Laws.

Amends the Fayetteville City Charter by adding new Chapter VIA, concerning the Public Works Commission. Creates the Fayetteville Public Works Commission (Commission) and continues it in its current form until October 1, 2015, at which time the membership increases to five. Sets terms of office at four years and requires a new appointment to be made in September of 2015, for a term of four years. Prohibits a member from serving more than two consecutive terms unless the City Council, by a two‑thirds vote, increases the number of consecutive terms allowed and prohibits service on the Commission by an elected official of the City of Fayetteville or an employee of the City or the Commission, but requires the Mayor to designate a member of the City Council to serve on the Commission as an ex officio nonvoting member. Provides for filling vacancies, qualifications of commissioners, organization of the Commission, required bond by Commission members, and member compensation. Specifies circumstances under which a Commission member may be removed by a two-thirds vote of the City Council. Sets out the Commission's powers and duties. Requires the Commission to appoint a general manager. Specifies that the title to all property under the Commission's management and control is and remain in the City's name. Sets out provisions concerning the sale of utility services, billing electric utility customers, keeping records and accounts, handling receipts and disbursements, maintaining cash reserves, and auditing. Requires the Commission, beginning July 1, 2015, to within 45 days of the financial close of each month remit to the City of Fayetteville 5% of the gross retail sales, less any taxes, of all utility services, except water and sewer services, provided to residential, commercial, and industrial customers of the Commission. Prohibits additional cash contributions or transfers from the Commission to the City unless: (1) the Mayor declares a state of emergency and (2) the Commission and City Council agree on the amount of the cash contribution or transfer. Sets out reporting requirements. Includes provisions governing issuance of revenue bonds, entering contracts, providing services to the City, making special assessments, participating in the retirement system, and investment authority.

Specifies that the current members of the City's Public Works Commission may continue to serve until their successors are appointed. 

Effective July 1, 2015.