(A) Officers. The Authority shall, upon the appointment of its members, organize and elect the following officers.
(1) Chairperson and Vice-Chairperson. The Authority shall choose a Chairperson and a Vice-Chairperson, who shall serve for terms of one year and until their successors are chosen and qualified. The Chairperson shall preside over all meetings of the Authority, shall execute all documents on behalf of the Authority which have been approved by the Authority and shall generally perform all duties normally attributed to the chief executive officer of a corporation. The Vice-Chairperson shall assume the duties of the Chairperson in his or her absence.
(2) Secretary-Treasurer. The Authority shall choose either from its members or from without its members a Secretary-Treasurer, at a salary to be fixed by the Authority, who shall execute an official bond to be set and approved by the Authority and paid for by the Authority. The Secretary-Treasurer shall keep the minutes of all meetings of the Authority and shall keep complete and accurate financial records, including a set of books showing all receipts and expenditures of the Authority. The Secretary-Treasurer shall preserve on file duplicate vouchers for all expenditures and shall present to the Authority, upon request, but not less than annually, complete reports of all financial transactions and the financial condition of the Authority. The books and vouchers shall at all times be subject to examination by the Board of Commissioners of the city. In addition, the Secretary-Treasurer shall transmit, at least once annually, a detailed report of all acts and doings of the Authority to a legislative body of the city.
(B) Employees. The Authority may employ necessary counsel, accountants, agents and employees to carry out its work and functions and prescribe rules and regulations as it deems necessary.
(1977 Code, § 9.1-26) (Ord. 78-22, passed 7-10-1978)
Statutory reference:
Similar provisions, see KRS 154.50-336