All income, revenue, profits, and other funds received by the Authority shall be deposited with the Treasurer of the City of Grand Island, as Ex Officio Treasurer of such Authority without commingling such money with any other money under the Treasurer's control. The money of the Authority shall be disbursed by the Treasurer by check or draft only upon warrants, orders, or requisitions, specifying the purpose thereof, duly executed by the Chairperson of the Authority, or such other person as may be duly authorized and designated by the Authority of any such activity.