(A) Treasurer. The treasurer of the Authority:
(1) Shall receive and is responsible for authority money;
(2) Is responsible for the acts of the assistant treasurer;
(3) Shall disburse authority money by check only;
(4) Shall keep an account of the source of all receipts, and the nature, purpose, and authority of all disbursements; and
(5) Shall file the authority’s detailed financial statement with its secretary at least once a year at the times set by the authority.
(B) Assistant treasurer. The assistant treasurer has the powers and duties of the treasurer if the treasurer is absent or disabled.
(C) Treasurer’s bond. The treasurer shall give bond to the state conditioned for the faithful discharge of official duties. The bond must be approved as to form and surety by the authority and filed with the secretary. The bond must be for twice the amount of money likely to be on hand at any one time. The amount of the bond shall be as determined at least annually by the authority. The amount of the bond must not exceed $300,000.