(a) The sole and exclusive administrative responsibility for the proper operation of the trust fund and for making effective the provisions of this article are hereby vested in a Board of Trustees which shall be designated as the administrator for the fund. The Board shall consist of the Town Commission. The Mayor of Melbourne Beach shall serve as Chairman of the Board. The Vice-Mayor shall serve as Vice-Chairman of the Board. The filling of vacancies and the terms of office of the Board members shall be the same as for the Town Commission.
(b) Each Trustee shall be entitled to one vote on the Board. Three affirmative votes shall be necessary for a decision by the Trustees at any meeting of the Board. Trustees shall not cast proxy votes and may attend meetings in the same manner as Town Commissioners may attend meetings of the Town Commission and vote. The rules of procedure for the Board of Trustees shall be the same as for the Town Commission.
(c) The Board shall engage such accounting, legal, or other services, as shall be required to transact the business of the fund. The compensation of all persons engaged to transact services for the fund by the Board and all other necessary expenses of the Board necessary for the operation of the Board may be paid from the fund at such rates and in such amounts as the Board shall agree. Funds may be distributed by a disbursing agent as determined by the Board, but only upon the authorization of the Board.
(d) The duties and responsibilities of the Board shall include, but not necessarily be limited to the following:
(1) Construe the provisions of this article and determine all questions arising thereunder;
(2) Establish uniform rules and procedures to be followed for administrative purposes, benefit applications, and all matters required to administer the fund;
(3) Distribute to the general public at least annually all pertinent financial information concerning the fund;
(4) Receive and process all applications or proposals for use of the fund benefits;
(5) Accept, as determined to be appropriate in the sole discretion of the Board, all donations, gifts, or bequests to the fund;
(6) Authorize all payments whatsoever from the fund, and to notify the disbursing agent, in writing, of approved payments from the fund and other expenditures arising through operation of the fund;
(7) Make payment of funds to Brevard County for the primary benefit of the Melbourne Beach Public Library to purchase or provide additional books, services, or programs, either as directed by the Board or at the discretion of Brevard County, for the primary benefit of the Melbourne Beach Public Library, or to provide additional books, services, or programs, for the benefit of the Melbourne Beach Public Library;
(8) Assure that the expenditure of all funds is for the administration of the fund or the obtaining of additional books, services, and programs primarily at the Melbourne Beach Public Library, and assure that all expenditures are for an exclusively public purpose;
(9) Invest monies deposited into the fund as permitted pursuant to Chapter 218, Florida Statutes, as amended or superseded from time to time; and
(10) Perform such other duties and tasks as may be specified from time to time in this article.
(e) The Board may select the town's auditor for the purposes of preparing an audit of the fund, either separate from or as a part of the Town annual independent audit. The Town Attorney shall serve as attorney to the trust fund. The Town Clerk shall serve as the clerk of the fund. The Town Manager shall serve as the chief executive officer of the fund.
(Ord. 99-05, passed 9-15-99)