The Bi-State Authority hereby created shall organize by electing a Chairperson, Secretary, Treasurer and any other officers as it sees fit, these officers to serve for one year terms, and shall adopt reasonable rules and bylaws for the government and control of the Bi-State Authority. The Treasurer of the Bi-State Authority shall be required to give bond in the amount of $50,000, the premium of which shall be paid from the funds of the Bi-State Authority. A quorum shall consist of a majority of the members of the Bi-State Authority.
('71 Code, § 43.07) (Ord. 1214, passed 4-9-64)