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154.50-336 Authority officers, employees -- Expenses of members.
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Members of the authority shall serve without compensation but shall be reimbursed
for any actual and necessary expenses incurred by them in the conduct of the affairs
of the authority. The authority shall, upon the appointment of its members, organize
and elect officers. The authority shall choose a chairman and vice chairman who
shall serve for terms of one (1) year. The authority may fix a salary for the
secretary-treasurer, and the secretary-treasurer shall execute an official bond to be
set and approved by the authority, and the cost thereof shall be paid by the authority.
The authority may employ necessary counsel, agents and employees to carry out its
work and functions and prescribe such rules and regulations as it deems necessary.
The secretary-treasurer shall keep the minutes of all meetings of the authority and
shall also keep a set of books showing the receipts and expenditures of the
authority. He shall preserve on file duplicate vouchers for all expenditures and shall
present to the authority, upon request, complete reports of all financial transactions
and the financial condition of the authority. Such books and vouchers shall at all
times be subject to examination by the legislative body or bodies by whom the
authority was created. He shall transmit at least once annually a detailed report of
all acts and doings of the authority to the legislative body or bodies by whom the
authority was created.
History: Created 1970 Ky. Acts ch. 114, sec. 9.
Formerly codified as KRS 152.890
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