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28j-14
28J.14 SECRETARY TO FURNISH BOND -- DEPOSIT AND
DISBURSEMENT OF FUNDS.
Before receiving any revenues, the secretary of a port authority
shall furnish a bond in such amount as shall be determined by the
port authority with sureties satisfactory to the port authority, and
all funds coming into the hands of the secretary shall be deposited
by the secretary to the account of the port authority in one or more
such depositories as shall be qualified to receive deposits of county
funds, which deposits shall be secured in the same manner as county
funds are required to be secured. A disbursement shall not be made
from such funds except in accordance with policies and procedures
adopted by the port authority. Section History: Recent Form
2005 Acts, ch 150, §102
