19-2763.   Same; organization of district by directors; officers, powers andduties; county treasurer's duties; district treasurer's duties.(a) As soon as practicable after they have qualified, the board ofdirectorsshall meet and select from their number a president, secretary andtreasurer. The board shall designate one of the members to act asvice-president in case the regular president is absent and adopt rules andbylaws to regulate the transaction of business which may be changed oramended at their pleasure. The board shall adopt a seal, with which allcontracts executed by the board shall be authenticated. The president shallpreside at all meetings of the board when present and shall executecontracts in the corporate name of the district. All contracts shall beattested by the secretary and authenticated by the common seal of thedistrict. All of the transactions and proceedings of the board shall beentered by the secretary in a journal to be kept by the secretary for thatpurpose. The journal shall be open to inspection by taxpayers of thedistrict at all times, and the same, or duly authenticated copies thereof,shall be admitted in all courts as evidence of such proceedings andtransactions.

      (b)   The treasurer of the district shall give a bond in such sum as shallbe fixed and with such sureties as shall be approved by the board of countycommissioners. Except as provided by subsection (c)the treasurer will pay over to the countytreasurer of the county wherein the district is situated all funds receivedas district treasurer. It shall be the duty of the treasurer to keep anaccurate account of all funds received and a detailed account of allexpenditures made by the district, and the record thereof shall at alltimes be open to public inspection. On the first day of January and July ofeach year, the treasurer shall prepare a full, complete and comprehensivestatement of the finances of the district, showing in full thereon theamount of money expended during the last preceding half-year, the amount ofrevenue received from all sources, the amount of cash then on hand, thenumber of bonds sold and the number of bonds remaining unsold. Thestatement of moneys expended shall be itemized, showing each warrant drawn,to whom drawn, and the date and amount thereof. A copy of the statementshall be published in the official county newspaper. Thetreasurer shall have the power to receive and receipt specialassessments which any owner of land may desire to pay after confirmation ofreport and before such assessments are certified to the county clerk, butthe treasurer shall deposit all funds so collected in the countytreasury to the credit of the district.

      The county treasurer of the county in which the district is situatedshall receive, safely keep and pay out as hereafter provided all fundsbelonging to the district and shall be liable upon the county treasurer'sofficial bond for such funds and for any default in the proper performanceof duty in that respect. The purchase price of all bonds sold for cashshall be paid directly to the county treasurer who shall retain the sameand all taxes, special assessments and other funds of the districtcollected or received thereby until paid out on written orders of the boardof directors. The county treasurer shall pay out of the funds receivedthereby belonging to any district all written orders signed by thepresident, countersigned by the treasurer, attested by the secretary andauthenticated by the seal of such district and shall cancel and retain allorders so paid. The county treasurer shall keep an itemized account of allorders paid thereby, showing the amount of each order, the person to whompaid and the date of the payment.

      (c)   Subject to the provisions of subsection (d), the treasurer of animprovement district shall have the powers and duties prescribed by thissubsection. The treasurer of the district, at the cost to the district, shallfurnish a surety bond in such sum as shall be fixed and with such sureties asshall be approved by the board of directors ofthe district, conditioned thatthe treasurer will pay, according to law, all funds received by the treasurerand will render a just and true account thereof whenever required by the boardof directors or by any provision of law. The treasurer shall deliver to anysuccessor in office or to any person authorized by law to receive the same, allfunds, books, papers and other things pertaining to or belonging to suchoffice. The bond required by this section shall be filed with the secretary ofthe board. The treasurer shall keep anaccurate account of all funds received and a detailed account of allexpenditures made by the district, and the record thereof shallbe open to public inspection. On the first day of January and July ofeach year, the treasurer shall prepare a full, complete and comprehensivestatement of the finances of the district, showing in full thereon theamount of money expended during the last preceding half-year, the amount ofrevenue received from all sources, the amount of cash then on hand, thenumber of bonds sold and the number of bonds remaining unsold. Thestatement of moneys expended shall be itemized, showing each warrant drawn,to whom drawn, the date and amount thereof. A copy of the statementshall be publishedin a newspaper of general circulation within the district.A copy of such statement also shall be filed with the county clerk of thecounty in which such district is located.The treasurer shall have the power to receive and receipt specialassessments which any owner of land may desire to pay after confirmation ofreport and before such assessments are certified to the county clerk. Thetreasurer shall deposit all funds so collectedin a fund created or designated for such purpose.

      The treasurer of the districtshall receive, safely keep and pay out as hereafter provided all fundsbelonging to the district and shall be liable upon the treasurer'sofficial bond for such funds and for any default in the proper performanceof duty in that respect. The purchase price of all bonds sold for cashshall be paid directly to the treasurer of the district who shall retain thesame and all taxes, special assessments and other funds of the districtcollected or received thereby until paid out on written orders of the boardof directors. The treasurer of the district shall pay out of the funds receivedthereby all written orders signed by thepresident, countersigned by the treasurer, attested by the secretary andauthenticated by the seal of such district and shall cancel and retain allorders so paid. The treasurer of the district shall keep an itemized accountof all orders paid thereby, showing the amount of each order, the person towhom paid and the date of the payment.

      (d)   The board of directors of any improvement district may adopt aresolutionrequesting that the treasurer of the district be authorized to exercise thepowers and duties prescribed by subsection (c). Such resolution shall bemailed to the board of county commissioners. Upon receipt of such resolution,the board of county commissioners may adopt a resolution authorizing thetreasurer of the district to exercise the powers and duties as requested by thedistrict. A copy of the resolution adopted by the board of countycommissioners shall be published at least once each week for two consecutiveweeks in a newspaper of general circulation with the district. If within 60days after the date of the last publication of such resolution, a petitionsigned by not less than 5% or 25 of the qualified electors, whichever is thegreater, in such improvement district is filed with the county electionofficer, such resolution shall not become effective until the questionhas been submitted to and approved by a majority of the qualifiedelectors of such improvement district voting at an election called and held forsuch purpose. Such election shall be called and held in the manner provided bythe general bond law. All costs incurred by the county pursuant to thissubsection shall be paid by the district.

      History:   L. 1945, ch. 180, § 11; L. 1974, ch. 122, § 13;L. 1986, ch. 105, § 1;L. 1994, ch. 69, § 1; July 1.