Article 57.--FORT SCOTT/BOURBON COUNTY RIVERFRONT AUTHORITY
12-5712.Secretary and treasurer; requirements;
monetary transactions.
(a) The board shall appoint a secretary and a treasurer, who
need not be members of the board, to hold office during the pleasure of
the board, and fix their duties and compensation. Before entering upon
the duties of their respective offices they shall take and subscribe the
constitutional oath of office, and the treasurer shall execute a bond with
corporate sureties to be approved by the board. The bond shall be payable
to the authority in whatever penal sum may be directed by the board
conditioned upon the faithful performance of the duties of the office and
the payment of all money received by the treasurer according to law and
the orders of the board. The board at any time may require a new bond
from the treasurer in such penal sum as may then be determined by the
board. The obligation of the sureties shall not extend to any loss sustained
by the insolvency, failure or closing of any national or state bank wherein
the treasurer has deposited funds if the bank has been approved by the
board as a depositary for these funds. The oaths of office and the treasurer's
bond shall be filed in the principal office of the authority.
(b) All funds deposited by the treasurer in any bank shall be placed
in the name of the authority and shall be withdrawn or paid out only by
check or draft upon the bank, signed by the treasurer and countersigned
by the chairperson of the board, except that the board may designate any
of its members or any officer or employee of the authority to affix the
facsimile signature of the chairperson and another to affix the facsimile
signature of the treasurer to any check or draft.
(c) In case any officer whose signature appears upon any check, draft,
bond, certificate or interest coupon, issued pursuant to this act, ceases to
hold such officer's office before the delivery thereof to the payee or the
purchaser of any bond or certificate, the officer's signature nevertheless
shall be valid and sufficient for all purposes with the same effect as if the
officer had remained in office until delivery thereof.
Article 57.--FORT SCOTT/BOURBON COUNTY RIVERFRONT AUTHORITY
12-5712.Secretary and treasurer; requirements;
monetary transactions.
(a) The board shall appoint a secretary and a treasurer, who
need not be members of the board, to hold office during the pleasure of
the board, and fix their duties and compensation. Before entering upon
the duties of their respective offices they shall take and subscribe the
constitutional oath of office, and the treasurer shall execute a bond with
corporate sureties to be approved by the board. The bond shall be payable
to the authority in whatever penal sum may be directed by the board
conditioned upon the faithful performance of the duties of the office and
the payment of all money received by the treasurer according to law and
the orders of the board. The board at any time may require a new bond
from the treasurer in such penal sum as may then be determined by the
board. The obligation of the sureties shall not extend to any loss sustained
by the insolvency, failure or closing of any national or state bank wherein
the treasurer has deposited funds if the bank has been approved by the
board as a depositary for these funds. The oaths of office and the treasurer's
bond shall be filed in the principal office of the authority.
(b) All funds deposited by the treasurer in any bank shall be placed
in the name of the authority and shall be withdrawn or paid out only by
check or draft upon the bank, signed by the treasurer and countersigned
by the chairperson of the board, except that the board may designate any
of its members or any officer or employee of the authority to affix the
facsimile signature of the chairperson and another to affix the facsimile
signature of the treasurer to any check or draft.
(c) In case any officer whose signature appears upon any check, draft,
bond, certificate or interest coupon, issued pursuant to this act, ceases to
hold such officer's office before the delivery thereof to the payee or the
purchaser of any bond or certificate, the officer's signature nevertheless
shall be valid and sufficient for all purposes with the same effect as if the
officer had remained in office until delivery thereof.
Article 57.--FORT SCOTT/BOURBON COUNTY RIVERFRONT AUTHORITY
12-5712.Secretary and treasurer; requirements;
monetary transactions.
(a) The board shall appoint a secretary and a treasurer, who
need not be members of the board, to hold office during the pleasure of
the board, and fix their duties and compensation. Before entering upon
the duties of their respective offices they shall take and subscribe the
constitutional oath of office, and the treasurer shall execute a bond with
corporate sureties to be approved by the board. The bond shall be payable
to the authority in whatever penal sum may be directed by the board
conditioned upon the faithful performance of the duties of the office and
the payment of all money received by the treasurer according to law and
the orders of the board. The board at any time may require a new bond
from the treasurer in such penal sum as may then be determined by the
board. The obligation of the sureties shall not extend to any loss sustained
by the insolvency, failure or closing of any national or state bank wherein
the treasurer has deposited funds if the bank has been approved by the
board as a depositary for these funds. The oaths of office and the treasurer's
bond shall be filed in the principal office of the authority.
(b) All funds deposited by the treasurer in any bank shall be placed
in the name of the authority and shall be withdrawn or paid out only by
check or draft upon the bank, signed by the treasurer and countersigned
by the chairperson of the board, except that the board may designate any
of its members or any officer or employee of the authority to affix the
facsimile signature of the chairperson and another to affix the facsimile
signature of the treasurer to any check or draft.
(c) In case any officer whose signature appears upon any check, draft,
bond, certificate or interest coupon, issued pursuant to this act, ceases to
hold such officer's office before the delivery thereof to the payee or the
purchaser of any bond or certificate, the officer's signature nevertheless
shall be valid and sufficient for all purposes with the same effect as if the
officer had remained in office until delivery thereof.