Organization Of Board — Accounts Of Treasurer — Compensation Of Members — Annual Audit — Removal Of Directors

TITLE 67 STATE GOVERNMENT AND STATE AFFAIRS CHAPTER 49 AUDITORIUM DISTRICTS 67-4909. Organization of board — Accounts of treasurer — Compensation of members — Annual audit — Removal of directors. After taking oath and filing bonds, the board shall choose one (1) of its members as chairman of the board and president of the district, and shall elect a secretary and a treasurer of the board and of the district, who may or may not be members of the board. The secretary and the treasurer may be one (1) person. Such board shall adopt a seal and the secretary shall keep, in a well-bound book, a record of all its proceedings, minutes of all meetings, certificates, contracts, bonds given by employees and all corporate acts which shall be open to inspection to all interested parties. The treasurer shall keep strict and accurate accounts of all money received by and disbursed for and on behalf of the district, in permanent records. He shall file with the clerk of the court, at the expense of the district, a corporate fidelity bond in an amount not less than five thousand dollars ($5,000), conditioned on the faithful performance of the duties of his office. Each member of the board shall receive as compensation for his service a sum not in excess of sixty dollars ($60.00) per annum. No member of the board shall receive any compensation as an employee of the district or otherwise, other than that herein provided and no member of the board shall be interested in any contract or transaction with the district except in his official representative capacity. It shall be the duty of the board of directors to cause an audit to be made of all financial affairs of the district during each year ending November 30th as required in section 67-450B , Idaho Code. The court having jurisdiction of the district shall have the power to remove directors for cause shown, on petition, notice and hearing.