(a) Each member of the Madison County Board of Education shall hereafter receive from public school funds of the county, an expense allowance of three hundred dollars ($300) per month, which shall be in lieu of any expense allowances heretofore provided by law for such board members.
(b) In the discretion of such board of education, each member thereof may also receive reimbursement for any actual expenses incurred when traveling outside the county on business of the board.