The officers of the authority shall consist of a chairman, vice chairman, secretary, treasurer, and such other officers as its board shall deem necessary or appropriate. The offices of secretary and treasurer may, but need not, be held by the same person. The chairman and vice chairman of the authority shall be elected by the board from the membership thereof: The secretary, the treasurer, and any other officers of the authority may, but need not, be members of the board and shall also be elected by the board. The chairman, vice chairman, secretary, and treasurer of the authority shall also be the chairman, vice chairman, secretary, and treasurer of the board, respectively. Prior to receipt by the authority of any tax revenues from the city, any county, state or federal governments, the treasurer of the authority shall provide evidence to the governmental entity from which the funds are to be received of procurement of a fidelity bond in an amount equal to or greater than the amount of tax funds to be received and that the company issuing the bond is qualified to issue fidelity bonds in the State of Alabama.
Structure Code of Alabama
Chapter 8A - Calhoun County Municipalities.
Part 1 - Downtown Development Authority.
Section 45-8A-20 - Legislative Intent.
Section 45-8A-20.01 - Definitions.
Section 45-8A-20.02 - Use of Phrases.
Section 45-8A-20.05 - Amendments to Certificate of Incorporation.
Section 45-8A-20.06 - Board of Directors.
Section 45-8A-20.07 - Officers of the Authority.
Section 45-8A-20.08 - Powers of Authority.
Section 45-8A-20.09 - Bonds of Authority.
Section 45-8A-20.10 - Proceeds From the Sale of Bonds.
Section 45-8A-20.11 - Refunding Bonds.
Section 45-8A-20.12 - Notice of Bond Resolution.
Section 45-8A-20.13 - Exemption From Taxation.
Section 45-8A-20.14 - Liability of City.
Section 45-8A-20.15 - Exemption From Usury and Interest Laws.
Section 45-8A-20.16 - Exemption From Competitive Bid Laws.
Section 45-8A-20.17 - Freedom of Authority From State Supervision and Control.
Section 45-8A-20.18 - Earnings of the Authority.
Section 45-8A-20.19 - Dissolution of the Corporation and Vesting of Title to Property in the City.
Section 45-8A-20.20 - Existence of the Authority to Prevent Incorporation of Another by the City.