KRS 154.50-336: Authority officers, employees -- Expenses of members.

(1) Members of the authority shall serve without compensation but shall be reimbursed

for any actual and necessary expenses incurred by them in the conduct of the affairs

of the authority. The authority shall, upon the appointment of its members, organize

and elect officers. The authority shall choose a chairman and vice chairman who

shall serve for terms of one (1) year. The authority may fix a salary for the

secretary-treasurer, and the secretary -treasurer shall execute an official bond to be

set and approved by the authority, and the cost thereof shall be paid by the authority.

(2) The authority may employ necessary counsel, agents and employees to carry out its

work and functions and prescribe such rules and regulations as it deems necessary.

(3) The secretary-treasurer shall keep the minutes of all meetings of the authority and

shall also keep a set of books showing the receipts and expenditures of the

authority. He shall preserve on file duplicate vouchers for all expenditures and shall

present to the autho rity, upon request, complete reports of all financial transactions

and the financial condition of the authority. Such books and vouchers shall at all

times be subject to examination by the legislative body or bodies by whom the

authority was created. He sh all transmit at least once annually a detailed report of

all acts and doings of the authority to the legislative body or bodies by whom the

authority was created.