(70 ILCS 1600/4) (from Ch. 32, par. 503e)
Sec. 4.
Annually the commissioners shall choose from among their members a
president and vice-president, to serve for a term of one year and until
their successors are chosen and qualified. The president shall preside at
the meetings of the commissioners but shall have the power to vote as any
other member and shall not have the power of veto. In the absence of the
president, the vice-president shall perform the president's functions. No
official action shall be taken except upon the affirmative vote of six
commissioners.
The commissioners shall appoint a secretary and a treasurer, either from
within or outside of their own membership, who shall be residents of the
city in which the property of the Authority is located and shall serve for
a term prescribed by the commissioners. Before entering upon the duties of
their respective offices the secretary and treasurer shall execute a bond,
with security to be approved by the commissioners of such Authority, in the
penal sum of $30,000 payable to such Authority conditioned for the faithful
performance of the duties of the office.
The commissioners shall prescribe the powers and duties and fix the
compensation of the secretary, treasurer and all other officers and
employees of the Authority.
(Source: Laws 1935, p. 613.)
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