(a) Every city of the second class within the State of Arkansas is empowered to elect a city collector at the time of the election of other officers of these cities.

(b)

(1) The collector's duties shall be to collect all fines, licenses, taxes, and all other revenues due the municipality, except taxes now collected by the sheriff and collector of a county as provided by law.

(2) The collector shall also collect all taxes or benefits for any and all improvement districts or other agencies of government within the municipality.

(c) (1) (A) The city council shall fix the amount and require a good and sufficient surety bond of that collector to protect the municipality in the safe handling and accounting to the city for all municipal funds which shall come into his or her hands.

(B) The council shall require the bond to be filed with the city recorder and made a permanent record after the bond has been recorded in the office of the circuit clerk of the county in which the municipality is located, as may be otherwise required by law.

(2) For the safekeeping and the proper accounting of all funds collected by the collector for any and all improvement districts, that collector shall make and file a good and sufficient surety bond with each board of commissioners of any such district, as may be required by law.

(3)

(A) For any and all of the surety bonds required in this subsection of the collector, they may be made by any solvent surety company authorized to do business in the State of Arkansas.

(B) The premiums for these bonds shall be paid by the municipality or the improvement district as each is affected.

(d)

(1) The city council shall fix the salary to be paid to the collector for his or her services.

(2) If it is deemed to be in the best interests of the municipality or any improvement district affected, the council may provide that the collector may receive, in lieu of a fixed salary, fees as may be fixed by the council, or as otherwise provided by law.

(e)

(1) The council of any city in this state electing to exercise the rights conferred in this section may provide, by ordinance, for the applicability of this section.

(2) All boards of commissioners of any and all improvement districts in these cities shall comply with the intent and purpose of this section, and any commissioner failing to so comply may be removed from office by the council.