(a)
(1) The commissioners of a municipal auditorium commission appointed under this chapter shall have the authority to utilize all revenues derived from the auditorium in the operations of the auditorium.
(2)
(A) All funds derived from the use of the auditorium shall be segregated into an auditorium fund, which shall be used exclusively in the operations of the auditorium by the commissioners.
(B) Moneys in the fund shall not be mingled with other funds of the city and shall be handled exclusively by the commissioners.
(b)
(1) The commissioners shall each furnish to the city a five thousand dollar ($5,000) surety bond that will serve to insure the city against any misappropriation or mishandling of funds.
(2) The surety on the bond shall be a reputable surety corporation.
(3) The premium on the bonds shall be paid for from moneys in the fund.
(c) The commissioners shall receive no salary for their services but shall be reimbursed from the fund for actual expenses incurred in the performance of their duties.
(d) The fund may also be expended by the commissioners, as they deem best, for the purpose of obtaining conventions or other attractions to meet in the auditorium.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
