(1) The authority of an area shall proceed to organize for the performance of the duties for which it is created, and such organization shall include, but shall not be limited to, the following unless otherwise provided by the ordinance creating the authority:
The adoption of bylaws which shall provide that a majority of the members of theauthority constitutes a quorum for the transaction of business;
The election from the members of the authority of a president and vice-president andthe appointment of a secretary and, if desirable, an assistant secretary. Neither of the latter need be members of the authority.
The adoption of a seal for the authority.
(2) The city treasurer of the municipality shall be the treasurer of the authority. If the municipality has a city auditor, he shall be the auditor of the authority. Otherwise, the authority may appoint an auditor. The city attorney shall be the attorney for the authority. If the additional work cast upon the city treasurer, city auditor, or city attorney by reason of the affairs of the authority shall be so heavy as to require the employment of additional persons by any of said city officials, the expense of the employment of such additional persons shall be borne by the authority.
Source: L. 45: p. 622, § 8. CSA: C. 82, § 69. CRS 53: § 69-4-8. C.R.S. 1963: § 69-4-8.