(2) The account established under this section shall be used for the payment of any claims arising out of labor and emergency expenses incurred by the district during any month. Moneys may be withdrawn from the account by:
(a) Check or draft signed by at least two individuals authorized to do so by the board of directors; or
(b) Electronic funds transfers authorized by the board and initiated by at least two individuals authorized by the board.
(3) The expenditures made shall be ratified and audited by the board at each regular meeting.
(4) As used in this section, "electronic funds transfer" has the meaning given that term in ORS 293.525. [Formerly 545.563; 1997 c.631 §488; 2005 c.492 §2]