The board may employ an executive secretary and such other persons as it deems necessary to carry out the purposes stated in this part, and the salary of any such employees may be paid out of such funds as may be available to the authority from any source. The executive secretary shall be the custodian of funds belonging to the authority, and shall keep such records and accounts as may be required by the board. The executive secretary shall also execute a corporate surety bond as prescribed by the board.