§ 4-7-123. Funds; contracts; audits.

(a)

A bank or banks, or other depository to be designated by the board, shall receive and be custodian of all funds of said district. Such depository or depositories shall give satisfactory security for the adequate protection of all moneys to be deposited with it.

(b)

The funds of the district shall be paid out only upon warrant signed by the treasurer and countersigned by the chairman or in the absence of the chairman by the vice chairman of the board and have affixed thereto the corporate seal of the district. No warrant shall be drawn or issued against funds of said district except for a purpose authorized by this act [this article], and no such warrant shall be drawn or used unless the account or expenditure for which the same is given in payment has been approved by the board.

(c)

At least once each year the district shall publish in some newspaper published in each of said counties in said district a complete statement of all moneys received and disbursed by them [sic] during the preceding year. Such statement shall also show the several sources from which said funds were received and shall show the balance on hand at the time of the published statement. Also, it shall show a complete financial statement of the condition of the district.

(d)

The district is authorized to enter into agreements with the department of transportation, the board of county commissioners of any county in the district, or both, or any other person, corporation or agency, federal, state or local, public or private in connection with financing, alteration, and construction of any bridge structure or bridge approach or roadway or other structure and said parties are hereby specifically authorized to enter into such agreements with each other respecting responsibility for acquisition of right-of-way, for construction and maintenance of any bridge structure and approach required to be provided or modified because of the construction of the intracoastal waterway.

(e)

The accounts of the district shall be audited annually by the state auditor, who shall be paid his usual fee by the district for such audit and report. If the state auditor is unable to perform an annual audit, the district may contract with a private auditor for such services.

(Laws of Fla., Ch. 61-1590, § 20; Laws of Fla., Ch. 81-337, § 1)