duties of his office upon election. If either the Chair or the Vice Chair ceases to be a member, the resulting vacancy shall be filled at the next regular meeting of the Board of Directors held after such vacancy occurs. The Chair shall preside at and conduct all meetings of the Board of Directors. A. The Board of Directors shall select a Secretary who may, but need not, be a member of the Board of Directors. The Secretary shall serve at the pleasure of the Board of Directors and shall perform those duties and functions customary to the office of S ecretary of a public entity. B. The Chair shall sign all contracts on behalf of the Authority and perform such other duties as may be imposed by the Board of Directors; and C. The Vice Chair shall act, sign contracts, and perform all of the Chair's duties in the absence of the Chair. SECTION 5,02. Treasurer. The Director of Finance of the City of Eureka is hereby designated as the Treasurer of the Authority and as the depository to have custody of all the money of the Authority from whatever source. The Director of Finance of the City of Eureka is hereby designated as the Auditor Controller of the Authority. The Director of Finance of the City of Eureka shall have the duties and obligations set forth in Sections 6505 and 6505.5 of the Act and shall assure that there shall be strict accountability of all funds and report of all receipts and disbursements of the Authority. The City of Eureka shall determine the reasonable charges to be made against the Authority for the services of the Director of Finance of the City of Eureka, such charges not to exceed the actual cost to the City for such services. SECTION 5.03- Bonding Persons Having Access to Property. From time to time, the parties hereto shall designate the public officers or persons, in addition to the Director of Finance of the City of Eureka, having charge of handling or having access to any property of the Authority, and shall further designate the respective amounts of the official bonds of the Director of Finance of the City of Eureka and such other persons pursuant to Section 6505.1 of the Act. SECTION 5.04. Legal Advisor. The Board of Directors may select, appoint, employ and retain the legal advisor of the Authority, who shall perform such duties as may be prescribed by the Board of Directors. SECTION 5.05. Other Employees. The Board of Directors shall have the power to appoint and employ such other officers, employees, and may contract with consultants and other professional persons or firms as it considers necessary for the purposes hereof. SECTION 5.06. Compensation. The Board of Directors shall determine the compensation of, and pay from Authority funds (including payment from funds which the Authority may receive to time in the form of federal and state grants) the salaries, wages, fees and other compensation of such planning, Revised August 2004 Page 5 of 18