1. (a)

   1. (1) The City Council of Winfield in Marion County may create a theater board to oversee the maintenance and operation of the Pastime Theater.
   2. (2) The board shall be composed of seven members appointed by the city council. The members of the board shall elect a chair. In the event of any vacancy on the board, the city council shall appoint a person to fill the vacancy.
   3. (3) The members of the board shall serve for three-year terms with the first terms being staggered by the council.

   4. (4) The board shall have all of the following duties:

      1. a. Handle the day-to-day operation of the theater.
      2. b. Enter into contracts on behalf of the theater and schedule events on behalf of the theater.

      3. c.

         1. 1. No later than September 1 of each year, prepare a detailed budget on an annual basis for review and approval by the city council.
         2. 2. Any expenditures in excess of the budget shall be presented to the city council for review and approval prior to the expenditure being made.
      4. d. Seek prior approval from the city council for any capital improvements, expenditures, or purchases in excess of seven thousand five hundred dollars ($7,500).
      5. e. Seek prior consent and approval by the city council of any and all grant requests and applications.
   5. (5) The city council shall place in its budget for the city a line-item for funding the theater, as funds are available, as well as amounts to cover the cost of insurance and facility utilities.
2. (b) Any expenditures made by the board or the city council on behalf of the Pastime Theater prior to September 1, 2011, are ratified and confirmed.

(Acts 2011-322, p. 596, §§ 1, 2.)