8 CAR § 230-106 – Contracts, loans, checks, and deposits

(a) Contracts. The Pulaski County Regional Solid Waste Management District Board of Directors may authorize any officer or officers, agent or agents, to enter into any contract or execute and deliver any instrument in the name of and on behalf of the Pulaski County Regional Solid Waste Management District, and such authority may be general or confined to a specific instance.
(b) Loans.
1. (1) No loans shall be contracted on behalf of the district and no evidence of indebtedness shall be issued in its name unless authorized by a resolution of the board.
2. (2) Such authority may be general or confined to specific instances.
(c) Checks, drafts, etc. All checks, drafts, or other orders for the payment of money, notes, or other evidence of indebtedness issued in the name of the district, shall be signed by such officer or officers, agent or agents, of the district and in such manner as shall from time to time be determined by resolution of the board.
(d) Deposits. All funds of the district not otherwise employed shall be deposited from time to time to the credit of the district in such banks, trust companies, or other depositories as the board may select.
(e) Appropriation criteria. The board shall determine the annual funding appropriations required to be levied or assessed in accordance with Acts 1991, No. 752, and other applicable laws by considering all available revenue sources and formulas, including, but not limited to:
1. (1) The availability of federal grant and other funds;
2. (2) Revenues generated from dedicated sources;
3. (3) Service allocation formulas; and
4. (4) Other factors, data, and information as the board deems necessary.
(f) Annual audit. The board shall cause to be conducted, by qualified accounting firms, annual audits of:
1. (1) The district’s financial management systems; and
2. (2) All financial transactions.