1. 1. Each annual budget of the land trust shall be itemized as to objects and purposes of expenditure, prepared not later than December fifteenth of each year, and shall include therein only such appropriations as shall be deemed necessary to meet the reasonable expenses of the land trust during the forthcoming fiscal year. Any unexpended funds from the preceding fiscal year shall be deducted from the amounts needed to meet the budget requirements of the forthcoming year.
2. 2. Copies of the budget shall be made available to the public on or before December fifteenth, and a public hearing shall be had thereon prior to December twentieth, in each year.
3. 3. The salaries and other expenses of such land trust and of its employees, incident to the administration of sections 141.210 to 141.810, including any expenditures authorized by section 141.760, shall be advanced and paid to the land trust upon its requisition therefor, fifty percent thereof by the county commission of such county, and the other fifty percent by all of the municipalities in such county as defined in section 141.220, in proportion to their assessed valuations at the time of their last completed assessment for state and county purposes. The land trust shall have power to requisition not to exceed twenty-five thousand dollars from such sources for each fiscal year of the land trust, but any amount in excess of twenty-five thousand dollars per year may be requisitioned by and paid to the land trust only if such additional sums are agreed to and approved by the county commission and the respective municipalities in such county so desiring to make such payment. All moneys so requisitioned shall be paid in a lump sum within thirty days after the commencement of each fiscal year of the land trust, and shall be deposited to the credit of the land trust in some bank or trust company, subject to withdrawal by warrant as herein provided.
4. 4. The fiscal year of the land trust shall commence on January first of each year. Said land trust shall audit all claims for the expenditure of money, and shall, acting by the chairman or vice chairman thereof, draw warrants therefor from time to time.
5. 5. No warrant for the payment of any claim shall be drawn by such land trust until such claim shall have been approved by the land commissioner and shall bear his certificate that there is a sufficient unencumbered balance in the proper appropriation and sufficient unexpended cash available for the payment thereof. For any certification contrary thereto, such land commissioner shall be liable personally and on his official bond for the amounts so certified, and shall thereupon be promptly removed from office by the land trustees.

(L. 1943 p. 1029 § 42, A.L. 1945 p. 1761, A.L. 1945 p. 1926)