18-3509.

Trustees; administrator; appointment; powers and duties.

(1) Within thirty days after the city council or village board of trustees has declared a community improvement district to be a public corporation, the trustees appointed upon formation shall meet and elect one of their number chairperson and one of their number clerk of the community improvement district.

(2) Except as otherwise provided, the board of trustees shall:

(a) Keep a record of all of its proceedings which shall be open to inspection by all owners of real estate in the community improvement district;

(b) Have the power to pass all necessary resolutions, orders, rules, and regulations for the necessary conduct of its business and to carry into effect the objects for which the community improvement district was formed; and

(c) Have the authority to appoint, employ, and pay accountants, attorneys, engineers, municipal advisors, underwriters, and such other professional or clerical help as may be needed, who shall each be removable at the pleasure of the board or administrator.

(3) Upon the appointment of an administrator for the community improvement district pursuant to sections 18-3542 to 18-3551, the authority of the trustees to exercise the powers granted in this section shall be suspended, except that the board shall continue in existence and the administrator shall periodically, but not less frequently than monthly, report to the board in writing on all decisions and actions taken by the administrator in managing the affairs of the community improvement district. The administrator shall, during the period of his or her appointment, possess exclusive authority to exercise the powers and duties conferred in the Community Improvement District Act.