Section 14-48-131 - Improvement districts(a)(1) The board of directors elected under the provisions of this chapter shall constitute the respective boards of improvement for any and all improvement districts existing or created in any city operating under the provisions of this chapter and shall discharge and perform all duties required of any board of any improvement district under the provisions of the laws of this state dealing with improvement districts. However, the directors shall receive no compensation as members of such boards.(2) It shall not be necessary for the board of directors who shall constitute such a board to be owners of real property or, where the district does not embrace the whole of the city, to reside in the improvement district.(b)(1)(A) The board of directors, where districts have been created and are in existence when they qualify and enter upon the discharge of their duties as such a board of the city, in addition to the oath required as a board of directors of the city, shall each, as a member of the board of improvement, take the oath of office required by Arkansas Constitution, Article 19, § 20. Each member shall also affirm that he or she will not, directly or indirectly, have an interest in any contract made by the board of which he or she is a member.(B)(i) This oath shall be made for each separate district.(ii) The oath shall be filed in the office of the city clerk.(2) When an improvement district is formed after the board of directors has qualified, each director, immediately upon the formation of the improvement district, shall take and file the oath required by this section as a member of that board of improvement.(c)(1) When the directors have taken the oath provided for by this section, the terms of office of all members of improvement boards in the city shall cease and determine. They shall cause to be delivered to the board of directors, as their successors, all records, papers, and contracts, as well as everything belonging to the improvement districts in their possession and under their control.(2) These items shall be kept separate from the records, papers, contracts, and property of the city.(d)(1)(A) The board of directors, in lieu of serving as the board of commissioners for any improvement district, may appoint three (3) electors of the city to act as commissioners.(B)(i) Each of these commissioners shall take the oath of office required by Arkansas Constitution, Article 19, § 20, and shall also swear that, directly or indirectly, he or she shall not have an interest in any contract made by the board and that he or she will well and truly assess all benefits resulting from the improvement and all damages caused thereby.(ii) Any commissioner failing to take the oath within thirty (30) days after his or her appointment shall be deemed to have declined, and his or her place shall be filled by the board of directors.(C) The commissioners shall select one (1) of their number as chair, and a majority shall constitute a quorum.(2) The board of directors may remove any member of the board of commissioners.(3) The board of directors may provide for the compensation of commissioners at a rate not to exceed ten dollars ($10.00) for each day spent attending meetings of the board of commissioners. However, a board of commissioners shall not be compensated for more than two (2) meetings in any calendar month.(e)(1) The records, proceedings, moneys, and revenues of each improvement district shall be kept separate and distinct from each other and separate and distinct from the records, proceedings, moneys, and revenues of the city.(2) The city clerk shall be ex officio secretary and collector, and the city treasurer or finance officer shall be ex officio treasurer of each and every improvement district, subject, however, to the right of the board, if it shall be deemed best, to designate and appoint some person other than the city clerk as secretary or collector and some person other than the city treasurer or finance officer as treasurer.(f)(1) The board for each and every improvement district shall prepare quarterly a detailed and itemized statement of all receipts and expenditures of each district with proper vouchers for all payments and cause it to be filed with the clerk of the circuit court.(2)(A) Within six (6) months, any taxpayer may file exceptions to the report in the circuit court.(B)(i) The circuit court shall proceed, after ten (10) days' notice given to the chair of the board of improvement for the district, to examine the exceptions to the report and account and disallow any and all unjust, illegal, and improper charges and credits.(ii) From any final judgment or order of the circuit court in respect thereto, the aggrieved parties shall have the right of appeal to the Supreme Court, as in other cases.Acts 1967, No. 36, § 15; A.S.A. 1947, § 19-815.