(a)

(1) Immediately after their initial appointment, the board of trustees of the regional library system shall meet and elect the officers as they deem necessary.

(2) A quorum of this board shall be a majority of the total number of members.

(3) The board shall:

(A) Adopt such bylaws, rules and regulations, and policies for their own guidance, including personnel policies, and for the governing of the system as they deem reasonable and necessary;

(B) Meet at least one (1) time in each calendar quarter;

(C) Have the custody and supervision of all property of the system, including the rooms or buildings constructed, leased, or set apart for the system;

(D) Employ a system director, who shall serve at the will of the board, which shall prescribe his or her duties and fix his or her compensation;

(E) Have exclusive control of the finances of the system;

(F) Cause an annual audit to be performed in accordance with Arkansas law for audits of local government entities;

(G) Be responsible for any fine or fee money for special library services and accept any grants, gifts of money, or property for use of the system and use it for purposes as the board deems reasonable and necessary;

(H) May purchase and dispose of equipment as provided in Arkansas law for county government purchase and disposition of county government property;

(I) Develop and enforce policies and penalties for persons injuring library property and materials or failing to return any book, periodical, or property belonging to the system. The board may refuse the use of the library to those offenders; and

(J) Do all other acts necessary for the orderly and efficient management and control of the system.

(b) No expenditure made or contracted by the board shall be binding on any participating municipalities or counties so as to require any payment in excess of funds made available for library purposes under this subchapter.

(c)

(1) There shall be one (1) regional library director for each system.

(2) The director shall have a master's degree from an accredited American Library Association program.

(3) The director shall administer and establish procedures in accordance with policies established by the board.

(4) The director's duties shall include:

(A) Employment and supervision of system staff;

(B) Financial and statistical management of the system, including initial preparation of the annual budget;

(C) Reporting to the board on system operations and services; and

(D) Other acts necessary for the orderly and efficient administration of the system.

(d)

(1) If not provided for by the system or by one (1) of the participating jurisdictions of the system, all eligible employees of a system shall be entitled to comparable fringe benefit and retirement benefit coverage as are other county employees in the headquarters county.

(2) Costs for these benefits shall be apportioned among the participating municipalities and counties of the system.

(e)

(1) On a monthly basis each county and municipality supporting a system shall transmit appropriated amounts of tax revenues and other appropriated funds to the system pursuant to the interlocal agreement, the regional library ordinance, or the contract.

(2) All regional funds shall be deposited in one (1) or more public depositories previously selected by the board.

(3)

(A) All funds shall be placed in the depository or depositories selected by the board in the same manner as provided by law for the selection of county depositories.

(B) The depository shall place on deposit with the director the same securities as are required by law for county deposits.

(4) The board shall, by appropriate order recorded in its minutes, authorize the director to expend system funds for lawful purposes only and in accordance with its budget.

(f)

(1) The board shall have the power to purchase or lease grounds or to purchase, lease, erect, and occupy appropriate buildings for the use of all public libraries in the system. When a building erected or purchased by the board is not adapted to its purpose or needs, the board may remodel or reconstruct the building.

(2) The board may also sell or otherwise dispose of any real or personal property that it deems no longer necessary or useful for library purposes.