(a)

(1) A majority of the elected membership of the board of directors shall constitute a quorum for the transaction of business.

(2) Except where otherwise provided by law, an affirmative vote of four (4) or more members shall represent the action of the board, and a like vote shall be required to suspend the rules.

(b) The board shall meet twice during each calendar month, and, until otherwise provided by ordinance, the meetings shall be held on the first and third Monday evenings of each calendar month unless that day is a legal holiday, in which case the meeting shall be held on the following evening.

(c)

(1) Special meetings may be called by a majority of the membership of the board.

(2) The board may establish by ordinance the procedure for calling and giving notice of special meetings.

(d) All regular and special meetings of the board shall be open to the public.

(e)

(1) Every motion, resolution, and ordinance adopted by the board, if approved by the mayor, shall be signed by the mayor and attested by the city clerk.

(2) Any ordinance, resolution, or motion for which the mayor has the power of veto and which is enacted or adopted over the veto of the mayor as authorized in this section shall be signed by the assistant mayor and attested by the city clerk.

(f) All laws in effect on February 2, 1967, regarding the proceedings of the city council of a city operating under the mayor-council form of government and not inconsistent with the provisions of this chapter, including those laws prescribing the procedure for the adoption, enactment, and publication of ordinances and resolutions, shall govern the proceedings of the board provided for in this section.

(g) (1) (A) All ordinances, resolutions, and motions adopted by the board at a regular or special meeting shall be delivered to the mayor within forty-eight (48) hours after the adoption thereof.

(B) The mayor shall have a period of three (3) days from the date of the receipt of any ordinance, resolution, or motion adopted by the board to approve or veto it. If he or she shall fail to approve or veto it within that period, it shall become law without his or her signature.

(2)

(A) Any ordinance, resolution, or motion enacted or adopted by the board which is vetoed by the mayor may be enacted over the veto of the mayor by an affirmative vote of five (5) or more members of the board.

(B) When any ordinance, resolution, or motion of the board is vetoed by the mayor, it shall automatically be on the agenda for consideration of the board at the next regular meeting of the board and may be considered at a special meeting called in the manner authorized herein.

(h)

(1) Each member of the board shall receive compensation for each regular meeting of the board which he or she attends but shall receive no compensation for attending a special meeting of the board.

(2) The compensation for each meeting shall be set by the board but shall not exceed one twenty-fourth of twenty percent (1/24 of 20%) of the compensation permitted municipal officers per annum by the Arkansas Constitution.

(i) The board may hold agenda meetings at such times, under such circumstances, and on such conditions as the board may prescribe for the purpose of informing itself of the business and affairs of the city. However, no official action of the board shall be taken at such meetings.

(j) The board shall adopt rules of order to govern the deliberations and meetings of the board.

(k) Any director who fails to attend five (5) consecutive regular meetings of the board or who fails to attend fifty percent (50%) of the regular meetings of the board held during a calendar year while he or she is a qualified member of the board shall be deemed to have resigned. A vacancy shall then exist in that position to be filled as provided in § 14-48-115.