Promptly upon the appointment of the commission and annually thereafter, the commission shall organize by the election of one of its members as president and one of its members as vice-president, and shall select a treasurer and a secretary who may or may not be members of the commission, and who may be the same person. Such treasurer and secretary shall perform the usual duties of such officers and such other duties as may from time to time be prescribed by the commission, and shall receive such compensation as may be fixed by the commission, payable, however, solely from the funds received by the commission.

Vacancies in the membership of the commission shall be filled by appointment for the unexpired term by the governing authorities of the municipality or of the county, as the case may be.

No commissioner shall be pecuniarily interested, directly or indirectly, in any contract for work to be done by or for the commission, or in the purchase or sale of any properties by or for the commission, and any such contract, purchase or sale in which any commissioner shall be so interested, directly or indirectly, shall be null and void as to such commissioner, his successors or assigns.

The commission shall have power to establish the time of its regular meetings and to provide for the call of special meetings by the president or by any two members of the commission. Any special meeting at which all commissioners are present shall be conclusively deemed to have been properly called, and action taken at such meeting shall be valid and binding. All meetings of the municipal commission shall be open to the public and shall be held at the city hall in the municipality or other meeting place of the governing authority of the municipality. All meetings of the county commission shall be open to the public and shall be held at the courthouse in the county or other meeting place of the governing authority of the county.