§ 4. Officers.

Immediately after the effective date of this Act, the members of the Authority shall meet and qualify by taking the oath of office regularly prescribed for state and county officials in Florida. They shall maintain a place within Duval County for the principal office of the Authority, where the members shall meet at least once each month for the transaction of business. The members shall annually elect from among their number a Chairman, one or more Vice Chairmen and a Secretary and a Treasurer, except that the offices of Secretary and Treasurer may be combined. Each member of the Authority shall give a bond by a reputable bonding company authorized to do business in the State of Florida, in an amount to be designated by a majority vote of the members, conditioned upon the faithful performance of his duties, which bond shall be kept by the Board of County Commissioners of Duval County. The premiums on said bonds shall be paid as part of the expense of the Authority.