(a) The Treasurer of the Authority shall be appointed by the Board. The Treasurer, with the approval of the Board, may appoint an assistant treasurer, who shall not be a director of the Board. Neither the Treasurer nor the assistant treasurer may be a director.
(b) The Treasurer shall have the custody of the funds of the Authority and shall be the disbursing officer of the Authority. When authorized by the Board of Directors, the Treasurer shall sign, make, or endorse in the name of the Authority all checks and orders for the payment of monies and pay out and disburse the same.