Section 371.470 - Selection of board of directors' president and secretary; record of proceedings; meetings(1) Within the first 10 days of July in each year next following their election, excepting the year immediately after the election upon organization, the board of directors shall meet and choose one of their number president of the board and elect some suitable person as secretary. The secretary, who may or may not be a member of the board of directors, shall hold office during the pleasure of the board.(2) The board of directors shall keep a record of all its proceedings, which shall be open to the inspection of all owners of property within the district.(3) The secretary shall be paid such amount as the board of directors shall fix.(4) The board of directors shall hold a regular monthly meeting at a time fixed by it and entered in its records and such special meetings as may be required for the proper transaction of business. Written notice of each special meeting shall be given to each member of the board at least 24 hours prior to the time of meeting, stating the particular business to come before such meeting. No business shall be transacted at special meetings other than as specified in the notice, unless by agreement of all the directors entered in the minutes. Amended by 1955 c.227 §4; 1971 c.403 §5