members of the board of trustees shall have any authority to act on behalf of the board except in pursuance of an order regularly made at a meeting of the board. No action of the board shall be binding unless authorized by a majority of the trustees at a regular meeting or a duly called special meeting. Meetings of the board of trustees shall be held at the office of the waterworks and shall be open to the public. A record of the meetings shall be kept by the secretary in a book provided for that purpose, which book, together with all contracts, maps, plans, and documents relating to the management and operation of the waterworks, shall be open to public inspection at reasonable hours. No member of said board shall be interested, directly or indirectly, in any contract relating to the waterworks or in any contract providing for the expenditure of any moneys in relation thereto. Any such trustee shall be considered as vacating his office in the event of his violating this section or accepting the nomination or becoming a candidate for any other public office. In the event of a vacancy by death, resignation, or otherwise, the board shall fill said vacancy by electing some qualified person to fill the vacancy until the next election at which time the vacancy shall be filled for the balance of the unexpired term. Trustees under this part 1 shall receive five hundred dollars per year for their services, and each of said trustees shall enter into a bond of two thousand dollars to the people of the district for the faithful performance of their duties and the proper accounting of all moneys that may come into their hands as trustees.
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