A. The secretary-treasurer of the authority shall establish appropriate accounting classifications and designations in the authority accounting records to provide for accurate and systematic control and allotment of all monies received.

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B. The secretary-treasurer shall maintain a bond fund and a general fund of the authority and shall apportion all monies received into the fund corresponding with the purpose for which the monies were received. The secretary-treasurer may invest inactive monies from either the general fund or the bond fund and shall credit income earned on the investments to the respective fund.