*238.222.  Powers of board, generally — officers, meetings, expenses — quorum — notification of organization — submission to state auditor and department of revenue. — 1.  The board shall possess and exercise all of the district's legislative and executive powers.

  2.  Within thirty days after the election of the initial directors or the selection of the initial directors pursuant to subsection 3 of section 238.220, the board shall meet.  The time and place of the first meeting of the board shall be designated by the court that heard the petition upon the court's own initiative or upon the petition of any interested person.  At its first meeting and after each election of new board members or the selection of the initial directors pursuant to subsection 3 of section 238.220, the board shall elect a chairman from its members.

  3.  The board shall appoint an executive director, district secretary, treasurer and such other officers or employees as it deems necessary.

  4.  At the first meeting, the board, by resolution, shall define the first and subsequent fiscal years of the district, shall adopt a corporate seal, and shall notify the state auditor as required in subsection 7 of this section.

  5.  A simple majority of the board shall constitute a quorum.  If a quorum exists, a majority of those voting shall have the authority to act in the name of the board, and approve any board resolution.

  6.  Each director shall devote such time to the duties of the office as the faithful discharge thereof may require and may be reimbursed for his actual expenditures in the performance of his duties on behalf of the district.

  7.  Any district which has been previously organized and for which formation was approved prior to August 28, 2016, shall notify the state auditor's office in writing of the date it was organized and provide contact information for the current board of directors by December 31, 2016.  Any district organized and formed after August 28, 2016, shall be required to notify the state auditor's office in writing of the date it was organized and provide contact information for the current board of directors within thirty days of the date of the first meeting of the board under the provisions of subsection 2 of this section.

  8.  (1)  The governing body of the local transportation authority establishing a district or the governing body of such district shall, as soon as is practicable, submit the following information to the state auditor and the department of revenue:

  (a)  A description of the boundaries of such district as well as the average assessment made against real property located in such district, the rate of property tax levied in such district, or rate of sales tax levied in such district, as applicable;

  (b)  Any amendments made to the boundaries of a district or the tax rates levied in such district; and

  (c)  The date on which the district is to expire unless sooner terminated.

  (2)  The governing body of a district established on or after August 28, 2022, shall not collect any property or sales taxes until the information required by paragraph (a) of subdivision (1) of this subsection has been submitted.