(1) All monies due to a local authority shall be paid to the Treasurer and shall form a fund to be called the Urban, Village or Rural District Fund which shall be kept distinct in the Treasurer's books from all other accounts.
(2) All payments from the Fund as constituted in subsection (1) shall be made by the written order of the clerk of the district council, countersigned by the Chairman or in his or her absence by some other member duly authorised by the local authority.