No claims shall be paid by the treasurer of the Authority until the same shall have been presented and allowed by the board of directors. All warrants shall be signed by the chairman of the board of directors of the Authority and countersigned by the clerk. If the treasurer of the Authority has not sufficient money on hand to pay the warrants when presented, he shall endorse thereon “not paid for want of funds” and endorse thereon the date presented, over his signature, and from the time of the presentation until paid such warrant shall draw interest at the rate not to exceed ten percent (10%) per annum. All claims against the Authority shall be verified the same as is required in the case of claims filed against the counties in this state and the clerk of the Authority is hereby authorized and empowered to administer oaths to the parties verifying such claims the same as a county clerk or notary public might do. The treasurer of the Authority shall keep a register in which he shall enter each warrant presented for payment, showing the date and amount of the warrant, to whom payable, the date of the presentation for payment, the date of payment, and the amount paid in redemption thereof, and all warrants shall be paid in the order of their presentation for payment to the treasurer of the Authority. All warrants shall be drawn and payable to the claimant or his assignee only.