(a) When the circuit court has established any improvement district, the court shall appoint five (5) owners of real property within the district to act as a board of commissioners for that district, which shall be its governing body.
(b)
(1) Each of these commissioners shall take the oath of office required by Arkansas Constitution, Article 19, § 20, and shall also swear that he or she will well and truly assess all benefits resulting from the improvement and all damages caused thereby.
(2) Any commissioner failing to take the oath within thirty (30) days after his or her appointment shall be deemed to have declined, and his or her place shall be filled by the court.
(c)
(1) All vacancies on the board shall be filled by the court.
(2) However, if the owners of a majority in assessed value of the real property in the district shall petition for the appointment of a particular person or persons as commissioner or commissioners, it shall be the duty of the court to appoint the person or persons so designated.
(d) The court shall remove any member of the board on the petition of owners of a majority in assessed value of the real property in the district.
(e) The commissioners provided for in this section shall receive as compensation the sum of no more than fifty dollars ($50.00) each day for attending meetings of the board, together with their necessary expenses.