(a) Immediately upon the appointment of the board of directors, the directors shall meet and organize and shall elect a president, vice president, and secretary-treasurer from their membership and shall adopt bylaws which shall govern their proceedings.
(b)
(1) Regular meetings of the board of directors shall be held quarterly in the office of the district on a day to be selected by the board.
(2) Notice of the meetings shall be mailed to each director at least five (5) days prior to the date thereof. Special meetings may be held at any time, upon waiver of notice of the meetings by all directors, or may be called by the president or by any two (2) directors at any time, provided that notice in writing, signed by the persons calling any special meeting, shall be mailed to each director at least five (5) days prior to the time fixed for the special meeting.
(c) A majority of the directors shall constitute a quorum for the transaction of business, and, in the absence of any of the elected officers of the district, a quorum at any meeting may select a director to act as the officer pro tempore.
(d) Each meeting of the board, whether regular or special, shall be open to the public, and the board shall at no time go into executive session. All regular board meetings shall be advertised by at least one (1) insertion in a newspaper serving the district. The insertion shall be at least two (2) days prior to the meeting.
(e) The directors provided for in this chapter may receive as compensation the sum of twenty dollars ($20.00) each day for attending meetings of the board, provided that not more than forty dollars ($40.00) shall be paid to any director for meetings held in any one (1) calendar month, together with the director's reasonable and necessary expenses.
(f) The board shall have the right, power, and authority to employ such attorneys, agents, and personnel as it may deem necessary, and to fix their respective compensation.