(a) The board of commissioners shall be resident property holders in the district and shall be citizens of integrity and good business ability.
(b)
(1) The commissioners shall be appointed to serve for terms of one (1), two (2), three (3), four (4), and five (5) years respectively, and the length of the term of each commissioner shall be stated in the order of the county court making the appointment.
(2) As the terms of the commissioners expire, the county court shall appoint successors to hold office for a term of five (5) years. The county court may reappoint a commissioner whose term is expiring.
(c) In case of a vacancy on the board of commissioners after the commissioners have organized, the county court shall appoint some resident property holder as his successor who shall qualify in like manner and within a like time.
(d) The commissioners shall serve without compensation and until their successors are appointed and qualified.