(a)
(1) Within thirty (30) days after their appointment, the commissioners shall take and file their oaths of office with the county clerk, in which they shall swear to support the United States Constitution and the Arkansas Constitution, to faithfully discharge their duties as commissioners, and that they will not be interested, directly or indirectly, in any contract let by the board of commissioners.
(2) Any commissioner failing to file the oath within the period shall be deemed to have declined the office, and the county court shall appoint some resident property holder as his or her successor who shall qualify in like manner within a like time.
(b) The board shall organize by electing one (1) of its members chair, and it shall select a secretary.
(c) The board may also employ such agents, servants, attorneys, and engineers as it deems best and fix their compensation.
(d) Each district shall be a body corporate with power to sue and be sued, and the board shall have a corporate seal.
(e) The board shall also select some solvent bank or trust company as the depository of its funds, exacting of the depository a bond in an amount equal to the amount of money likely to come into its hands.