(a) All powers, business, and affairs of any public body under this subchapter shall be exercised and managed under the direction of its board of commissioners, subject to any limitation under the public body's certificate of incorporation or interlocal agreement.
(b) The duties of the board of commissioners include without limitation:
(1) Appointing a chief executive officer, who shall not be a member of the board of commissioners, and setting compensation and other terms of employment for such officer;
(2) Approving all budgets of the public entity;
(3) Adopting rules and by-laws that the board of commissioners find necessary and expedient for the proper ownership and operation of the consolidated wastewater system, including adopting such rules and by-laws as the commissioners find necessary and expedient regarding the discharge by any person or entity of any wastewater into the consolidated wastewater system, and altering, changing, or amending the rules and by-laws at its discretion; and
(4) Performing other duties under the interlocal agreement.