The members of the library board shall organize by electing officers and adopting bylaws and regulations. The board has the authority to direct all the affairs of the library, including the authority to appoint a library administrator. The library administrator shall direct the internal affairs of the library, including hiring and directing such assistants or employees as may be necessary. The board may make and enforce rules and regulations and establish branches of service at its discretion. The board may expend funds for the special training and formal education of library personnel; provided, that such personnel shall agree to work in the library for at least two (2) years after completion of such training and education. The board may receive donations, devises, and bequests to be used by it directly for library purposes. The board may hold and convey realty and personal property and negotiate leases for and on behalf of such library. The board shall furnish to the state library agency such statistics and information as may be required, and shall make annual reports to the county legislative body or city governing body.