The Fire District is authorized by this charter to form a fire company which shall be the firefighting agent for the District. Subject to the approval by the District, the Prudential Committee, the Fire Chief, and assistants may develop bylaws to govern the administration, size, and composition of the fire company and such other activities as are generally conferred on fire districts. Upon approval by the voters at an annual or special meeting, duly warned, the bylaws shall remain in effect until superseded in like manner.