Custodian of funds - Reports - Compensation. The board of county commissioners shall, after the organization of the sewer improvement district, appoint a board of directors for such improvement district to be composed of three (3) members, one of whom shall be designated director, one as clerk and one as member, who shall hold office for a term of two (2) years from date of appointment and until their respective successors shall be appointed and qualified. No person shall be eligible for appointment to the board of directors who is not a land owner within the district so formed. Vacancies on said board shall be filled in the same manner as an original appointment. The board of county commissioners shall have jurisdiction and authority to remove any member from the board of directors for malfeasance in office or conduct flagrantly inimical to the best interest of the district, and removal by a member of the board from the district or inability of such member to serve shall constitute a vacancy on said board. Such board is authorized and empowered to manage and conduct the affairs of the sewer improvement district, make and execute all necessary contracts, employ such agent and employees as may be necessary, adopt and establish rules and regulations for sewer service both within and without the district, and generally, to perform all acts necessary to fully carry out the purposes of this act, including the right and power to contract with municipalities owning and operating an established sewer system, or with other sewer improvement districts for the proper handling of sewage. The clerk of the board shall be the custodian of the funds of the district, and shall give such bond as may be required by the board. The board of directors shall make a report to the board of county commissioners on January 1 and July 1 of each year, and the members thereof shall receive such compensation as shall be fixed by the board of county commissioners.
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