(1) Appointing a chief executive officer, who shall not be a member of the board of commissioners, and shall set compensation and other terms of employment for the chief executive officer;
(2) Approving all budgets of the public entity;
(3) Adopting such rules, regulations, and bylaws as the board of commissioners may deem necessary and expedient for the proper ownership and operation of the consolidated waterworks system, and altering, changing, or amending the rules, regulations, and bylaws at its discretion; and
(4) Performing such other duties as shall be set forth in the interlocal agreement.
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