(a) Each education service cooperative shall be governed by a board of directors consisting of one (1) representative appointed by each school district board of directors within the boundary of the education service cooperative.

(b) No school district may have official representation on more than one (1) education service cooperative board of directors.

(c) The board of directors of each established education service cooperative shall:

(1) Function as a public corporate body;

(2) Meet except as otherwise provided in § 6-13-1007, at least eight (8) times each year; and

(3) Exercise general fiduciary responsibilities for the education service cooperative with regard to policies and practices which guard the integrity of the agency and maintain public trust in its operation.

(d) Such responsibilities, consistent with funds available, shall include, but not be limited to:

(1) Employment of a director of the education service cooperative who shall serve as the nonvoting executive officer of the board of directors;

(2) Establishment of policies and procedures for the operation and management of the education service cooperative, which shall be in written form and shall be filed with the State Board of Education;

(3) Preparation of an annual budget estimating income and expenditures for programs and services in accordance with procedures established by the state board;

(4) Receipt and expenditure of funds needed to provide programs and services in the area;

(5) Making such surveys or other inquiries which may be required to determine the service needs of school districts in the education service cooperative and developing plans to provide such needed services;

(6) Employment, upon the recommendation of the director of the education service cooperative, of such personnel as may be required to provide the services requested by the school districts in the area;

(7) Implementation of policies established by the state board for the operation of education service cooperatives;

(8) Cooperation with other education service cooperatives, school districts, and other agencies to provide programs and services for children and adults residing within their respective areas;

(9) For facilities and buildings as may be required to provide authorized programs and services:

(A) Renting, leasing, purchasing, constructing, or receiving by gift;

(B) Borrowing from the revolving loan fund under § 6-20-818; or

(C) Borrowing from other sources for limited or unusual circumstances upon approval of the Commissioner of Education and Director of the Department of Finance and Administration; and

(10) Carrying out such other duties as may be required for the efficient operation of the education service cooperative for which the board of directors is responsible.