(1) The board, on behalf and in the name of the district, has the following powers:
(a) To fix the time and place at which its regular meetings shall be held within the district and to provide for the calling and holding of special meetings;
(b) To adopt and amend or otherwise modify bylaws and rules of procedure;
(c) To select one director as chairman of the board and of the district and another director as chairman pro tem of the board and of the district, and to choose a secretary and a treasurer of the board and of the district, each of which two positions may be filled by a person who is, or is not, a director, and both of which positions may be filled by one person;
(d) To prescribe by resolution a system of business administration, and to create all necessary offices, and to establish and reestablish the powers, duties, and compensation of all officers, agents, and employees and other persons contracting with the district subject to the provisions of section 32-11-212; but, except as may be otherwise therein provided, such compensation shall be established at prevailing rates of pay for equivalent services.
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