The business and affairs of the district shall be conducted and administered by a
governing board of five (5) fire commissioners, who shall be qualified electors residing
in the district. Said fire commissioners, upon their appointment or election and qualification
as provided in Section 4 and annually in January, shall organize by electing from
their number a chairman, a vice-chairman, and a secretary-treasurer or, alternatively,
a secretary and a treasurer. The commissioners shall not receive any compensation
for their services as such but shall receive compensation for out-of-pocket expenses
incurred for the conduct of the business and affairs of the district. Each commissioner
shall, before he enters upon his duties as such commissioner, execute to the governor
for the benefit of the district, a good and sufficient bond in the sum of one thousand
dollars ($1,000.00) with a qualified corporate surety conditioned to faithfully perform
the duties of such commissioner and to account for all funds to come into his hands
as such commissioner. All premiums for such surety on all such bonds shall be paid
from the funds of the district.
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