(1) The salary of each member of the board shall be fixed by the board, and shall not exceed two thousand four hundred dollars ($2,400) per annum.
(2) Such salaries, as well as the salary of the secretary-treasurer of such board, shall constitute a cost of operation and maintenance of the plant.
(3) The municipality shall not be liable for the payment of any salary or compensation of any of the members of said board, or for the payment of the salary or compensation or expenses of any person employed by said board, and all such salaries, compensation and expenses and any and all liabilities, of whatever kind or character incurred by the board or any officer or employee thereof, shall be payable solely and only out of the revenues obtained by said board under the provisions of KRS 96.171 to 96.188, and said liabilities shall be so limited.