(1) The board shall organize by electing one of its members as presiding officer. Four members of the board constitute a quorum for the transaction of business by the board.
(2) The board may incur costs, charges, and expenses reasonably necessary to carry out this chapter.
(3) Each member may be paid $50 for each day in which the member is actually and necessarily engaged in the performance of board duties and must be reimbursed for travel expenses, as provided for in 2-18-501 through 2-18-503, incurred in the member's official service.