(1) The trustees:
(a) shall prepare and adopt suitable bylaws;
(b) have the authority to provide adequate and standard firefighting and emergency response apparatus, equipment, personnel, housing, and facilities, including real property and emergency medical services and equipment, for the protection of the district;
(c) may appoint and form fire companies that have the same duties, exemptions, and privileges as other fire companies for retirement purposes only;
(d) shall prepare annual budgets and request special levies for the budgets. The budget laws relating to county budgets must, as far as applicable, apply to fire districts.
(e) may enter into contracts as provided in 7-33-2107; and
(f) may pledge income to secure financing of the district as provided in 7-33-2109.
(2) All money received by the trustees must be deposited in the county treasurer's office and credited to the fire district.