(1) The board is the governing body of the authority and shall exercise all powers thereof.
(2) The board shall every two years appoint one of its members as chairperson to serve for a two-year term. A chairperson so appointed is eligible for reappointment as chairperson.
(3) The board shall appoint a professionally qualified person as manager of the authority. The manager shall serve at the pleasure of the board and receive such compensation as is fixed by the board.