(a) The board shall appoint a qualified person as district administrator.
(b) The board may appoint an assistant administrator.
(c) The district administrator and any assistant administrator are entitled to the compensation determined by the board.
(d) The board may execute an employment contract with the district administrator or assistant administrator for a term of not more than three years. The employment contract may be renewed or extended annually.
(e) On assuming the duties of district administrator, the administrator shall execute a bond payable to the district in an amount set by the board of not less than $25,000 that:
(1) is conditioned on the administrator performing the administrator's duties; and
(2) contains other conditions the board may require.