(a) The board may elect to:
(1) appoint a tax assessor-collector to assess and collect district taxes; or
(2) contract for the assessment and collection of taxes as provided by the Tax Code.
(b) An election under this section must be made by December 1 and governs the manner in which taxes are assessed and collected, until changed by a similar resolution.
(c) The board shall set for the appointed tax assessor-collector:
(1) the term of employment; and
(2) compensation.