(a) The board may appoint a person qualified by training and experience as district administrator.
(b) The district administrator serves at the will of the board and receives compensation as may be determined by the board.
(c) The board may require the district administrator, before assuming the administrator's duties, to execute a bond payable to the district in an amount set by the board of not less than $5,000 that:
(1) is conditioned on the faithful performance of the administrator's duties; and
(2) contains other conditions the board may require.