(a) The board may appoint a qualified person as district administrator.
(b) The district administrator serves at the will of the board and receives the compensation determined by the board.
(c) Before assuming the duties of district administrator, the administrator must execute a bond payable to the district in an amount of not less than $10,000 that:
(1) is conditioned on the administrator performing well and faithfully the administrator's required duties; and
(2) contains any other condition the board requires.