(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) The tenure of the district administrator's contract may not exceed two years.
(d) 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 $10,000 that:
(1) is conditioned on the administrator performing the administrator's duties; and
(2) contains other conditions the board may require.