(A)   The Board of County Commissioners does hereby appoint five (5) taxpaying electors of the District to serve as the first Board of Trustees of the District, to serve at the pleasure of the Board of County Commissioners.
   (B)   Successors of the original members of the Board of Trustees shall be elected and appointed pursuant to the terms and provisions of N.R.S. Chapter 318, the same to ratified and included herein as though fully set forth.
   (C)   The members of the Board of Trustees shall qualify by filing with the County Clerk their oaths of office and corporate surety bonds, cost of the same to be borne by the District, in an amount of one thousand dollars ($1,000.00). The Board of County Commissioners may from time to time upon good causes shown increase or decrease the amount of such bond.
   (D)   The Board of Trustees shall meet regularly at least once a year at the office or principal place of the District, and at such other time or times at the same place as provided by District by-laws.