The council may establish a city library and to this end it may accept in the name of the city of Purcell donations and contributions in any form from any person, firm, corporation or governmental agency. The council is hereby empowered and authorized to use such funds as may be available for the erection, construction, equipment and maintenance of a building to be known and used as the public library for the city of Purcell. The control and supervision of such library shall be vested in a library board. The library board shall consist of five (5) persons appointed by the council. Persons appointed to the library board shall be residents of the city of Purcell. Each member shall be appointed for a period of four (4) years unless amended as hereafter specifically set forth and those board members presently on the board shall serve out their existing terms. The commencement and termination of those terms, as well as the length of said terms shall be determined solely be the council and may be amended or changed by resolution. The library board shall select annually from its membership a chairman, vice-chairman and secretary and shall provide for and regulate its own meetings. The members shall serve without compensation.