‘Sec. 3. Board of trustees. All the affairs of the district must be managed by a board of trustees composed of 3 members who are residents of the district, to be chosen by a majority of the municipal officers of the Town of Rumford. Notwithstanding the Maine Revised Statutes, Title 35-A, section 6410, subsection 5, the trustees shall when necessary elect a president, clerk, treasurer and all other officers and agents for the proper conduct and management of the affairs of the district. Trustees may adopt a corporate seal. The trustees shall serve staggered 3-year terms, such that one trustee term ends each year. Notwithstanding Title 35-A, section 6410, subsection 4, the term of each trustee ends on the first Monday in August immediately following the end of the term for which that trustee was appointed; except that a trustee shall serve until a successor is appointed. Whenever the term of office of a trustee expires, the municipal officers of the Town of Rumford shall appoint a successor to serve the full term of 3 years, and in case any other vacancy arises it must be filled in like manner for the unexpired term. The trustees may also adopt and establish such bylaws as are necessary for their own convenience and the proper management of the affairs of the district. The trustees may procure an office and incur such expenses as may be necessary. Each trustee is entitled to compensation, as recommended by the trustees and approved by a majority of municipal officers of the Town of Rumford, in accordance with Title 35-A, section 6410, subsection 7. At the close of each fiscal year, the trustees shall make a detailed report of their doings, of the receipts and expenditures of the water district, of the water district's financial and physical condition and of such other matters and things pertaining to the district as demonstrate how the trustees are fulfilling the duties and obligations of their trust, such reports to be made and filed with the municipal officers of the Town of Rumford.’