The board shall fix the times for its regular meetings, and it shall hold at least one regular meeting each month. The board may also hold special, adjourned, or called meetings at any time. Members of the board serving before June 1, 2017, who are in attendance at special or called meetings shall receive twenty dollars ($20) for attendance. Members of the board appointed on and after June 1, 2017, shall receive additional compensation, in an amount mutually agreed upon by the board and the governing body, for attending special or called meetings of the board. Board members shall not be paid for more than two special or called meetings in any calendar month. A majority of the members of the board shall constitute a quorum for the transaction of business. All meetings of the board shall be held in accordance with all applicable open meeting requirements in a location provided by the city.