All hospital boards, including boards of trustees of joint county-city hospital authorities, so appointed are authorized, subject to such special regulations as may be from time to time imposed by the county commissioners and/or city council appointing said board, or, in the case of joint county-city hospital authorities, as may be provided in the agreement creating such authority:
1.  To take entire charge of and run, manage and operate the hospital for which they were appointed.
2.  To promulgate such rules and regulations for the management and operation of such hospital and the conduct of its business and the business of the board as they may deem expedient, not inconsistent with law or the special regulations imposed by the county commissioners and/or city council appointing the board, or, in the case of a county-city hospital authority, with the agreement creating such authority.
3.  To employ such persons as they may deem necessary for or in the operation of said hospital and/or the conduct of the business of the board, to fix their compensation and to discharge them at pleasure.
4.  To collect and receive all funds accruing from the operation of said hospital and all those appropriated or provided for the management, operation and/or conduct thereof by the city and/or county, and all such funds shall be paid over to the hospital board and held and disbursed by it as herein provided.
5.  To exercise such other powers as the appointing authority may delegate to the board.
Said hospital board shall allow and pay all expenses for the management, maintenance and operation of said hospital and the expenses of said board from such funds or any other funds in said board’s control, without allowance by either the board of county commissioners or the city council, but no funds in the custody of said hospital board or its treasurer shall be paid out except on order of such hospital board, and said board shall not, without special authorization of the board of county commissioners, create any debt or debts chargeable against the county, nor without special authorization of the city council create any debt or debts chargeable against the city, exceeding in the aggregate the total of the cash in the custody of the hospital board and the appropriations previously made by the city and/or county, available for the payment thereof.