At the time and place designated by the police jury in the ordinance creating the drainage district, or as soon thereafter as possible, the commissioners appointed in the ordinance shall meet and immediately organize by electing officers.  They shall elect from among their number a president and a vice-president.  The president shall preside over the meetings of the commissioners and perform the duties usually required of presidents of corporate bodies.  The vice-president shall perform the duties of the president in case of his absence or disability.  

The commissioners shall also elect a secretary-treasurer, who need not be a commissioner, who shall perform all duties required of him by the commissioners.  

The secretary-treasurer shall furnish bond in a sum fixed by the board of commissioners, which bond shall not be for less than one-fourth over and above any amount that may come into the possession of the secretary-treasurer, and which shall be increased or diminished accordingly.  The premium on the bond shall be paid by the district.  The secretary-treasurer shall receive compensation not in excess of two hundred fifty dollars, per month, which the board of commissioners may determine.

The board of commissioners shall adopt a suitable seal, and shall select without the necessity of advertising or receiving bids therefor one or more solvent chartered banks of the state, and other things being equal, a bank or banks situated within the drainage district, in which all funds of the drainage district derived from taxation shall be deposited.  The depository shall pay not less than three per centum interest on daily balances.  

Funds for the district shall be withdrawn or paid out only on warrants or checks of the board of commissioners signed in the manner provided by the board of commissioners.