Sec. 3. Election of trustees; terms of office; meetings. All affairs of the district are managed by a board of trustees composed of 5 members who must be residents of the district and elected as provided in this Act. The trustees holding office on the effective date of this Act shall continue to hold office until their terms expire. At each annual municipal election of the Town of Kennebunk, the voters of the district shall elect a trustee for the term of 5 years. If the Town of Kennebunk does not hold an annual election, the district shall arrange for an annual election to fill the trustee position that ends in that year and to fill any vacancy in the office of trustee. The trustees are nominated and elected under the same procedure as provided for the municipal officers of the town. If a vacancy arises in the membership of the board of trustees, the vacant office must be filled by the municipal officers until the next regular municipal election at which a trustee is elected to the unexpired term. All trustees are eligible for reelection, but municipal officers of the Town of Kennebunk are not eligible for nomination or election as trustees.

After each annual municipal election of the Town of Kennebunk, the trustees shall organize by electing a chair, vice-chair, treasurer and clerk. The trustees may adopt a corporate seal and, when necessary, may choose other needful officers and agents for the proper conduct and management of the affairs of the district and fix any compensation for such officers or agents, who serve at the pleasure of the board. The treasurer shall furnish bond or insurance in such a sum and with such sureties as the trustees approve, the cost of the bond or insurance to be paid by the district. The trustees serve with such compensation as they determine, subject to the approval of a majority of the municipal officers of the Town of Kennebunk.