All powers of the district shall be exercised by a board of directors, to be composed of the following:
(a) Each member of the Pearl River Industrial Commission whose county becomes a part of the Pearl River Valley Water Supply District shall be a member of the Board of Directors of the Pearl River Valley Water Supply District. Such directors shall serve on this board during their term of office on the Pearl River Industrial Commission. In addition, the board of supervisors of each county that becomes a part of the district shall appoint one (1) additional member, who shall serve for a term concurrent with the terms of the members of the board of supervisors. The members shall be appointed at the first meeting of the board of supervisors in January after the supervisors take office. The members appointed from Madison County and Rankin County shall be persons who reside on and are holders of residential leases from the Pearl River Valley Water Supply District that are located in Madison County and Rankin County, respectively, or who reside in established subdivisions in Madison County and Rankin County, respectively, in which some of the residential property of the subdivision is leased from the Pearl River Valley Water Supply District. The members appointed from Madison County and Rankin County who are serving on July 1, 2012, shall continue to serve until January 1, 2013, after which date the Board of Supervisors of Madison County and the Board of Supervisors of Rankin County each shall appoint one (1) member who meets the residency requirements of this section. The persons appointed under the provisions of this paragraph shall serve for the remainder of the unexpired term.