Whenever the bonds authorized by section 30:9-21 of this title shall have been directed to be issued by the municipal board having charge of the finances in any such city, the mayor of such city may appoint a board of trustees of such city hospital, which board shall consist of five persons residents of such city, at least two of which shall be physicians in good standing. The mayor of such city shall be ex officio a member of such board of trustees. The trustees first appointed shall serve for the term of one, two, three, four and five years respectively, and upon the expiration of their respective terms of office the mayor of such city shall appoint their successors for the full term of five years. Each of such trustees shall give bond in the sum of ten thousand dollars for the faithful performance of their duties.

The board of trustees appointed as aforesaid shall be vested with and shall perform all the powers and duties in relation to the management and control of city hospitals in such city as were or are vested in or performed by the municipal board or body having charge and control of any such hospital in such city at the time of the appointment of such board of trustees as aforesaid, and such board of trustees so appointed shall have general charge and control of all city hospitals in any such city from the time of their appointment, and of the new city hospital authorized by section 30:9-21 of this title, when erected, and such board of trustees shall have power to appoint and hire clerks, servants and other necessary employees and fix their salaries, and to make proper rules and regulations for the government of such city hospitals, and generally to do all things necessary for the maintenance of such city hospitals in such city.