Is it possible to make a dynamic block for use in a solidworks drawing?  I'm using the term "dynamic block" like an AutoCAD user would; meaning a block that has internal capability for various features to be stretched, moved, rotated, mirrored, hidden, etc.  (If you are unfamiliar with AutoCAD dynamic blocks here is a video that will give you an idea of the sort of functionality that I'm talking about: https://www.youtube.com/watch?v=CJi7FzuMoiA).

What I'm building specifically is a north arrow symbol that will be used on pipe layout drawings and the like.  The way it needs to look is shown below.

The dynamic functions that the block needs to have are:

1. Hide or show the true north arrow and its text.  (Yes, this can be done by having two different blocks but it's easier file management and drawing manipulation to have just one).
2. Rotate the true north arrow and its text. (The text will maintain its orientation to the arrow).
3. Rotate the north arrow and the N by 90° increments (the N maintains its orientation with the arrow).