(1) The affairs of the authority shall be under the direct supervision and control of a board consisting of not less than five nor more than eleven members appointed by the governing body. A majority of the members appointed shall reside or own property in the downtown development district.
(2) The board shall be constituted as follows:
At least one member shall be a member of the governing body, appointed to serve atthe pleasure of the governing body.
Two members shall be appointed for terms expiring June 30 of the year following thedate of the ordinance adopted by the governing body establishing the authority.
Two members shall be appointed for terms expiring June 30 of the second year following the date of the ordinance adopted by the governing body establishing the authority.
Two members, if the board consists of seven or more members, shall be appointedfor terms expiring June 30 of the third year following the date of the ordinance adopted by the governing body establishing the authority.
All other members shall be appointed for terms expiring June 30 of the fourth yearfollowing the date of the ordinance adopted by the governing body establishing the authority.
(3) A member shall hold office until his successor has been appointed and qualified. After the terms of the initial members of the board have expired, the terms of all members (except any member who is a member of the governing body) shall expire four years from the expiration date of the terms of their predecessors. Appointments to fill vacancies shall be for the unexpired term. In any municipality in which the charter provides that the appointive authority is the mayor, the mayor shall make appointments to the board.
Source: L. 76: Entire part added, p. 703, § 1, effective April 26.