(A) There shall be three members of the Economic Development Commission who shall be appointed by the President of the Town Council. One of the members shall be selected by the President of the Town Council, one shall be nominated by the fiscal body of the county in which the town is located, and one shall be nominated by the town fiscal body.
(B) (1) The Economic Development Commissioners shall take office upon their appointment, and their terms run from February 1 after their original appointment, for a period of:
(a) Three years, if selected by the President of the Town Council;
(b) Two years, if nominated by the town fiscal body; and
(c) One year, if nominated by the county fiscal body.
(2) An appointee shall continue in office until a successor is appointed and qualified even if his or her term has expired.
(1996 Code, § 15.03)
(C) At its first regular meeting in each year the Commission shall elect a President and Secretary and such other offices as such Commission may deem necessary.
(1996 Code, § 15.05)