The Authority shall be under the supervision and control of a Board consisting of the chief executive officer of the municipality and eight members as determined by the governing body of the municipality. Members shall be appointed by the governing body of the municipality. Not less than a majority of members of the Board shall be persons having an interest in property located in the downtown district. Of the members first appointed, an equal number of the members as near as is practicable, shall be appointed for one year, two years, three years and four years. A member shall hold office until the member’s successor is appointed. Thereafter, each member shall serve a term of four years. An appointment to fill a vacancy shall be made by the governing body of the municipality for the unexpired term only. The Chairperson of the Board shall be elected by the Board.
(1991 Code, § 1.214) (Ord. 147, passed 3-16-1992)