The industrial development authority shall be composed of six (6) members, one of which shall be the mayor. The other five (5) members shall be appointed by the mayor for terms of four (4) years; provided, that in making the initial appointments, the mayor shall appoint two (2) members for terms of four (4) years, one (1) member for a term of three (3) years, one (1) member for a term of two (2) years, and one (1) member for a term of one (1) year. The members of the industrial authority shall reside within the corporate limits of the city, or within three (3) miles thereof.
(Ord. No. 18.86, § 2, 11-25-86)