A. The corporate authorities, at the first regular meeting thereof occurring after the effective date hereof on which the matter is on the agenda, shall elect two (2) members of the board of trustees as finance trustees for the purpose of signing the warrants and checks, one of whom shall serve until the first regular meeting of the corporate authorities in March 2015 and the other of whom, whose term of office as trustee shall not expire until the election of April 2017, shall serve until the first regular meeting in March 2016. Thereafter, at the first regular meeting in March of each year, the corporate authorities shall elect one member thereof whose term of office as a trustee shall not expire until on or after the election of April of the year following the year of such election as finance trustee, to serve until the first regular meeting in March next following the year of such election as finance trustee.
B. For the purposes of this section, the term "regular meeting" shall include a special meeting which is called on the date of a regularly scheduled meeting of the corporate authorities. (Ord. O-14-21, 11-18-2014)