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A. A board composed of five (5) members, a majority of whom shall be residents of the City, shall constitute a Board of Trustees to administer the Police Pension Fund 1 and to designate the beneficiaries thereof. The Board shall be known as the "Board of Trustees of the Police Pension Fund" of the City.
B. Two (2) members of the Board shall be appointed by the Mayor, the third and fourth members of the Board shall be elected from the regular police force by the active members thereof, and the fifth member shall be elected by and from among the beneficiaries of the Police Pension Fund.
C. The members of a Board holding office at the time this Section becomes effective shall continue in office until the expiration of their respective terms and until their respective successors are appointed or elected and qualified, as the case may be. After the effective date hereof, one of the Board members appointed by the Mayor shall serve for one year beginning on the second Tuesday in May after the City comes within the provisions hereof. The other appointed member shall serve for two (2) years beginning on the same date. The successors to any of the appointed members of such Boards shall serve for two (2) years each or until their successors are appointed and qualified.
D. The election provided for in this Section for elected Board members shall be held biennially on the third Monday in April, at such place or places in the City and under the Australian ballot system and such other regulations as shall be prescribed by the appointed members of the Board. All members of the regular police force shall be entitled to vote only for the police force members of the Board. All beneficiaries of legal age shall be entitled to vote only for the member chosen from among the beneficiaries, and no person shall be entitled to cast more than one ballot at such election. The members shall be elected for a term of two (2) years, beginning on the second Tuesday of the first May after such election.
E. Upon the death, resignation or inability to act of any member of the Board elected under this Section, his successor shall be elected for the unexpired term at a special election, to be called by the Board and conducted in the same manner as the regular biennial election. (1970 Code §3-2.2, as amended)
1. See Section 4-1-14 of this Code.