The Port Authority created by this chapter shall be governed by a Board of Directors. The Board of Directors shall be established in accordance with the following provisions.
(A) Number, composition, and qualifications. The Board of Directors shall consist of five members, each of whom shall be a resident of the city prior to the date of the member’s appointment; and, at the time of appointment and service on the Board, shall not hold any elected or appointive office of the city.
(B) Appointment. Members of the Board of Directors of the Port Authority shall be appointed by the Mayor of the city with the advice and consent of the Common Council.
(C) Terms. The Directors of the Port Authority first appointed shall serve staggered terms so that two of the Directors first appointed shall serve for a term of four years, one Director for a term of three years, one Director for a term of two years and one Director for a term of one year. Thereafter, each succeeding Director shall serve for a term of four years. Vacancies among the members of the Board of Directors shall be filled by appointment of the Mayor with the advice and consent of the Common Council only for the unexpired term of the vacating Director.
(D) Officers. Within 45 days of their appointment, the Directors shall meet and elect one of their number as Chairperson, and another as Vice-Chairperson, and shall designate their terms of office. The Board shall also appoint a Secretary, who need not be a Director. The officers of the Board of Directors shall give bond for the faithful performance of their duties in an amount which shall be prescribed from time to time by the Board, the expense of same being paid out of the funds of the Port Authority. Directors shall be eligible for reappointment without limitation.
(E) Quorum. A majority of the Board of Directors shall constitute a quorum, the affirmative vote of which shall be necessary for any action taken by the Port Authority. No vacancy in the membership of the Board shall impair the rights of a quorum to exercise all of the rights and perform all of the duties of the Port Authority.
(F) Compensation. Directors of the Port Authority shall be entitled to receive as compensation a sum of money as the Board may, from time to time, determine. In addition, Directors shall be entitled to receive reimbursement for any and all reasonable out-of-pocket expenses incurred in the performance of the Directors’ duties.
(Prior Code, § 44.05) (Ord. 0-99-0027, passed 12-20-1999)