There is hereby created and established a Park and Recreation Board which shall consist of five members as hereinafter provided. Members of the Park and Recreation Board shall not hold any other municipal office, appointment or employment, and shall be electors of the Municipality. Members of the Park and Recreation Board shall be appointed by a majority vote of the members elected to Council for a term of five years each; provided that the first persons appointed pursuant to this section shall be appointed as follows: one member shall be appointed for a one year term; one member shall be appointed for a two year term; one member shall be appointed for a three year term; one member shall be appointed for a four year term; and one member shall be appointed for a five year term, and thereafter each member shall be appointed for a five year term and shall continue in office until his successor is appointed.