(A) Two members of the Board shall be appointed by the President of the Board of Trustees of the village. All successors of such appointed members shall serve for two-year terms or until their successors are appointed and qualified.
(B) The third and fourth members of the Board shall be elected from the regular police force by the active members thereof. Elections shall be held biennially on the third Monday in April starting in 1978. All elections shall be in the manner prescribed by statute. If there is a vacancy of any member under this section by reason of the death, resignation or inability to act of any member, that member's successor shall be elected for the unexpired term at a special election to be called by the Board and conducted as above.
(C) The fifth member shall be elected by and from among the beneficiaries of the fund, as and when a class of beneficiaries is created. Such election shall also be held biennially on the third Monday in April for two-year terms.
(Ord. 451-76, passed 4-20-76)