(A) Generally.
(1) The Authority shall be under the supervision and control of a Board consisting of the Village President and 8 members.
(2) Members shall be appointed by the Village President, subject to the approval of the Village Council.
(3) Not less than a majority of the members shall be persons having an interest in property located in the District.
(B) Terms.
(1) Each member of the Board shall serve for a term of 4 years except that of the members first appointed, an equal number of the members, as near as practicable, shall be appointed for 1 year, 2 years, 3 years, and 4 years, respectively.
(2) A member shall hold office until the member's successor is appointed.
(C) Vacancies. An appointment to fill a vacancy on the Board shall be made by the Village President for the unexpired portion of the term.
(D) Compensation. Members shall serve without compensation, but may be reimbursed for actual and necessary expenses incurred in the performance of their duties.
(E) Chairperson. The Board shall elect a Chairperson.
(F) Oath of office. Before assuming the duties of office, each member shall qualify by taking and subscribing to the constitutional oath of office.
(G) Rules of procedure.
(1) The Board shall adopt rules governing its procedure and the holding of regular and special meetings, subject to the approval by the Village Council.
(2) Meetings of the Board shall be open to the public in accordance with the Michigan Open Meetings Act, being M.C.L.A. §§ 15.261 to 15.275.
(H) Public records. The financial records of the Authority shall be open to the public in accordance with the Michigan Freedom of Information Act, being M.C.L.A. §§ 15.231 to 15.246.
(I) Director.
(1) The Board, in its discretion, may employ and fix the compensation of a Director, subject to the approval of the Village Council.
(2) The Director shall serve at the pleasure of the Board.
(3) The Director shall furnish bond in an amount prescribed by the Board.
(4) A member of the Board is not eligible to hold the position of Director.
(J) Treasurer.
(1) One of the Board Members may be elected Treasurer of the Authority, or the Board may employ and fix the compensation of a Treasurer.
(2) The Treasurer shall keep the financial records of the Authority and perform other duties delegated by the Board.
(3) The Treasurer shall furnish bond in an amount prescribed by the Board.
(K) Secretary.
(1) One of the Board Members may be elected Secretary of the Authority or the Board may employ and fix the compensation of a Secretary.
(2) The Secretary shall maintain custody of the records, books, documents, and other papers not required to be maintained by the Treasurer.
(3) The Secretary shall attend meetings of the Board, keep a record of its proceedings and perform other duties delegated by the Board.
(L) Legal counsel.
(1) The Board may retain legal counsel to advise the Board in the proper performance of its duties.
(2) The legal counsel may represent the Authority in actions brought by or against the Authority.
(Ord. 02-10-03, passed 2-10-2003)