The Authority shall be under the supervision and control of a Board consisting of the Village President and eight members appointed by the Village Council President subject to the approval of Village Council. At least five of the members shall be persons having an interest in property located in the downtown district. Of the members first appointed, two shall be appointed for one year, two for two years, two for three years, and two for four years. Thereafter, a member shall serve for a term of four years. An appointment to fill a vacancy shall be made by the Village Council President for the unexpired term only. Members of the Board shall serve without compensation, but shall be reimbursed for actual and necessary expenses. The Chairperson of the Board shall be elected by the Board.
(Ord. 35.01, passed 8-12-85)