(A) The regular term of office for each trustee shall be the same as his or her term on the Retirement Board. Each trustee shall, before assuming the duties of trustee and within 10 days of the election or appointment, qualify by taking an oath of office to be administered by the City Clerk. The initial trustees shall be the same trustees then serving on the Retirement System Board and shall serve under their existing terms of office.
(B) Any successor trustee appointed under the terms of the trust shall, upon appointment, and without further act, deed or conveyance, succeed to all the rights, duties, titles, and powers, of every type and description of his or her predecessor.
(C) Each trustee shall serve until the expiration of his or her term of office or until his or her death, incapacity, resignation or removal from either their position as trustee of the plan or such other office upon which their position as trustee is based.
(D) A vacancy or vacancies in the office of the trustees shall not impair the powers of the remaining trustees to administer the affairs of the trust, provided there are sufficient trustees to constitute a quorum as herein provided.
(Ord. 08-03, passed 9-4-2008)