(A) The term of office of each member of the Board of Managers shall be four years.
(1) The members of the Board shall be appointed by the Mayor with the advice and consent of the City Council.
(2) The members of the Board shall hold office for a term of four years and until their successors are appointed. Initially, three members shall serve for a term of four years and two members shall serve for a term of two years and thereafter for a term of four years, so the term of office of all the members of the Board shall not expire at the same time. The Mayor, in appointing members of the Board, shall designate those whose initial term shall be four years and those whose initial term shall be two years.
(B) The Council shall have the power to remove from office any or all of the Board members or the Treasurer for nonperformance of duties or for misappropriation or wrongful use of the funds or property and to require a just and proper accounting for the same.
(Ord. O-86-11, passed 11-17-86)