The directors shall hold office, two for one year, two for two years and one for three
years from the first day of February following their appointment, and annually thereafter,
the mayor shall, on or before the first day of February of each year, appoint directors
to take the place of the retiring directors, who shall hold for a term of three years
and until their successors are appointed. The mayor, by and with the consent of the
governing body, shall remove any director for misconduct or neglect of duty. Vacancies
in the board of directors occasioned by removal, resignation or otherwise shall be
filed in like manner as original appointments for unexpired terms.
(Prior code § 12-306)
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