§ 5. Creation of the Board, Composition, and Provisions Relating to Members.

There is hereby created a Board composed of five (5) members and to be known officially as the "Downtown Development Board." It is hereby constituted a body corporate and an agency of the City; and performance by the Board of its duties and exercise of its powers are hereby designated municipal functions and shall be so construed.

(1)

The Mayor shall appoint the members of the Board, with the concurrence of the City Council; and by majority vote of its entire membership the City Council may remove a member of the Board for cause.

(2)

Of the initial members one (1) shall be appointed for a term expiring July 1, 1973, two (2) for terms expiring July 1, 1974, and two (2) for terms expiring July 1, 1975; and thereafter each succeeding member shall be appointed by the Mayor, with the concurrence of the City Council, for a term of three (3) years.

(3)

To qualify for appointment to the Board and to remain qualified for service on it, a prospective member or a member already appointed shall have his principal residence, employment, place of business or be an owner of realty in the development area therein, and shall not be serving as a City officer or employee. A majority shall be owners of realty within the development area, or a lessee thereof, or a director, officer, or managing agent of an owner or of a lessee thereof so required to pay taxes thereon, but no two (2) shall be affiliates of the same corporation, partnership, or other business entity.

(4)

Vacancy in office, which shall be filled in the manner hereinabove provided within thirty (30) days of its occurrence for the remainder of the unexpired term, shall occur whenever a member is removed from office, becomes disqualified, or is otherwise unable to serve, or resigns.

(5)

Each member of the Board shall serve without compensation for services rendered as a member, but may be reimbursed by the Board for necessary and reasonable expenses actually incurred in the performance of duty. The Board may require that all its members or any or all of its officers or employees be required to post bond for faithful performance of duty; the Board shall require such bond of all persons authorized to sign on accounts of the Board, and the Board shall pay bonding costs. No member of the Board shall be personally liable for any action taken in attempting in good faith to perform his duty, or for a decision not to act, except in instances of fraud or willful neglect of duty.

(Laws of Fla. ch. 71-810, § 5; Laws of Fla. ch. 78-577, § 3)