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• 408.03 408.06 (Rev. 2/01) 408.03: COMPOSITION, MEMBERS, QUALIFICATION OF MEMBERS, TERMS OF OFFICE: (Ord. 677,2-12-01) The Commission shall be composed of seven (7) equal voting members, including three (3) business representatives and four (4) residents, appointed by the Authority Board of Commissioners based on the recommendation of the Economic Development Commission, from the applications submitted. Members shall have diverse qualifications with practical experience consisting of, not limited to, but including one (1) of the following areas: economics, finance, accounting, real estate, social services and marketing. For the purpose of initiating the Commission, the terms of all members shall expire December 31, 1994. (Amended, Ord. 741, 6- 28-04) Beginning January 1995, three (3) members shall serve a one (1) year term, two (2)members shall serve two (2) year terms and (2) members shall serve three (3) year terms. Thereafter, members shall serve three (3) year staggered terms, with terms expiring December 31 of each year. At least two (2) of these terms, but not more than three (3) terms shall expire each year. The appointees shall be duly sworn and take office at the first regular meeting of the Commission in the month of January each year. Both original and successive appointees shall hold their offices until their . successors are appointed and qualified. (Ord. 546,7-25-94; Ord. 677,2-12-01) 408.04: CONFLICT OF INTEREST: No person shall be appointed with private or personal interest likely to conflict with the general public interest. If any person appointed shall find that their private or personal interests are involved in any matter coming before the Commission, they shall disqualify themselves from taking part in action on the matter; alternatively, they may be disqualified by a two-thirds (2/3) majority vote of the Commissioners in attendance. (Ord. 542, 6-27-94) 408.05: COMPENSATION: Members of the Commission shall serve without compensation. (Ord. 542,6-27-94) 408.06: VACANCIES: Subd. 1. Termination of Appointment: Any Commission member designing to terminate their appointment to the Commissioner before the expiration of their term shall give written notification to the Commission chairperson of their intentions. It should be the duty of the chairperson of the Commission to notify the Authority promptly of any vacancies. The Authority president, with approval of a majority of the Authority Board of Commissioners, • shall appoint a new member from applications received for the unfulfilled portion of the term. City of Mounds View