99.340. 1. When the governing body of a municipality adopts aresolution or ordinance as aforesaid, it shall promptly notify the mayor ofsuch adoption. If the resolution or ordinance adopted is one approving theexercise of powers hereunder by a land clearance for redevelopmentauthority, the mayor shall appoint a board of commissioners of suchauthority which shall consist of five commissioners, and when the governingbody of a county adopts such a resolution, said body shall appoint a boardof commissioners of the authority created for such county which shallconsist of five commissioners.
2. All commissioners of an authority shall be taxpayers who haveresided for a period of five years in, in the case of a municipality, thearea within the municipality; and, in the case of a county, the area withinthe county.
3. Two of the commissioners who are first appointed shall bedesignated to serve for terms of one year from the date of theirappointment and three shall be designated to serve for terms of two, threeand four years respectively from the date of their appointment.Thereafter, commissioners shall be appointed as aforesaid for a term ofoffice for four years except that all vacancies shall be filled for theunexpired term.
(L. 1951 p. 300 ยง 4, A.L. 1997 H.B. 689)