§ 16-102. Board of trustees created; officers; terms; duties; quorum; compensation.

(a)

There is hereby created a board of trustees of the Lake Worth firefighters' relief and pension fund, which board shall consist of three (3) employees of the fire department to be elected by fire participants, the fire chief, and a fifth member appointed by the board who is a qualified elector and freeholder of the city. At the first election of trustees, there shall be elected one firefighter to serve as trustee for a term ending October 1, 1977; one firefighter to serve as trustee for a term ending October 1, 1978; and one firefighter to serve as trustee for a term ending October 1, 1979; thereafter, each year, one firefighter shall be elected to serve as trustee for a three (3) year term. The firefighters thus elected as trustees shall appoint a fifth trustee to serve on the board for a term of one year. The board shall annually elect from its membership a chairman, a secretary and a treasurer. The chairman, or in his absence the treasurer, shall preside at all meetings. The secretary shall keep complete minutes of all proceedings of the board, and send a copy thereof to the city clerk.

(b)

The treasurer shall supervise the books and records which record the receipts and disbursements of the fund and the inventory of assets of the fund. He shall report at each quarterly meeting the assets and liabilities of the fund as of the date of such meeting.

(c)

A certified public accountant shall be retained by the board to audit the fund annually at the expense of the fund. The original audit report shall be submitted to the board, with a copy thereof to the city clerk.

(d)

A quorum of the board shall be three (3) members, one of whom shall be the chairman or the treasurer. The affirmative vote of three (3) members shall be required to take action. The trustees shall receive no compensation as such.

(e)

If the active firefighter membership of this plan falls below ten (10), an active firefighter member seat may be held by either a retired member or an active firefighter member of the plan who is elected by the active and retired members of the plan. If there are no active or retired firefighters remaining in the plan or capable of serving, the remaining board members may elect an individual to serve in the active firefighter seat. Upon receipt of such person's name, the city shall, as a ministerial duty, appoint such person to the board.

(Code 1956, § 25-60.9; Ord. No. 90-26, § 2, 7-16-90; Ord. No. 2010-22, § 3, 9-21-10; Ord. No. 2013-33, § 1, 7-16-13)