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2005-01 Amends Audit Committee CompositionORDINANCE 01-2005 AN ORDINANCE OF THE VILLAGE COUNCIL OF THE VILLAGE OF NORTH PALM BEACH, FLORIDA, AMENDING SECTION 2, COMPOSITION; TERMS; VACANCIES OF ORDINANCE 06-2004, WHICH CREATED AN AUDIT COMMITTEE, FOR THE PURPOSE OF CHANGING THE COMPOSITION AND TERMS OF THE AUDIT COMMITTEE; PROVIDING FOR SEVERABILITY; PROVIDING FOR THE REPEAL OF ALL ORDINANCES OR PARTS OF ORDINANCES IN CONFLICT HEREWITH; AND, PROVIDING FOR AN EFFECTIVE DATE. BE IT ORDAINED BY THE VILLAGE COUNCIL OF NORTH PALM BEACH, FLORIDA: Section 1. Section 2, Composition; Terms; Vacancies; of Ordinance 06-2004 of the Village of North Palm Beach is hereby amended to read as follows: "Section 2. Composition; Terms; Vacancies. (a} Composition. The Audit Committee shall consist of five (5) members and two (2) alternate members. The membership of the Audit Committee shall consist of a member of the Village Council, four (4) Village residents with educational and/or practical experience in the fields of finance or business. (b) Terms. The Village Council shall appoint the Council member on an annual basis during April of each year to take effect the following May 1 of each year. At the first appointment of the four (4) resident members, one (1) member shall be appointed for a term of three (3) years; one member shall be appointed for a term of two (2) years; and two (2) members shall be appointed for one (1) year. Thereafter, resident members shall be appointed for terms of three (3) years. Alternate members shall be appointed on the same day that regular members are appointed and on an annual basis during April of each year to take effect the following May 1 of each year and shall have the duty to sit for any regular member that is absent, including the member Councilman. Alternate members shall be appointed as first alternate and second alternate and shall serve in that order when required. The members shall serve at the pleasure of the Village Council. (c) Vacancies. An appointment to fill any vacancy shall be for the remainder of the unexpired term of office." • Section 2. If any section, paragraph, sentence, clause, phrase or word of this Ordinance is for any reason held by a Court to be unconstitutional, inoperative or void, such holding shall not affect the remainder of this Ordinance. Section 3. All ,Ordinances or parts of Ordinances in conflict herewith are hereby repealed. Section 4. This Ordinance shall take effect immediately upon passage. PLACED ON FIRST READING THIS 13th DAY OF JANUARY, 2005. PLACED ON SECOND, FINAL READING AND PASSED THIS 27th DAY OF JANUARY, 2005. ,,~~~~~ ~ '~1 ~~' ~'~ :' ~'~ r i r ~, AYOR ATTEST;,,,, ~;; VILLAGE CLERK •