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(3) EXPIRATION OF TERMS: At the expiration of <br />his term no commission member shall be elgible for reappoint- <br />ment until he shall have been off the commission for one year. <br />There shall be no holding over. <br />(4) APPOINTMENT OF COMMISSIONERS: The appoint- <br />ment of members of the Batesville Utilities Commission shall <br />be by the City Council by majority vote of the elected alder- <br />men. <br />(5) PRESIDENT OF _BOARD: The president (chairman) <br />of the Batesville Utilities Commission shall be that member <br />whose term will next expire. The members shall choose one of <br />their number as secretary to keep such minutes and records as <br />is necessary. The president shall preside at all meetings ex-- <br />cept in his absence, a vice-chairman may be elected to preside <br />and in the absence of the secretary, an assistant secretary <br />may be elected. All officers must be members of the commission. <br />(6) MEETINGS: The Batesville Utilities Commission <br />shall meet on a regular basis at least once a month. Called <br />meetings may be had at anytime at the request of the president <br />of the commission or any three commissioners. <br />(7) EXISTING BOND OBLIGATIONS ASSUMED AND NOT <br />IMPAIRED: All existing valid bond obligations of the Batesville <br />Waterworks Commission and the Batesville Sewer Committee are <br />hereby assumed in toto . The financial integrity of all valid <br />bonds of the Batesville Sewer Committee and the Batesville <br />Waterworks Commission is hereby assured. The Utilities Commission <br />