[HISTORY: Adopted by the City Council of the City of Laconia 12-29-1975 as Ch. 15 of the Public Ordinances of 1975. Amendments noted where applicable.]
There shall be a board of three Trustees of Trust Funds. The City Council shall annually at the regular City Council meeting in March, appoint one such Trustee to take the place of the Trustee whose term then expires and to serve for the term of three and until his successor is chosen and qualified.
The Trustees of Trust Funds shall give bond in such sum as the City Council may from time to time direct.
The powers, duties and liabilities of the Trustees of Trust Funds shall be as provided by the laws of the State of New Hampshire relative to Trustees of Trust Funds in towns.
The Trustees of Trust Funds shall organize annually immediately after the election of the member of their Board, by the election of a Chairman and Secretary-Treasurer.
The Secretary-Treasurer shall receive such compensation or salary for his services as the City Council shall determine.