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ORDINANCE NO. 2004-18 AN ORDINANCE TO AMEND MEMBERSHIP OF THE MUNICIPAL FINANCE COMMISSION BY ADDING THERETO TWO MEMBERS OF CITY COUNCIL. BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: 1. That the Code of the City of Portsmouth, Virginia (1988) be, and hereby is, amended and reordained by amending and reenacting Sections 12-143 and 12-144 as follows: Sec. 12-143. Composition; appointment of members. The Commission shall consist of nine members. The City Manager and the Chief Financial Officer of the City shall be nonvoting ex officio members of the Commission, and the remaining seven members shall be appointed by the City Council. Of the seven so appointed, two shall be members of City Council, and the remaining five members shall be either residents or property or business owners within the city or shall be employed in the City. Sec. 12-144. Terms of members. The terms of the ex officio members of the commission shall begin on the dates of their appointments to their respective positions and continue for so long as they hold their respective positions. The terms of the City Council members shall commence on the date of their appointment and conclude on the expiration of their respective then-current terms on City Council. The terms of the five other appointed members of the commission shall be for four years or for such shorter period as the city council shall specify at the time of appointment. All commission members shall hold office during their respective terms at the pleasure of the City Council and until their successors are appointed. 2. This ordinance shall take effect on the date of its adoption. Adopted by the Council of the City of Portsmouth, Virginia, at a meeting held on March 23, 2004. Teste: City Clerk