The park and recreation board shall be composed of five members, who shall be residents of such municipality. The members of the board shall serve without compensation and shall be chosen solely because of their character and fitness. Each of the members first selected shall be chosen by the governing body of such municipality. The term of office of each member shall be five years, except that the members first chosen by the governing body of such municipality shall be appointed for such terms that the term of one member shall expire annually after the date of appointment, and the governing body shall, in making such appointment, designate the term for which each such member is appointed, which shall be shown in the minutes of the meeting at which the appointments are made.
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