(1) Any commission or board of trustees that governs a corporation organized to construct a memorial under s. 45.057 (5) , statutes of 1919 to 1943 (created by chapter 598, laws of 1919 , and repealed by chapter 301, laws of 1945), shall have the following powers in addition to those it now has: (a) All powers vested in the members of the corporation by the articles of incorporation or bylaws, including the power to amend the articles of incorporation. (b) The powers set forth in s. 181.0302 and all other applicable provisions of ch. 181. (c) The power to convey any property under its control to any municipality and lease it back under terms agreed upon by the commission or board of trustees and the municipality. (d) The power to dissolve the corporation and dispose of the real and personal property of the corporation in a manner that it deems will best serve the purposes for which it was organized and the interests of the community. (2) The commission or board of trustees shall have a membership composed of 5 residents of the city, village, or town in which the memorial is located, one appointed by the common council, village board, or town board of the city, village, or town, and 4 by the circuit judge of the county in which the memorial is located. The commission or board may appoint 4 additional members who are residents of this state. The terms of all members shall be 5 years. In order that terms of members may expire at different times, not more than 2 members shall be appointed in any one year in addition to appointments made to fill vacancies occurring by resignation or death. Members shall hold office until their successors are appointed and qualify. (3) Notwithstanding the repeal of s. 45.057, 1943 stats., by chapter 301, laws of 1945 , the continuing existence of all commissions, boards, and corporations organized under s. 45.057 (5), statutes of 1919 to 1943, is affirmed, and the continuing operation of such commissions, boards, and corporations is ratified as to the past and authorized in the future.
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