Sec. 15. (a) The board of directors of a public transportation corporation in a city consists of either five (5) or seven (7) directors, as determined by the city legislative body.
(b) If the board of directors consists of five (5) directors, they are:
(1) two (2) directors appointed by the city executive, for terms of one (1) and two (2) years, respectively; and
(2) three (3) directors appointed by the city legislative body, for terms of two (2), three (3), and four (4) years, respectively.
(c) If the board of directors consists of seven (7) directors, they are:
(1) three (3) directors appointed by the city executive, for terms of one (1), two (2), and three (3) years, respectively; and
(2) four (4) directors appointed by the city legislative body, for terms of one (1), two (2), three (3), and four (4) years, respectively.