(A) Pursuant to the Act, this Commission shall consist of three Commissioners, (the "Commissioners") who shall be nominated, as required from time to time, in the manner set forth in the Act and then appointed by the President of the Town Council.
(B) The original Commissioners of this Commission having been nominated by the respective authority and now duly appointed by the President of the Town Council, pursuant to I.C. 36-7-12-6 and shall qualify for the office by taking and subscribing an oath before the Clerk-Treasurer of the town and shall serve for the initial terms, established by the Act.
(1) The Commissioner selected by the President shall serve for a period of three years following February 1 after the original appointment, which shall be until February 1, 2011.
(2) The Commissioner nominated by the President shall serve for a period of two years following February 1 after the original appointment, which shall be until February 1, 2010.
(3) The Commissioner nominated by the County Council shall serve for a period of one year following February 1 after the original appointment, which shall be until February 1, 2009.
(C) Commissioners shall comply with all conflict of interest disclosures, if any, as required by law.
(1) An Economic Development Commissioner shall disclose any pecuniary interest in any employment, financing agreement or other contract made under Chapter 12 of the Act before any action by the Commission on it, and shall not vote on any matter.
(2) Notwithstanding any other law, a member of the Council may have a pecuniary interest in any employment, financing agreement or other contract made under Chapter 12 of the Act he or she discloses the pecuniary interest before any action by the fiscal body on it and does not vote on any matter.
(3) If any property in which an Commissioner or Council member has a pecuniary interest is property required for the purposes of this chapter, that property may be acquired, but only by gift or condemnation.
(D) No Commissioner shall be permitted to receive salary, wage or pay for services in connection with serving upon this Commission, but may receive reimbursement for expenses actually incurred.
(Res. passed 2-12-2007; Ord. 2006-2007-2, passed 2-26-2007)