(A)   There is hereby created the Department of Redevelopment, which shall be entitled to exercise all the rights, powers, privileges and immunities accorded to it by I.C. 36-7-14 (the “act”).
   (B)   The Department of Redevelopment shall be under the control of a board of 5 voting members and 1 non-voting member, to be known as the Redevelopment Commission.
   (C)   There is hereby created a board to be known as the Redevelopment Commission.
      (1)   Three of the Commissioners shall be appointed by the President of the Town Council, and 2 shall be appointed by the Town Council. In addition, the Town Council President shall appoint 1 non-voting member from the membership of a school board of a school corporation located wholly or partly within the town.
      (2)   Each Redevelopment Commissioner shall serve for 1 year from January 1 after his or her appointment and until his or her successor is appointed and has qualified, except that the original Commissioners shall serve from the date of their appointment until January 1 in the second year after their appointment. If a vacancy occurs, a successor shall be appointed in the same manner as the original Commissioner, and the successor shall serve for the remainder of the vacated term.
      (3)   Before beginning his or her duties, each Redevelopment Commissioner shall take and subscribe an oath of office in the form prescribed by law, to be endorsed on the certificate of his or her appointment, which shall be promptly filed with the Clerk-Treasurer.
      (4)   Before beginning his or her duties, each Redevelopment Commissioner shall execute a bond payable to the state, with surety to be approved by the Town Council. The bond must be in a penal sum of $15,000, and must be conditioned on the faithful performance of the duties of his or her office, and the accounting for all monies and property that may come into his or her hands or under his or her control. The cost of the bond shall be paid by the Redevelopment District.
   (D)   The Commissioners shall have the qualifications prescribed by the laws of the State of Indiana, as from time to time amended, and shall qualify as therein provided; and shall exercise and enjoy the rights and powers and assume the duties and obligations conferred and imposed by the act, including but not limited to, the following qualifications:
      (1)   A Redevelopment Commissioner must be at least 18 years of age and must be a resident of the town. If a Commissioner ceases to be qualified under this division, he or she forfeits his or her office.
      (2)   No Redevelopment Commissioner shall receive a salary; but Redevelopment Commissioners are entitled to reimbursement for expenses necessarily incurred in the performance of their duties.
      (3)   A Redevelopment Commissioner may not have a pecuniary interest in any contract, employment, purchase or sale made under the provisions of this section or the act. However, any property required for redevelopment purposes in which a Commissioner has a pecuniary interest may be acquired, but only by gift or condemnation. A transaction made in violation of this division is void.
   (E)   The Clerk-Treasurer, charged by law with the performance of duties with respect to the funds and accounts of the town, shall perform the same duties with respect to the funds and accounts of the Department of Redevelopment, except as otherwise provided for in the act.
(Ord. 2014-33, passed 8-4-2014)