(A) There is hereby created a Board to be known as the Redevelopment Commission. Three of said Commissioners shall be appointed by the President of the Town Council and two shall be appointed by the Town Council. In addition, the Town Council President shall appoint one non-voting member from the membership of a school board of a school corporation located wholly or partly within the town. Each Redevelopment Commissioner shall serve for one 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.
(B) Each Redevelopment Commissioner, before beginning his or her duties, 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.
(C) Each Redevelopment Commissioner, before beginning his or her duties, 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.
(Ord. G-17-05, passed 11-20-2017)