(A) There is hereby established a Housing Authority for the city, consisting of five members designated as Commissioners, and who shall be residents of the city. Commissioners shall be appointed by the City Council for the terms provided by I.C. 36-7-18-7. The Housing Authority shall constitute a municipal corporation, and shall perform all the duties and have all the powers granted to it by I.C. 36-7-18 et seq.
(1) The members of the Authority shall select a Chairperson and Vice-Chairperson, and adopt bylaws, rules, and regulations as provided by statute.
(2) Commissioners shall receive no salary paid out of city funds or monies appropriated to the Housing Authority by the city, but may be compensated in the amount to which they are entitled under I.C. 36-7-18-8 out of other corporate monies or revenues of the Housing Authority.
(3) Commissioners may be removed for causes set out in the appropriate statutes.
(4) No Commissioner or employee may acquire any interest in any plan, project or contract of the Authority. In the event that any such Commissioner shall acquire any interest in any such project, contract or anything proposed by the Authority, he or she shall make a complete written report which shall be entered upon the minutes of the Authority.
(5) The Authority shall present an annual report to the City Council at the Council meeting in January of each year for the year immediately preceding.
(B) The City Council, or other appropriate city officers, departments, and agencies with the approval of the City Council, may as necessary exercise any of the powers or perform any of the functions described under I.C. 36-7-19-3 on behalf or in aid of the Housing Authority.
(1985 Code, § 5-4-1) (Res. passed 1-26-1981; Ord. 8A-1984, passed - -1984)