(A) The City Redevelopment Authority shall be governed by a Board of Directors (the “Board”) consisting of three members, each of whom shall be a resident of the city appointed by the Mayor of the city. Each member is entitled to serve a three-year term and may be reappointed to subsequent terms. If a vacancy occurs on the Board, the Mayor of the city shall fill the vacancy by appointing a new member for the remainder of the vacated term. A Board member may be removed for cause by the Mayor of the city.
(B) Each Board member, before entering upon the duties of office, must take and subscribe an oath of office under I.C. 5-4-1, which shall be endorsed upon the certificate of appointment and filed with the records of the Board.
(C) A Board member may not receive a salary, and no profit or money of the City Redevelopment Authority inures to the benefit of the member.
(Ord. 94-10, passed 8-8-1994)