(A) Redevelopment Commission. There is hereby created the Department of Redevelopment of the town, which shall be entitled to exercise all the rights, powers, privileges and immunities accorded to the Department by the Act. The Department of Redevelopment shall be under the control of a Board of five members to be known as the town’s Redevelopment Commission.
(1) (a) There is hereby created a Board to be known as the town’s 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. The nominations made by the Town Council shall be transmitted to the President of the Town Council in writing within ten days after the final passage of the ordinance codified in this section.
(b) 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 terms.
(c) 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 Town Clerk-Treasurer.
(d) Each Redevelopment Commissioner, before beginning his or her duties, shall execute a bond payable to the state, with surety to be approved by the President of 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.
(2) Such Commissioners shall have the qualifications prescribed by the laws of the state 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 said Act, including but not limited to the following qualifications.
(a) 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 section, he or she forfeits his or her office.
(b) No Redevelopment Commissioner of the town shall receive a salary, but such Redevelopment Commissioners are entitled to reimbursement for expenses necessarily incurred in the performance of their duties.
(c) A Redevelopment Commissioner may not have a pecuniary interest in any contract, employment, purchase or sale made under the provisions of this chapter and 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 section of this chapter is void.
(3) The Town Clerk-Treasurer charged by law for the performance of duties in 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.
(B) Redevelopment Authority.
(1) The town’s Redevelopment Authority is established pursuant to I.C. 36-7-14.5-1 et seq. and further authorizes that the President of the Town Council appoint the initial three-member Board, each of which must be a resident of the town.
(2) Each member appointed is entitled to serve a three-year term, and any member may be reappointed to subsequent terms. If a vacancy occurs on the Board, the President of the Town Council shall fill the vacancy by appointing a new member for the remainder of the vacated term. A member may be removed for cause by the President of the Town Council.
(3) Each member shall take and subscribe an oath of office under I.C. 5-4-1 before entering upon the duties of office, and the oath shall be endorsed upon the certificate of appointment and filed with the records of the Town Council and the Redevelopment Authority. No member shall receive a salary and no profit or money of the Authority shall inure to the benefit of any member.
(4) Immediately after January 15 of each year, the Board shall hold an organizational meeting at which time it shall elect one of the members President, another Vice President and another Secretary-Treasurer to perform the duties of those offices. These officers serve from the date of their election and until their successors are elected and qualified. The Board may also elect an Assistant Secretary-Treasurer.
(5) The Board shall meet when called by the President of the Board or any two members of the Board, and a majority of the members constitutes a quorum, and the concurrence of a majority of the members is necessary to authorize any action by the Board.
(6) The Board shall adopt such bylaws and rules as it considers necessary for the proper conduct of its duties and the safeguarding of the funds and property entrusted to its care.
(7) The Board shall have all authority, powers and duties as set out in I.C. 36-7-14.5-1 et seq.
(8) The members appointed by the President of the Town Council shall execute their oath of office and hold an organizational meeting for the purposes of election of officers, adoption of bylaws, rules and regulations and all other acts and duties required by their appointment within two weeks from January 15, 1992.
(Ord. 19, passed 1-2-1990; Ord. 27-1991, passed 1-7-1992)