(A) Board of Trustees. There is hereby created a Police Pension Board of Trustees which shall have all the powers and authorities set for such boards in I.C. 36-8-6 (1925 Fund) and I.C. 36-8-8 (1977 Fund), and shall bear such duties and responsibilities as are therein set out. The provisions of I.C. 36-8-6 and I.C. 36-8-8, as amended, are of full force and effect for the Town of New Palestine.
(B) Board composition. The Police Pension Board shall be composed of 7 trustees. The President of the Town Council, the Town Clerk Treasurer, and the Police Chief are ex officio members of the Board. A retired town police officer and 3 active town police officers shall be elected during a meeting of the members of the Police Department at the central police station as provided in I.C. 36-8-6-2.
(C) Vacancies. If a vacancy occurs on the Board among the members elected by Town Police Department, the Police Department members shall hold a special meeting upon the call of the Town Council President and elect a successor for the remainder of the vacating member's term.
(D) Powers and duties. The Board shall have all the powers and duties provided under Indiana law.
(E) Bylaws and rules. The Board may make all necessary bylaws or rules in accordance with I.C. 36-8-6-2(g).
(Ord. 080421, passed 8-4-2021)