(A) There is hereby created a board to be known as the Paoli Redevelopment Commission (the “Commission”). Three of the members of the Commission shall be appointed by the President of the
Town Council (the “Council President”) and two shall be appointed by the Town Council of the Town. Each Redevelopment Commissioner shall serve for one year from the first day of January 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 the first day of January 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 indorsed on the certificate of his or her appointment, which shall be promptly filed with the Clerk-Treasurer of the town.
(C) Each Redevelopment Commissioner, before taking his or her duties, shall execute a bond payable to the State of Indiana (the “state”), with surety to be approved by the Council President. The bond must be in a penal sum of $15,000 and must be conditioned on the faithful performance that may come into his or her hands or under his or her control. The cost of the bond shall be paid by the special taxing district.
(Ord. 2011-03, passed 5-17-11)