§ 36-7-14-8 — Meetings; officers; rules; quorum; treasurer disbursements before commission approval; accounting for redevelopment commission funds; short term borrowing by unit

(a) The redevelopment commissioners shall
hold a meeting for the purpose of organization not later than thirty (30)
days after they are appointed and, after that, each year on a day that is
not a Saturday, a Sunday, or a legal holiday and that is their first
meeting day of the year. They shall choose one (1) of their members as
president, another as vice president, and another as secretary. The
president and vice president shall not have the same appointing
authority. These officers shall perform the duties usually pertaining to
their offices and shall serve from the date of their election until their
successors are elected and qualified.
(b) The fiscal officer of the unit establishing a redevelopment
commission is the treasurer of the redevelopment commission.
Notwithstanding any other provision of this chapter, but subject to
subsection (c), the treasurer has charge over and is responsible for the
administration, investment, and disbursement of all funds and accounts
of the redevelopment commission in accordance with the requirements
of state laws that apply to other funds and accounts administered by the
fiscal officer. The treasurer shall report annually to the redevelopment
commission before April 1.
(c) The treasurer of the redevelopment commission may disburse
funds of the redevelopment commission only after the redevelopment
commission allows and approves the disbursement. However, the
redevelopment commission may, by rule or resolution, authorize the
treasurer to make certain types of disbursements before the
redevelopment commission's allowance and approval at its next regular
meeting.
(d) The following apply to funds of the redevelopment commission:
(1) The funds must be accounted for separately by the unit
establishing the redevelopment commission and the daily balance
of the funds must be maintained in a separate ledger statement.
(2) Except as provided in subsection (e), all funds designated as
redevelopment commission funds must be accessible to the
redevelopment commission at any time.
(3) The amount of the daily balance of redevelopment
commission funds may not be below zero (0) at any time.
(4) The funds may not be maintained or used in a manner that is
intended to avoid the waiver procedures and requirements for a
unit and the redevelopment commission under subsection (e).
(e) If the fiscal body of a unit determines that it is necessary to
engage in short term borrowing until the next tax collection period, the
fiscal body of the unit may request approval from the redevelopment
commission to waive the requirement in subsection (d)(2). In order to
waive the requirement under subsection (d)(2), the fiscal body of the
unit and the redevelopment commission must adopt similar resolutions
that set forth:
(1) the amount of the funds designated as redevelopment
commission funds that are no longer accessible to the
redevelopment commission under the waiver; and
(2) an expiration date for the waiver.
If a loan is made to a unit from funds designated as redevelopment
funds, the loan must be repaid by the unit and the funds made
accessible to the redevelopment commission not later than the end of
the calendar year in which the funds are received by the unit.
(f) Subsections (d) and (e) do not restrict transfers or uses by a
redevelopment commission made to meet commitments under a written
agreement of the redevelopment commission that was entered into
before January 1, 2016, if the written agreement complied with the
requirements existing under the law at the time the redevelopment
commission entered into the written agreement.
(g) The redevelopment commissioners may adopt the rules and
bylaws they consider necessary for the proper conduct of their
proceedings, the carrying out of their duties, and the safeguarding of
the money and property placed in their custody by this chapter. In
addition to the annual meeting, the commissioners may, by resolution
or in accordance with their rules and bylaws, prescribe the date and
manner of notice of other regular or special meetings.
(h) This subsection does not apply to a county redevelopment
commission that consists of seven (7) members. Three (3) of the
redevelopment commissioners constitute a quorum, and the
concurrence of three (3) commissioners is necessary to authorize any
action.
(i) This subsection applies only to a county redevelopment
commission that consists of seven (7) members. Four (4) of the
redevelopment commissioners constitute a quorum, and the
concurrence of four (4) commissioners is necessary to authorize any
action.
[Pre-Local Government Recodification Citations: 18-7-7-8;
18-7-7.1-8.]
As added by Acts 1981, P.L.309, SEC.33. Amended by
P.L.192-1988, SEC.4; P.L.41-1992, SEC.4; P.L.18-1992, SEC.24;
P.L.190-2005, SEC.8; P.L.149-2014, SEC.4; P.L.87-2015, SEC.1;
P.L.204-2016, SEC.32; P.L.85-2017, SEC.121; P.L.236-2023,
SEC.170.