§ 5-20-1-3 — Authority creation; membership; terms; expenses; references to Indiana housing finance authority

(a) There is created a public body corporate and
politic of the state of Indiana to be known as the "Indiana housing and
community development authority". The authority shall consist of the
following seven (7) members:
(1) The lieutenant governor or the lieutenant governor's designee.
(2) The treasurer of state, or the treasurer of state's designee.
(3) The public finance director of the Indiana finance authority,
or the public finance director's designee.
(4) Four (4) members appointed by the governor.
Not more than three (3) of the members of the authority appointed
under subdivision (4) shall be members of the same political party.
Members of the authority appointed by the governor shall serve for a
term of four (4) years, except that all vacancies shall be filled for the
unexpired term. However, any appointed member of the authority shall
be removable at the pleasure of the governor, with or without cause. A
member of the authority shall receive no compensation for the
member's services but shall be entitled to reimbursement for the
necessary expenses, including traveling expenses, incurred in the
discharge of the member's duties. Each member shall hold office until
the member's successor has been appointed and has qualified. A
certificate of appointment or reappointment of any members shall be
filed with the authority and this certificate shall be conclusive evidence
of the due and proper appointments of the member.
(b) The powers of the authority shall be vested in the members
thereof in office from time to time. A majority of the members of the
authority shall constitute a quorum for the purposes of conducting its
business and exercising its powers and for all other purposes,
notwithstanding the existence of any vacancies. Action may be taken
by the authority upon a vote of a majority of the members present,
unless the bylaws of the authority require a larger number. Meetings of
the members of the authority may be held anywhere within or outside
the state.
(c) The governor shall appoint a chairman and vice-chairman from
the members of the authority. The governor shall appoint an executive
director for the authority, who shall serve at the pleasure of the
governor and receive compensation as fixed by the authority. The
authority shall employ legal and technical experts and such other
officers, agents and employees, permanent and temporary, as it may
require, and shall determine their qualifications, duties, and
compensation. The authority may also engage independent legal
counsel to assist it. The authority may delegate to one (1) or more of its
agents or employees such powers or duties as it may deem proper.
(d) The authority may also contract with any entity, including the
Indiana finance authority, to provide staff or services, including the
functions of the executive director and employees of the authority,
under such terms as the authority determines.
(e) After May 14, 2005, a reference to the Indiana housing finance
authority in a statute, rule, or other document is considered a reference
to the authority as the successor agency.
As added by Acts 1978, P.L.28, SEC.1. Amended by
P.L.235-2005, SEC.86; P.L.20-2010, SEC.5.