HomeMy Public PortalAbout058-1990- ORDINANCE CREATING THE CITY REDEVELOPMENT AUTHORITY.pORDINANCE NO. 58-1990
AN ORDINANCE CREATING THE CITY OF RICHMOND REDEVELOPMENT AUTHORITY
WHEREAS, IC 36-7-14.5 (the "Act") authorizes the Common
Council of the City of Richmond, Indiana (the "City"), to create
by ordinance a redevelopment authority as a separate body
corporate and politic and as an instrumentality of the City to
finance local public improvements for lease to the Richmond
Redevelopment Commission (the "Commission"); and
WHEREAS, the Commission at its August 6, 1990, meeting
recommended to the Common Council the creation of the Richmond
Redevelopment Authority pursuant to the Act and indicated its
intent to work with the Richmond Redevelopment Authority, when
created, to enter into a lease agreement for construction and
financing of certain public improvements in the Richmond
Allocation Area No. 1.
NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF
THE CITY OF RICHMOND, INDIANA, as follows, to -wit:
SECTION 1. There is hereby created the Richmond
Redevelopment Authority (the "Authority") as a separate body
corporate and politic and as an instrumentality of the City, for
the purposes and with all powers and duties now or hereafter
granted to it by the Act.
SECTION 2.
(a) The Authority shall be under the control of a
Board of Directors (the "Board") consisting of three (3) members,
who must be residents of the City appointed by the Mayor of the
City.
(b) A member is entitled to serve.a three (3) year
term. A member may be reappointed to subsequent terms.
(c) If a vacancy occurs on the Board, the Mayor of the
City shall fill the vacancy by appointing a new member for the
remainder of the vacated term.
(d) A Board member may be removed for cause by the
Mayor of the City.
(e) Each member, before entering upon the duties of
office, must take and subscribe an oath of office under IC 5-4-1,
which shall be endorsed upon the certificate of appointment and
filed with the records of the Board.
(f) A member may not receive a salary, and no profit
or money of the Authority inures to the benefit of a member.
SECTION 3. If any part of this Ordinance shall be
adjudged to be invalid by a Court of proper.jurisdiction, it
shall be conclusively presumed that the Common Council of the
City would have passed the remainder of the Ordinance without
such invalid part.
SECTION 4. This Ordinance shall be in full force and
effect immediately from and after its passage by the Common
Council and approval by the Mayor in the manner provided by law.
PASSED by the Common Council of the City of Richmond,
Indiana, on the 7� day of ( , 1990.
ATTEST: / LZ-
City Cl rk
PRESENTED by me to,$he Mayor of the City of Richmond,
Indiana, this ��� day of c 1990.
!
APPROVED by me, Frank H. Waltermann, Mayor of the City
of Richmond, Indiana, this day of
Frank H. 19alferIdnn, Mayor
ATTEST:
City CYerk
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S:\WPDOCS�RCST.ARUXWPROC\RICHMOND.ORN;esr.8-15-90
CITY OF RICHMOND, INDIANA
MEMO
DATE: August 17, 1990
TO: Jane Brookbank, President and Members of Common Council
FROM: Mary Merchanthouse, City Clerk
SUBJECT: Ordinance No. 58-1990
COPY TO: file
The Ordinance requested by Council to facilitate the creation of the Redevelopment Authority.