Sec. 5. (a) Immediately after January 15 each year, the board shall hold an organizational meeting. They shall elect one (1) of the members vice president, another secretary, and another treasurer to perform the duties of those offices. The officers serve from the date of their election until their successors are elected and qualified.
(b) The members may adopt the bylaws and rules that they consider necessary for the proper conduct of their duties and the safeguarding of the funds and property entrusted to their care. A majority of the members constitutes a quorum, and the concurrence of a majority of the board is necessary to authorize any action.
As added by Acts 1982, P.L.218, SEC.3.
Structure Indiana Code
Article 10. Recreation, Culture, and Community Facilities
Chapter 8. Capital Improvement Boards in Certain Counties
36-10-8-1. Application of Chapter
36-10-8-3. Continuation; Creation; Authority to Finance Capital Improvements
36-10-8-4. Membership; Terms; Vacancies; Removal; Oath; Reimbursement of Expenses
36-10-8-5. Organizational Meeting; Officers; Bylaws; Quorum; Approval of Actions
36-10-8-8. Budget; Preparation; Review
36-10-8-9. Deposit of Net Income From Operation of Capital Improvements
36-10-8-10. Payment of Certain Operational Expenses From Capital Improvement Fund
36-10-8-11. Handling and Expenditure of Funds; Treasurer; Controller; Reports; Audits
36-10-8-12. Capital Improvement Fund; Deposit of Tax Revenues; Expenditures
36-10-8-14. Revenue Bonds; Authority to Issue; Procedure
36-10-8-15. Bonds; Covenant With Purchasers; Continuation of Statute
36-10-8-16. General Obligation Bonds; Authority to Issue; Procedure
36-10-8-17. Bonds; Application of Proceeds to Construction Cost; Deposit in Reserve Subaccount
36-10-8-20. Dissolution of Boards Created Under Ic 18-7-18; Escheat of Funds
36-10-8-21. Capital Improvement Board of Managers Operations; Annual Report