Sec. 16. (a) An economic development commissioner shall disclose any pecuniary interest in any employment, financing agreement, or other contract made under this chapter before any action by the commission on it, and shall not vote on any such matter.

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Terms Used In Indiana Code 36-7-12-16

  • Contract: A legal written agreement that becomes binding when signed.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
     (b) Notwithstanding any other law, a member of the fiscal body of a unit may have a pecuniary interest in any employment, financing agreement, or other contract made under this chapter if the member discloses the member’s pecuniary interest before any action by the fiscal body on it and does not vote on any such matter.

     (c) If any property in which an economic development commissioner or member of a fiscal body of a unit has a pecuniary interest is property required for the purposes of this chapter, that property may be acquired, but only by gift or condemnation.

[Pre-Local Government Recodification Citation: 18-6-4.5-9.]

As added by Acts 1981, P.L.309, SEC.31. Amended by P.L.127-2017, SEC.198.

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