Sec. 9. (a) Each year, the board shall hold an organizational meeting on a day that is not a Saturday, a Sunday, or a legal holiday and that is their first meeting day of the year. It shall elect one (1) of the members president, another vice president, and another secretary-treasurer to perform the duties of those offices. These officers serve from the date of their election and until their successors are elected and qualified. The board may elect an assistant secretary-treasurer. Before April 1, the secretary-treasurer shall report annually to the board.

     (b) Not later than April 15 of each year, the board shall submit a report setting out its activities during the preceding calendar year to:

(1) the executive and the fiscal body of the unit that established the redevelopment authority; and

(2) the department of local government finance in an electronic format.

     (c) The report required under subsection (b) must also include the following information set forth for each tax increment financing district regarding the previous year:

(1) Revenues received.

(2) Expenses paid.

(3) Fund balances.

(4) The amount and maturity date for all outstanding obligations.

(5) The amount paid on outstanding obligations.

(6) A list of all the parcels included in each tax increment financing district allocation area and the base assessed value and incremental assessed value for each parcel in the list.

     (d) Special meetings may be called by the president of the board or any two (2) members of the board.

     (e) A majority of the members constitutes a quorum, and the concurrence of a majority of the members is necessary to authorize any action.

As added by P.L.380-1987(ss), SEC.18. Amended by P.L.149-2014, SEC.23; P.L.87-2015, SEC.6.