A. 
A municipal authority or other agency having power to incur indebtedness, power of condemnation or the power to assess or levy costs, charges or other liability against land or residents may be organized or formed by the Council only if the majority of qualified electors vote in its favor on a question submitted in a referendum election.
B. 
The Council shall first adopt a proposed ordinance, the approval of which shall be submitted for the vote of the qualified electors of the Borough at the next election authorized under the election laws of the Commonwealth of Pennsylvania not less than sixty (60) days from the date of the final Council vote thereon. Copies of the proposed ordinance shall be made available at the polls and shall be available to the public at least thirty (30) days before the scheduled election.
All municipal authorities organized or formed prior to the time this Charter takes effect, and actively functioning at the time this Charter takes effect, shall not be affected hereby and shall continue in full force and effect.