[Adopted 1-8-1968 by Ord. No. 698]
It is the desire of the Borough Council of the Borough of Punxsutawney, in the County of Jefferson, Commonwealth of Pennsylvania. and said Borough Council hereby signifies its intention to organize an Authority under the Industrial Development Authority Law of August 23, 1967 (Act. No. 102 of 1967).[1]
[1]
Editor's Note: See now 73 P.S. § 371 et seq.
In pursuance of said desire and intention and in conformity with the terms and provisions of said Industrial Development Authority Law[1], the proposed Articles of Incorporation are hereby set forth in full as follows:
ARTICLES OF INCORPORATION OF THE INDUSTRIAL
DEVELOPMENT AUTHORITY OF THE BOROUGH OF
PUNXSUTAWNEY, JEFFERSON COUNTY, PENNSYLVANIA
TO THE SECRETARY OF THE COMMONWEALTH OF
PENNSYLVANIA, HARRISBURG, PENNSYLVANIA:
In compliance with the requirement of the Industrial Development Authority Law of 1967 (Act No. 102 of 1967),[2] and pursuant to ordinance adopted by the Borough Council of the Borough of Punxsutawney, Jefferson County, Pennsylvania, that an Industrial Development Authority be established under the provisions of the aforementioned law, the Borough of Punxsutawney, Jefferson County, Pennsylvania, desiring that an Industrial Development Authority be established and that a certificate of incorporation be issued to said Authority, does hereby certify:
A. 
That the name of the Authority shall be the "Industrial Development Authority of the Borough of Punxsutawney, Jefferson County, Pennsylvania."
B. 
That the Authority is formed under the Industrial Development Authority Law of 1967 (Act No. 102 of 1967).[3]
[3]
Editor's Note: See 73 P.S. § 371 et seq.
C. 
That no other Authority has been organized by the Borough of Punxsutawney under the provisions of this Act.[4]
[4]
Editor's Note: The Act referred to is the Industrial Development Authority Act of 1967, as amended. See 73 P.S. § 371 et seq.
D. 
That the name of the incorporating municipality is the "Borough of Punxsutawney, Jefferson County, Pennsylvania."
The names and addresses of the members of the Borough Council of the Borough of Punxsutawney are as follows:[5]
[5]
Editor's Note: The names and addresses of the current Council members are on file in the Borough offices.
E. 
That the members of the Board shall be five in number. The names, addresses and terms of office of the first members of the Board of said Authority are as follows:[6]
The term of the existence of the Authority shall be 50 years.
IN WITNESS WHEREOF, the Borough of Punxsutawney has caused these Articles of Incorporation to be executed on its behalf by its Mayor and President of Council and its Municipal Seal to be hereunto affixed and attested to by its Borough Secretary.
[6]
Editor's Note: The names addresses and terms of office of the first members of the Board of the Authority are on file in the Borough offices.
[1]
Editor's Note: See 73 P.S. § 371 et seq.
[2]
Editor's Note: See 73 P.S. § 371 et seq.