[Ord. 825, 3/15/2001, § 1]
Borough Council signifies its intention and desire to organize
an Authority under the Economic Development Financing Law, as amended,
73 P.S. § 371 et seq. (The "law"), for the purposes of exercising
any and all powers conferred by the law.
[Ord. 825, 3/15/2001, § 2]
The President of Borough Council and the Secretary, respectively,
of the Borough are authorized and directed to execute, in behalf of
the Borough, Articles of Incorporation for said Authority, in substantially
the following form:
ARTICLES OF INCORPORATION
TO THE SECRETARY OF THE COMMONWEALTH OF PENNSYLVANIA:
In compliance with requirements of the Acts of Assembly, approved
August 23, 1967, P.L. 251, as amended and supplemented, known as the
Economic Development Financing Law, as amended by the Act of December
17, 1993, P.L. 490, 73 P.S. § 371 et seq., and pursuant
to an Ordinance duly enacted by the municipal authorities of the Borough
of Elizabethtown, Lancaster County, Pennsylvania, expressing the intention
and desire of the municipal authorities of said municipality to organize
an authority, under provisions of said Economic Development Financing
Law, said municipality certifies:
1. The name of the authority is "Elizabethtown Industrial Development
Authority."
2. The authority is formed under said Economic Development Financing
Law, as amended and supplemented.
3. The name of the incorporating municipality is the Borough of Elizabethtown,
Lancaster County, Pennsylvania.
4. The name and address of the municipal authorities of the said incorporating
municipality is: [Here followed the office, name and address of the
municipal authorities of the Borough.]
5. The members of the Board of the authority shall be nine in number.
6. The names and addresses and terms of office of the first members
of the Board of the Authority, which in accordance with the Economic
Development Financing Law shall be measured from January 1, 2001,
are as follows: [Here followed the names, addresses and terms of office
of the members of the first board of said Authority.].
7. The term of existence of the Authority shall be 50 years from its
date of incorporation.
8. The Authority shall have all powers authorized by the Economic Development
Financing Law.
[Ord. 825, 3/15/2001, § 3]
The Board of the Authority shall consist of five members.
[Ord. 825, 3/15/2001, § 4]
The surplus assets of the Authority not reasonably required
to meet or provide for the obligations or operation of the Authority
shall be transferred, upon the written direction of the Borough, to
the Borough, from time to time.
[Ord. 825, 3/15/2001, § 5]
The President of Borough Council and the Secretary, respectively,
of the Borough further are directed to cause notice of the substance
of this Part, including the substance of the foregoing Articles of
Incorporation, and of the proposed filing of such Articles of Incorporation
to be published as required by the law.
[Ord. 825, 3/15/2001, § 6]
The President of Borough Council and the Secretary, respectively,
of the Borough further are directed to cause such Articles of Incorporation,
together with the necessary proofs of publication, to be filed with
the Secretary of the Commonwealth of Pennsylvania, and to do all other
acts and things necessary or appropriate to effect the incorporation
of such Authority, including payment of any filing fees required in
connection therewith.
[Ord. 825, 3/15/2001, § 7]
The enactment of this Part is deemed necessary for the benefit
and preservation of the public health, peace, comfort and general
welfare of and will increase the prosperity of the citizens of this
Borough.