It is the desire of the Narberth Borough Council, Montgomery
County, Pennsylvania, and said Council hereby signifies its intention,
to organize an Industrial Development Authority in the Borough of
Narberth, Montgomery County, Pennsylvania under the Economic Development
Financing Law, Act of August 23, 1967 P.L. 251, as amended.
Pursuant to said desire and intention and in conformity with
the terms and provisions of said Economic Development Financing Law,
the proposed Articles of Incorporation are hereby set forth in full
as follows:
Articles of Incorporation
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To the Secretary of the Commonwealth of Pennsylvania in Harrisburg,
Pennsylvania: In compliance with the provisions of the Economic Development
Financing Law of August 23, 1967, P.L. 251, and pursuant to the subsequent
amendments to said law and in compliance with the resolution and ordinance
adopted by the Council of the Borough of Narberth, Montgomery County,
Pennsylvania on February 7, 2001, that an Industrial Development Authority
be established under the provisions of the aforementioned law, the
Council of the Borough of Narberth, Montgomery County, Pennsylvania,
desires that an Industrial Development Authority be established and
that a certificate of incorporation be issued to said Authority, and
does hereby certify:
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1.
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The name of the Authority shall be Narberth Borough Industrial
Development Authority.
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2.
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The Authority shall be formed under the Industrial and Commercial
Development Authority Law of August 23, 1967 P.L. 251 as amended,
currently known as the "Economic Development Financing Law" (73 P.S.
§ 371 et seq.).
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3.
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The name of the incorporating municipality is the Borough of
Narberth, Montgomery County, Pennsylvania.
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4.
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The names and addresses of the Council of the Borough of Narberth,
Montgomery County, Pennsylvania are as follows:
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Kathleen M. Valentine, President
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5 Shirley Road
Narberth, PA 19072
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William R. Henderson, Vice Pres.
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503 Homewood Avenue
Narberth, PA 19072
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Nancy Lotz
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21 Windsor Avenue
Narberth, PA 19072
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Hunter Martin
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105 Windsor Avenue
Narberth, PA 19072
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Mary Jo Pauxtis
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1294 Montgomery Avenue
Narberth, PA 19072
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Larry D. Rubin
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2 Langdon Lane
Narberth, PA 19072
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Mary Ann Zelno
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520 North Essex Avenue
Narberth, PA 19072
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5.
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The Board of said Authority shall consist of five persons who
shall each serve for a five-year term, except for the first members
of the Board whose terms shall be staggered. The names and addresses
and terms of office of the first members of the Board of said Authority
are as follows:
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Name
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Address
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Term
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Thomas F. Grady, Esq.
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23 Windsor Avenue
Narberth, PA 19072
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1 year
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Andrew R. Haakenson
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203 Wayne Avenue
Narberth, PA 19072
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2 years
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Stephen Y. Stein
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7 Langdon Lane
Narberth, PA 19072
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3 years
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Anne P. Gallagher
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26 Sabine Avenue
Narberth, PA 19072
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4 years
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Maureen M. Sexton
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213 Elm Terrace
Narberth, PA 19072
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5 years
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6.
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The term of existence of the Authority shall be 50 years.
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7.
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All net income of the Narberth Borough Industrial Development
Authority shall be paid or applied to capital municipal programs of
the Borough of Narberth.
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The Articles of Incorporation of said Authority shall be executed
by and on behalf of the Borough of Narberth by the President of the
Narberth Borough Council. The Seal of the Borough shall be affixed
thereto and attested by the Secretary. The Borough Secretary is authorized
and directed to cause to be published the notice of this chapter which
shall contain the substance of the Articles of Incorporation as required
by the aforementioned Act. Upon receipt of proof of publication as
required by said Act, the Articles of Incorporation, properly executed,
shall be filed with the Secretary of the Commonwealth.
All costs of incorporation and organization of the said Authority,
including, but not limited to, filing fees, costs of publication,
and legal fees, advanced by the Borough shall be reimbursed to the
Borough by the Authority within one year of the date of incorporation
of the Authority.
[Amended 5-17-2017 by Ord. No. 999]
Any and all net proceeds of the Authority shall be paid or applied only to eligible municipal capital improvement projects ["eligible project(s)"] within the Borough of Narberth as recommended by Borough Council as set forth in §
56-6. An eligible project shall be defined as a physical betterment or improvement, or any studies or surveys required and relative thereto, including, but not limited to, any property of a permanent nature, and equipment or services needed in connection with such improvement, when first erected or acquired.
[Added 5-17-2017 by Ord.
No. 999]
A. The Borough Manager shall solicit eligible projects from Borough
Council for submission to the Authority, and may make recommendations
to Borough Council regarding potential eligible projects. In making
such recommendations to Borough Council, the Borough Manager shall
provide Borough Council with an evaluation of the eligible project
and a recommendation concerning the funding of the eligible project.
B. Prior to submitting an eligible project to the Authority, a majority
vote of Borough Council must approve of such submission. Once approved
by Borough Council, the Borough Manager shall submit the eligible
project to the Authority along with an evaluation of the eligible
project as well as any recommendation the Manager deems appropriate
concerning the funding of the eligible project.
[Amended 4-21-2021 by Ord. No. 1032]
[Added 5-17-2017 by Ord.
No. 999]
A. The members of the Authority shall serve without compensation, but
they may be reimbursed for necessary traveling expenses or expenses
necessary to carry out the objectives of the Authority when those
expenses are deemed necessary and appropriate and have been approved
by the Borough Council and appropriated in the annual budget.
B. A member of the Authority shall hold office until their successor
has been appointed by Borough Council. However, a member of the Authority
may be removed at any time, with or without cause, by a majority vote
of Borough Council.
[Amended 4-21-2021 by Ord. No. 1032]
C. If a vacancy shall occur by reason of the death, disqualification,
resignation, or removal of a member, a successor shall be appointed
by Borough Council to fill the remainder of the unexpired term.
[Added 5-17-2017 by Ord.
No. 999]
The Authority shall keep a full record of its business and shall
no less than annually make a written report of its activities to the
Borough Council. Interim reports may be made as often as may be necessary
or as requested by the Borough Council. In addition to written reports,
and upon request of Borough Council, the Authority shall send a representative
to attend a Council/Committee meeting in order to present on any matters
so requested.