The Economic Development Corporation shall be created as a Pennsylvania non-profit corporation and as a government instrumentality as defined by Section 115 of the Internal Revenue Code of 1986, and the governing documents of the Economic Development Corporation shall provide all appropriate powers necessary for the Economic Development Corporation to exercise certain essential governmental functions to serve the interests of the residents of Abington Township as well as the community and economic interests of the same and to perform the responsibilities outlined herein above.
[HISTORY: Adopted by the Board of Commissioners of the Township of Abington 8-10-2023 by Ord. No. 2208.[1] Amendments noted where applicable.]
[1]
Editor's Note: This ordinance superseded former Ch. 8, Economic Development Committee, Art. I, Bylaws, adopted 3-8-2007 by Ord. No. 1946, as amended.
The articles of incorporation of the Abington Township Economic Development Corporation, attached hereto as Exhibit "A,"[1] are hereby adopted and approved by Abington Township, and all appropriate action shall be taken to adopt, deliver and file such articles of incorporation with the Commonwealth of Pennsylvania, Department of State, Corporation Bureau.
[1]
Editor’s Note: Exhibit A is included as an attachment to this chapter.
The bylaws of the Abington Township Economic Development Corporation, attached hereto as Exhibit "B,"[1] are hereby adopted and approved by the Township, and all appropriate action shall be taken with regard to the adoption and execution of the same.
[1]
Editor’s Note: Exhibit B is included as an attachment to this chapter.
A.
The Board of Commissioners is authorized and directed to take any and all actions necessary to create, form and operate the Economic Development Corporation and to make, execute, deliver and file all documents on behalf of the Economic Development Corporation, any and all action and documents as may be necessary to establish and operate the Economic Development Corporation.
B.
The Board of Commissioners is also authorized and permitted to amend the by- laws of the Economic Development Corporation, from time to time, as determined by the Board of Commissioners through resolution rather than ordinance.
The President of the Board of Commissioners is hereby authorized and directed to execute, deliver and file, on behalf of Abington Township as incorporator, the articles of incorporation of the Abington Township Economic Development Corporation in the form attached hereto as Exhibit "A."[1]
[1]
Editor’s Note: Exhibit A is included as an attachment to this chapter.
All ordinances or parts of ordinances, or any section of the Code that are inconsistent with this Chapter shall be, and hereby are, repealed to the extent of such inconsistencies.
This Chapter shall become effective five days after enactment.