Title
Adopting an amendment to the Articles of Incorporation of the City Avenue Special Services District of Philadelphia and Lower Merion to extend the term of that Authority; all under certain terms and conditions.
Body
WHEREAS, The City of Philadelphia Ordinance No. 960561 (which was signed into law on December 18, 1996) and the Township of Lower Merion Ordinance 3432 (which was signed into law on November 20, 1996) authorized the organization of an Authority known as the City Avenue Special Services District of Philadelphia and Lower Merion (the "Authority") pursuant to the provisions of the "Municipality Authorities Act of 1945," P.L. 382, as amended, (the "Act"); and
WHEREAS, The Authority was created for a term of five years, as set forth in the Articles of Incorporation approved by City of Philadelphia Ordinance No. 960561 and Township of Lower Merion Ordinance 3432; and
WHEREAS, The Authority has proposed and City Council desires to extend the term of the Authority to December 31, 2022 by filing an amendment to the Articles of Incorporation of the Authority; now, therefore,
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. City Council hereby adopts the following amendment to the Articles of Incorporation of the City Avenue Special Services District of Philadelphia and Lower Merion (the "Authority) as proposed by the Board of Directors of the Authority:
Paragraph (f) of the Articles of Incorporation shall be deleted in its entirety and, in lieu thereof, paragraph (f) shall be as follows:
"(f) The Authority shall exist for a term which shall commence on the date a Certificate of Incorporation is issued, as required by the provisions of the Act, by the Secretary of the Commonwealth of Pennsylvania and shall terminate on December 31, 2022."
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