Title
Approving the Municipal Statement of Revival of the Frankford Special Services District of Philadelphia and authorizing the filing of such statement with the Secretary of the Commonwealth of Pennsylvania for the purpose of retroactively reviving and extending the term of the District, all under certain terms and conditions.
Body
WHEREAS, Bill No. 940683 (Bill No. 1000), approved May 27, 1995, authorized the City of Philadelphia to organize an Authority known as the "Frankford Special Services District of Philadelphia" (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 (5) years, as set forth in the Articles of Incorporation of the Authority approved by Bill No. 1000; and
WHEREAS, Bill No. 960233 (Bill No. 88) approved July 5, 1996, approved the plan, estimated costs and proposed method of charges of the Authority for and concerning business improvements and administrative services to the Frankford Avenue business district of the City of Philadelphia; and
WHEREAS, Bill No. 000541, approved December 19, 2000, adopted an amendment to the Articles of Incorporation extending the term of the Authority to December 31, 2005; and
WHEREAS, pursuant to the Act, an expired municipal authority may be revived upon the filing of a Municipal Statement of Revival, approved by the municipal authorities of the municipality, with the Secretary of the Commonwealth and the issuance of a certificate of revival; and
WHEREAS, The Council of the City of Philadelphia desires that the Authority be retroactively revived so that the Authority is restored to its previous legal position in the same manner and to the same extent as if its term of existence had never expired, and that the business affairs of the Authority, during its term of expiration, be validated, including all contracts and other transactions made and effected with...
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