[Adopted as Sec. 50/V/2 of the 1976 Code]
[Amended 9-1-2009]
The City Council declares that an Industrial Development Financing Authority is needed in the City of Chicopee and that unemployment or the threat thereof exists in the City of Chicopee or security against future unemployment and lack of business opportunity is required in the City and that unemployment or the threat thereof can be alleviated or the security against future unemployment and lack of business opportunity can be provided by attracting new industry to the City or substantially expanding industry existing in the City through an industrial development project or projects financed under Chapter 772 of the Acts of 1967. The Council determines that there is a need for such an authority, and, in making this determination, the Council has taken into consideration the City's ability to adjust to any expected increase in the demand for municipal facilities and services as a result of the expected increase in employment and business activity from such industrial development.
The Clerk is hereby directed to file a certified copy of this article, together with the names of the duly appointed and qualified original directors, with the State Industrial Finance Board, the Department of Commerce and Development and the Secretary of State of the Commonwealth of Massachusetts.
The City of Chicopee respectfully requests a certificate of organization, which certificate shall be conclusive evidence of the lawful establishment of the Industrial Development Financing Authority of the City of Chicopee and the Directors thereof.