[HISTORY: Adopted by the Borough Council of the Borough of Charleroi as indicated in article histories. Amendments noted where applicable.]
[Adopted 8-23-1938 by Ord. No. 503; readopted 10-8-1991 by Ord. No. 873 as Ch. 11, Art. I, of the 1991 Code]
The Borough hereby expresses its desire and intention to organize an Authority under the Act of June 28, 1935, P.L. 463, as amended, to be known as "Authority of the Borough."
Articles of Incorporation shall be filed with the Secretary of the Commonwealth, setting forth:
The name "Authority of the Borough."
That no other authority organized under the Act of December 27, 1933, P.L. 114, or its amendments, is in existence in and for said Borough.
The Authority shall require corporate security from the Treasurer and other custodians of the Authority's funds, in an amount, at all times, equal to at least 120% of the funds in the hands of such officer or custodian. The premium upon which bond shall be paid by the Authority.
[Amended 8-15-1994 by Ord. No. 896]
The Borough hereby adopts the following amendment to the Articles of Incorporation of the Authority of the Borough, which amendment shall consist of a new provision to be added to the said Articles of Incorporation as follows:
"(Seventh) The term of existence of the Authority is extended to August 1, 2044, a date of 50 years from August 1, 1994."
[Adopted 3-12-1985 by Ord. No. 828; readopted 10-8-1991 by Ord. No. 873 as Ch. 11, Art. II, of the 1991 Code]
It is the desire of the Borough to organize and participate in an Authority under the Municipality Authorities Act of 1945, 53 P.S. § 301 et seq.
In pursuance of said desire and intention, and in conformity with the terms and provisions of the Municipality Authorities Act and its amendments, the Articles of Incorporation are set forth in full in Ordinance No. 828.
Editor's Note: A complete copy of Ord. No. 828 is on file in the Borough offices.
The Articles of Incorporation of the Authority shall be executed on behalf of the Borough by the Southwestern Pennsylvania Regional Commission (SPRPC). SPRPC is hereby authorized to cause to be published notice of this article and the day upon which the Articles of Incorporation will be filed with the Secretary of the Commonwealth of Pennsylvania; to file the Articles of Incorporation together with the article and resolution authorizing the incorporation of the Authority; and to do all other things necessary or appropriate to effect the incorporation of the Mid Mon Valley Transit Authority.