[HISTORY: Adopted by the Township Council of the Township of Upper Darby as indicated in article histories. Amendments noted where applicable.]
[Adopted 6-19-2002 by Ord. No. 2923]
The Township intends to and shall file Articles of Incorporation with the Secretary of the Commonwealth of Pennsylvania for the purpose of incorporating the Upper Darby Industrial Development Authority. The Authority shall be formed pursuant to the Pennsylvania Economic Development Financing Law, 73 P.S. § 371 et seq. The Articles of Incorporation shall be in a form substantially similar to that set forth on Exhibit A hereto.[1]
[1]
Editor's Note: Exhibit A is on file in the Township office.
The initial members of the Upper Darby Industrial Development Authority and their terms of office shall be as follows:[1]
[1]
Editor's Note: The names and terms of office of the initial members followed; a complete copy of the ordinance, with those names, is on file in the Township office.
The term of existence of the Upper Darby Industrial Development Authority shall be 50 years, which term may be extended in accordance with the provisions of the Pennsylvania Economic Development Financing Law.