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§ 374. Method of incorporation; applicable elected representative

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 73 P.S. Trade and Commerce

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 73 P.S. Trade and Commerce (Refs & Annos)
Chapter 12. Economic Development Financing Law (Refs & Annos)
73 P.S. § 374
§ 374. Method of incorporation; applicable elected representative
Currentness
(a) Whenever the governmental body of any municipality shall desire to organize an authority under this act, it shall adopt a resolution or ordinance signifying its intention to do so.
Thereafter, the governmental body of such municipality shall cause a notice of such resolution or ordinance to be published at least one time in the legal periodical of the county in which such authority is to be organized, and at least one time in a newspaper, published and of general circulation, in such county. Said notice shall contain a brief statement of the substance of said resolution or ordinance, including the substance of articles of incorporation making reference to this act, and shall state that on a day certain, not less than three days after publication of said notice, articles of incorporation of the proposed authority will be filed with the Secretary of the Commonwealth of Pennsylvania. The publication of such notice as aforesaid shall be the only publication required, any law to the contrary notwithstanding.
(b) On or before the day specified in said notice the governmental body shall file with the Secretary of the Commonwealth articles of incorporation together with proof of publication of the notice as aforesaid. Said articles of incorporation shall set forth:
(1) The name of the authority;
(2) A statement that such authority is formed under this act;
(3) The name of the incorporating municipality, together with the names and addresses of the members of its governmental body;
(4) The names, addresses and term of office of the first members of the board of said authority; and
(5) The term of existence of the authority which shall not exceed fifty years; all of which matters shall be determined in accordance with the provisions of this act. Said articles of incorporation shall be executed by the governmental body by its proper officers and under its municipal seal.
(c) The Secretary of the Commonwealth shall forthwith, but not prior to the day specified in the aforesaid notice, and when all proper fees and charges have been paid, file the articles and issue a certificate of incorporation, a copy of which shall be delivered to the secretary. Upon the issuance of such certificate of incorporation by the Secretary of the Commonwealth, the corporate existence of said authority shall begin. Said certificate of incorporation shall be conclusive evidence of the fact that such authority has been incorporated.
(d) Each of the following elected officials of each of the following respective political subdivisions within the Commonwealth is hereby designated and empowered to approve the issuance of bonds to finance the cost of projects within or without each such political subdivision and to approve the acquisition of projects within each such political subdivision:
(1) With respect to any county of any class, the applicable elected representative shall be any county commissioner designated for such purpose by the county commissioners of such county;
(2) With respect to any city of any class, the applicable elected representative shall be the mayor of such city or any council member designated by the mayor for such purpose;
(3) With respect to any township of the first class, the applicable elected representative shall be any township commissioner designated for such purpose by the township commissioners of such township;
(4) With respect to any township of the second class, the applicable elected representative shall be any township supervisor designated for such purpose by the township supervisors of such township;
(5) With respect to any borough, the applicable elected representative shall be the president of borough council or any council member designated by the president for such purpose;
(6) With respect to any political subdivision which has adopted a charter under the act of April 13, 1972 (P.L. 184, No. 62), known as the “Home Rule Charter and Optional Plans Law,”1 the applicable representative designated and empowered to grant the approvals contemplated hereunder shall be the chief elected executive officer designated by the charter of such political subdivision, or, if there is no provision for such executive officer thereunder, the applicable representative shall be any member of the legislative body of such political subdivision designated by such body.

Credits

1967, Aug. 23, P.L. 251, § 4. Amended 1982, Dec. 16, P.L. 1363, No. 312, § 3, imd. effective; 1993, Dec. 17, P.L. 490, No. 74, § 5, imd. effective.

Footnotes

1
53 P.S. § 1-101 et seq. (repealed); see now, 53 Pa.C.S.A. § 2901 et seq.
73 P.S. § 374, PA ST 73 P.S. § 374
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document