WHEREAS, Bill No. 1027 (approved April 18, 1995) authorized the organization of an Authority known as the Germantown Special Services District of Philadelphia (the Authority) pursuant to the provisions of the Municipality Authorities Act of 1945 (the Act); and
WHEREAS, The Authority was created for a term of five years, as set forth in the Articles of Incorporation of the Authority approved by Bill No. 1027; and
WHEREAS, The Authority has proposed and City Council desires to extend the term of the Authority to December 31, 2025 by filing an amendment to the Articles of Incorporation of the Authority; now, therefore,
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. City Council hereby adopts the following amendment to the Articles of Incorporation of the Germantown Special Services District of Philadelphia (the Authority) as proposed by the Board of Directors of the Authority:
Paragraph (e) of the Articles of Incorporation shall be deleted in its entirety and, in lieu thereof, paragraph (e) shall be as follows:
(e) The Authority shall exist for a term which shall commence on the date a certificate of Incorporation is issued, as required by the provisions of the Act, by the Secretary of the Commonwealth of Pennsylvania and shall terminate on December 31, 2025.
End
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