READ AND PASSED

This enacted ordinance gives the Philadelphia Municipal Authority the power to undertake any project that City Council specifically authorizes in a future ordinance, using the powers allowed under state law. It also directs the Authority to update and file amendments to its incorporation documents with the Pennsylvania Secretary of the Commonwealth as needed to carry out the ordinance.

Authorizing The Philadelphia Municipal Authority (the "Authority"), incorporated pursuant to the Municipality Authorities Act (as amended from time to time, the "Act"), 53 Pa. C. S. Ch. 56, to undertake any project (as defined in the Act) that the Authority is specifically authorized to undertake from time to time by ordinance of the City Council and authorizing and directing the Authority to adopt and file with the Secretary of the Commonwealth of Pennsylvania such amendments to the Articles of Incorporation of the Authority as are necessary to implement the provisions of this Ordinance.