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Resolution authorizing the Mayor to enter into an agreement with the Stadium Authority of the City of Pittsburgh pursuant to which a fifteen year agreement for an extension can be undertaken in accordance with the Public Auditorium Authority Law, Act of July 29, 1953, re-codified and continued by the Sports and Exhibition Authority Act (16 P.S. §5501-A, et seq.); to extend the term of existence of the Stadium Authority of the City of Pittsburgh until December 31, 2028.
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WHEREAS, a Certificate of Incorporation was issued to the Stadium Authority of the City of Pittsburgh by the Secretary of the Commonwealth of Pennsylvania under the provisions of the Public Auditorium Authority Law, Act of July 29, 1953, re-codified and continued by the Sports and Exhibition Authority Act (16 P.S. §5501-A, et seq.);
WHEREAS, the term of existence of the Stadium Authority of the City of Pittsburgh will expire on March 9, 2014; and
WHEREAS, it is the desire of Council of the City of Pittsburgh that the life of the Stadium Authority of the City of Pittsburgh be extended.
Be it resolved by the Council of the City of Pittsburgh as follows:
Section 1. Pursuant to the provisions of the Sports and Exhibition Authority Act (16 P.S. §5501-A, et seq.), the Council of Pittsburgh hereby adopts an amendment to the Articles of Incorporation of the Stadium Authority of the City of Pittsburgh by adding the following new article:
"The term of existence of the Stadium Authority of the City of Pittsburgh
shall be extended to December 31, 2028."
Section 2. The Mayor, the City Solicitor and the City Clerk are hereby authorized and directed to take any further steps required of the City of Pittsburgh to formalize the extension of the term of existence of the Stadium Authority of the City of Pittsburgh as provided in this resolution.