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Resolution approving an Amendment to the Articles of Incorporation of the Allegheny County Sanitation Authority to extend its term of existence to a date that is fifty (50) years from the date of the approval of the Amendment to Articles of Incorporation by the Secretary of the Commonwealth of Pennsylvania.
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WHEREAS, the Allegheny County Sanitation Authority (the "Authority") is an authority that was jointly created by the City of Pittsburgh (the "City") and Allegheny County (the "County") in 1946 pursuant to the Pennsylvania Municipal Authorities Act, 53 Pa C.S.A. § 5601 et seq., as amended (the "Act"); and
WHEREAS, pursuant to 53 Pa.C.S.A. § 5605(a)(2), an authority created under the Act may amend its Articles of Incorporation from time to time to increase its term of existence to a date not exceeding (50) years from the date of approval of the articles of amendment by the Secretary of the Commonwealth; and
WHEREAS, the Authority's existence is currently scheduled to expire on May 10, 2039; and
WHEREAS, the Authority has, by Resolution of its Board duly adopted on May 20 2010, approved an Amendment of its Articles of Incorporation (the "Amendment") to extend its term of existence in order to ensure that such term covers the duration of certain bond or other obligations to be issued in 2010 and beyond; and
WHEREAS, Section 5605(b) of the Act also requires the approval of the Amendment by both the County and the City; and
WHEREAS, the Allegheny County Council has already passed a resolution approving the proposed Amendment on behalf of the County (attached hereto as Exhibit A.)
NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF PITTSBURGH AS FOLLOWS:
Section 1. The above recitals are incorporated herein by reference.
Section 2. The Articles of Incorporation of the Allegheny County Sanitation Authority are amended to delete existing paragraph (f) and to add a new paragraph (f) to such Articles of Incorporation, which shall read in full as follows:
(f) The term of existence of the Authority is increased to a date fifty (50) years from the date of the approval of these Articles of Amendment."
Section 3. The Authority shall comply with the requirements of law regarding execution of the Articles of Amendment and the advertisement and filing thereof with the Secretary of the Commonwealth of Pennsylvania, all in accordance with the provisions of the Act.