Consider for adoption a resolution authorizing the Ardmore Municipal District Authority known as the Ardmore Initiative (AI) to amend their Articles of Incorporation changing the number of board members.

RESOLUTION

WHEREAS, Under the Municipality Authorities Act of 1945 P.L.,382, as amended, the Township of Lower Merion authorized the organization of the Ardmore 2000 Municipal Business District Authority, also known as the Ardmore Initiative; and

WHEREAS, the original Articles of Incorporation of the Authority designated seventeen persons as the initial Board of Directors, without designating a required number thereof; and

WHEREAS, following its incorporation the Authority approved By-laws which set the number of members of its Board of Directors at no less than eleven (11) nor more than seventeen (17) persons as determined by the Board of Directors with the approval of the Board of Commissioners; and

WHEREAS, The Authority has requested approval of an amendment to its By-laws to provide for a Board of Directors of no less than nine (9) nor more than fifteen (15) persons; and

WHEREAS, the Board of Commissioners concerns with the Authority that a reduction in the required number of members of its Board of Directors will improve the efficiency of the Authority.

NOW THEREFORE BE IT RESOLVED by the Board of Commissioners of the Township of Lower Merion that Article IV, section 4.02 of the Board of Directors of the Ardmore Business District Authority be amended to provide as follows: 

Article IV.  Directors

Section 4.02.  Number, Term and Classification of Directors.

The Authority shall be governed by a Board of Directors (“the Board”) consisting of not more than fifteen (15) nor less than nine (9) Directors, the number to be as initially established by the Articles of Incorporation and thereafter determined by resolution of the Board.  The then-acting Solicitor for the Authority and three members of the Board of Commissioners of the Township of Lower Merion shall act as ex-officio members of the Board, not entitled to vote. All Directors shall hold office until their successors have been appointed. Their terms are to be for five (5) years.

The Ardmore 2000 Municipal Business District Authority is authorized to take such action as may be necessary to act on this approval.