incurred any other debts or contractual obligations, or has paid
and has been released from and discharged of all debts and
bonded, contractual and other obligations, the governing body of
the [city] municipality may, after three years from the date of
the certificate described in subsection (c) of section 4, or
earlier if a proper resolution of the authority requests the
action hereinafter described, find and declare by proper
resolution that its functions can be more properly carried out
by a county authority and that there is no longer any need for
the authority created for [such city] the municipality to
function. In such case the governing body shall issue a
certificate reciting the adoption of such resolution, and shall
cause such certificate to be filed with the Department of State
and two duplicates thereof with the Department of Community
[Affairs] and Economic Development. Upon such filing the [city]
authority shall cease to function, and title to any assets held
by the authority at that time shall pass to the [city]
municipality. A copy of the certificate described in this
section shall be admissible in any suit, action or proceeding
and shall be conclusive proof that the authority has ceased to
be in existence.
Section 4.2. Dissolution of County Authorities.--If a county
authority has never issued any bonds, or incurred any other
debts or contractual obligations, or has paid and has been
released from and discharged of all debts and bonded,
contractual and other obligations, the governing body of the
county may, after three years from the date of the certificate
described in subsection (c) of section 4, or earlier if a proper
resolution of the authority requests the action hereinafter
described, find and declare by proper resolution that there is
no longer any need for the authority created for such county to
function. In such case the governing body shall issue a
certificate reciting the adoption of such resolution, and shall
cause such certificate to be filed with the Department of State
and two duplicates thereof with the Department of Community
[Affairs] and Economic Development. Upon such filing the county
authority shall cease to function, and title to any assets held
by the authority at that time shall pass to the county. A copy
of the certificate described in this section shall be admissible
in any suit, action or proceeding and shall be conclusive proof
that the authority has ceased to be in existence.
Section 5. Appointment and Qualifications of Members of
Authority.--Upon certification of a resolution declaring the
need for an Authority to operate in a [city] municipality or
county, [the mayor or board of county commissioners thereof,
respectively,] the governing body shall appoint, as members of
the Authority, five citizens who, except in the case of cities
of the third class, shall be residents of the [city]
municipality or county in which the Authority is to operate. In
the case of a city of the third class, a majority of the members
of the Authority shall be residents of the city, and the
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