(A) (1) The Mayor is hereby authorized and directed to participate in the establishment, incorporation and organization of a non-profit charitable corporation, to be known as the Barberton Community Foundation, through execution of the articles of incorporation of the Barberton Community Foundation, substantially in the form on file with the Clerk of Council, with such changes, if any, as may be necessary or appropriate to achieve tax-exempt status for the Foundation as other than a private foundation or to comply with applicable laws or otherwise, and as are determined by the Mayor to be not inconsistent with this chapter and not substantially adverse to the city.
(2) The execution of those articles of incorporation by the Mayor shall conclusively evidence his or her determination that any changes are not inconsistent with this chapter and are not substantially adverse to the city.
(B) The purpose of the Foundation is to receive the proceeds from the sale of Barberton Citizens Hospital that remain after payment of certain liabilities and to use such proceeds for charitable, educational, public health, public recreation or other public purposes benefitting the citizens of Barberton.
(Prior Code, § 277.01) (Ord. 138-1996, passed 7-22-1996)