This subchapter shall become effective, within the boundaries of the borough, immediately upon adoption in accordance with the provisions of the Act and shall automatically expire and terminate five years following the effective date hereof; provided, however, that any person, association, or corporation who has applied for the exemption prior to said expiration date shall be entitled to a full five-year exemption if the application otherwise qualifies.
(Ord. 04-01, passed 8-6-2001)