(a) The certificate of incorporation shall set forth:
(1) The names and residences of the applicants together with a recital that each of them is an elector of and taxpayer in the municipality;
(2) The name of the board which shall be The Industrial Development Board of the _____ of _____ (the blank spaces to be filled in with the name of the municipality, including the proper designation thereof as a city or town) if such name shall be available for use by the board and if not available then the incorporators shall designate some other similar name that is available;
(3) A recital that permission to organize the board had been granted by resolution duly adopted by the governing body of the municipality and the date of the adoption of such resolution;
(4) The location of the principal office of the board (which shall be in the municipality);
(5) The purposes for which the board is proposed to be organized;
(6) The number of directors of the board;
(7) The period, if any, for the duration of the board; and
(8) Any other matter which the applicants may choose to insert therein which shall not be inconsistent with this division or with the laws of the State of Alabama.
(b) The certificate of incorporation shall be subscribed and acknowledged by each of the applicants before an officer authorized by the laws of Alabama to take acknowledgments to deeds.