(a) Time.--When the petition and the final decree granting the petition have been recorded, the area shall become an incorporated borough and shall be entitled to the rights, privileges and immunities conferred under this part, except as provided under section 211 (relating to temporary preservation, organization and election of officers).
(b) Charter.--The final decree of the court granting the petition shall constitute the charter of the borough. All charters granted under this part shall include:
(1) The corporate name of the borough.
(2) The boundaries of the borough.