HomeMy WebLinkAboutCC ORD 1985-1859 DECLARING NEED FOR THE INDUSTRIAL DEVELOPMENT AUTHORITY AND THAT SUCH AUTHORITY SHALL FUNCTIONORDINANCE NO, 1859
AN ORDINANCE DECLARING NEED FOR THE INDUSTRIAL
DEVELOPMENT AUTHORITY OF THE CITY OF
NATIONAL CITY AND THAT SUCH AUTHORITY SHALL FUNCTION
The City Council of the City of National City does ordain as follows:
SECTION 1. PURPOSES. The California Industrial Development
Financing Act, Title 10 (commencing with Section 91500), Government Code (the
"Act"), has established an industrial development authority of the City for the
achievement of specified public purposes. The public purposes are to increase
opportunities for useful employment or otherwise contribute to economic
development. The need for the establishment of an industrial development
authority in the achievement of such purposes is based upon findings that
industry requires the new and alternative method of capital finance that such
authorities can provide in order for it to undertake the acquisition, construction
or rehabilitation of facilities the use of which will serve those public purposes.
SECTION 2. FINDINGS. There is a need in the City of National City
for the acquisition, construction or rehabilitation of facilities for the use of
industry which will increase employment opportunities or otherwise contribute to
economic development, and further, the new and alternative method of capital
finance that industrial development authorities can provide will aid in satisfying
that need.
SECTION 3. DECLARATIONS. (a) Need. There is a need in the
City of National City for an industrial development authority to provide industry
with an alternative and additional method of finance in accordance with state
policy as set forth in the Act.
(b) Organization. The industrial development authority of this City
established by the Act is hereby declared organized and shall function under the
name "Industrial Development Authority of the City of National City," and be
authorized to transact business and exercise all of the powers and other
authority conferred upon industrial development authorities by such Act.
SECTION 4. FILING. The City
certified copy of this ordinance to be filed
State.
SECTION 5. EFFECTIVE DATE.
and be in full force and operation from and
passage and adoption.
PASSED and ADOPTED this
ATTEST:
Ion,` Campbell, City Ck
APPROVED AS TO FORM:
41/i
George H. iser, III - City Attorney
Clerk is hereby directed to cause a
in the Office of the Secretary of
This ordinance shall go into effect
after thirty (30) days after its final
16th day of
July , 1985.
Kile Morgan ay
Passed and adopted by the Council of the City of National City, California,
on July 16, 1985 by the following vote, to -wit:
Ayes: Councilmen
Nays: Councilmen
Absent: Councilmen
Abstain: Councilmen
Cooper, Dalla, Van Deyenter, Waters, Morgan
None
None
None
AUTHENTICATED BY: KILE MORGAN
Mayor of the City of National City, California
City Cler of the City of National
........
y, California
By:
Deputy
I HEREBY CERTIFY that the foregoing ordinance was not finally adopted
until seven calendar days had elapsed between the days of its introduction
and the days of its final passage, to wit, on aulY 9, 1935
and on July 16, 1985
I FURTHER CERTIFY THAT said ordinance was read in full prior to its
final passage or that the reading of said ordinance in full was dispensed
with by a vote of not less than a majority of the members elected to the
Council and that there was available for the consideration of each mem-
ber of the Council and the public prior to the day of its passage a written
or printed copy of said ordinance.
I FURTHER CERTIFY that the above and foregoing is a full, true and cor-
rect copy of ORDINANCE NO. . .59.. of the City of National City, passed
and adopted by the Council of said City on July 16,
(Seal)
City Clerk of the City of National City, California
By:
Deputy