Chapter 2.34


2.34.010    Need declared.

2.34.020    Board of Directors designated.

2.34.030    Ordinance subject to referendum provisions.

2.34.010 Need declared.

It is found and declared that there is a need for the Industrial Development Authority of the City created by Section 91520 of the Act, and that such authority shall function in the City, and said authority is authorized to transact business and to exercise all powers permitted by law. [Ord. 665 § 1, 1982].

2.34.020 Board of Directors designated.

The City Council further declares itself to be the Board of Directors of such Industrial Development Authority, and all the rights, powers, privileges, duties, liabilities, disabilities and immunities vested in such a board under the Act shall be vested in the City Council as such board. [Ord. 665 § 2, 1982].

2.34.030 Ordinance subject to referendum provisions.

Pursuant to Section 91520(b) of the Act, the ordinance codified in this chapter is subject to the provisions for referendum set forth in Sections 4051 through 4059 of the California Elections Code. [Ord. 665 § 3, 1982].