HomeMy WebLinkAboutOrdinance No. 2150 ORDINANCE 2150
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
AZUSA DECLARING NEED FOR THE INDUSTRIAL DEVELOPMENT
AUTHORITY OF THE CITY OF AZUSA AND THAT SUCH
AUTHORITY SHALL FUNCTION
THE CITY COUNCIL OF THE CITY OF AZUSA 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 this City for the achieve-
ment of specified public purposes. The public purposes are
the increasing of opportunities for useful employment or other-
wise contributing 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 theuse
of which will serve those public purposes.
SECTION 2. Findings. There is a need in the City of
Azusa for the acquisition, construction or rehabilitation of
facilities for the use of industry which will increase employ-
ment opportunities or otherwise contribute to economic develop-
ment, 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 Azusa
for an industrial development authority to provide industry
with an alternative and additional method of finance in accord-
ance 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 AZUSA and be authorized to transact
business and exercise all of the powers and other authority con-
ferred upon industrial development authorities by such Act.
SECTION 4. The City Clerk shall certify to the passage
of this Ordinance and shall cause the same to be published as
required by law.
PASSED AND APPROVED this 15 day of November , 1982.
.7/20424.
,Q/Yl t
MAYOR
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SS.
CITY OF AZUSA )
I ADOLPH SOLIS, City Clerk of the City of Azusa,
do hereby certify that the foregoing Ordinance No. 2150
was regularly introduced and placed upon its first reading
at a regular meeting of the City Council on the lst day of
November , 1982. That thereafter, said Ordinance was
duly adopted and passed at a regular meeting of the
City Council on the 15 day of November , 1982 , by the
following vote to wit:
AYES: COUNCILMEMBERS DECKER, HART, LATTA, MOSES
NOES: COUNCILMEMBERS NONE
ABSENT: COUNCILMEMBERS NONE
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CITY CL1K
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