Contra Costa County Municipal Code Ch. 30-2 Industrial Development Authority

There exists within the county economically distressed areas which may be benefited by efforts to prevent the loss of existing jobs and to create new jobs. In the interest of the health, welfare and safety of the people of this county and of the state, it is necessary to provide an alternative method of financing certain facilities in order to prevent the loss of existing jobs in such county and to increase employment opportunities and otherwise contribute to the economic development of this county.

(Ord. 81-78 § 1)

The California Industrial Development Financing Act, California Government Code Sections 91500, et seq. (the "Act"), has created in the county a public, corporate instrumentality of the state of California known as the industrial development authority of the county of Contra Costa, for the purpose of exercising powers granted by the Act. Section 91520 provides that said authority shall not transact any business or exercise any powers under the Act unless, by ordinance, this board of supervisors declares that there is a need for such authority and that the authority shall function.

(Ord. 81-78 § 1)

It is hereby found and declared that there is a need for the industrial development authority of the county of Contra Costa created by Government Code Section 91520 and that this authority shall function in the county, and this authority is hereby authorized to transact business and to exercise all powers permitted by law.

(Ord. 81-78 § 1)

Pursuant to Government Code Section 91520 (b)" the ordinance codified in this chapter is subject to the referendum provisions of Elections Code Sections 4051 through 4058.

(Ord. 81-78 § 1)