Chapter 2.44 — INDUSTRIAL DEVELOPMENT AGENCY

The city council hereby finds and declares that there is a need for an industrial development authority to be created and to function within the city, pursuant to the Act (the California Industrial Development Financing Act, Government Code Section 91500, et seq.). (Ord. 434 § 1, 1986)

The city council hereby establishes the Cotati industrial development authority, a public, corporate instrumentality of the state, which shall be authorized to transact business and exercise its powers as provided in the Act.

(Ord. 434 § 2, 1986)

The city council, or the authority, as appropriate, may, on or after the date of final adoption of the ordinance codified in this chapter, approve by resolution any and all other actions and matters necessary for the authority to transact business and exercise its powers, including, but not limited to, the appointment of a board of directors, as provided by the Act. (Ord. 434 § 3, 1986)