El Monte Municipal Code Ch. 2.40 Industrial Development Authority

The City Council finds and declares that there is a need for an industrial development authority to function in the city.

(Ord. 2387 § 1, 1993)

The City Council 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 shall be vested in this City Council as such Board.

(Ord. 2387 § 2, 1993)

Declarations set forth in this chapter are made in accordance with the California Industrial Development Financing Act (Title 10, commencing with Section 91500, of the Government Code).

(Amended during 1999 recodification; Ord. 2387 § 3, 1993)

The authority established in the city by the Act referred to a Section 2.40.030 and authorized to transact business and exercise its powers thereunder by this chapter shall be known as the "Industrial Development Authority of the City of El Monte."

(Ord. 2387 § 4, 1993)

The Industrial Development Authority of the city was established pursuant to Ordinance 2387 adopted on November 9, 1993. It is the intent of the City Council in adopting the ordinance codified in this chapter that the provisions hereof be deemed a codification of the provisions of Ordinance 2387 shall not constitute a new enactment, rather a codification of the division of said ordinance, in this code for the convenience of the public.

(Amended during 1999 recodification)