§ 28-2. PURPOSE. [Ord. 87-11, S1]

It is hereby found and declared, pursuant to Section 91520 of the California Industrial Development Act (hereinafter, the "Act"), that there is a need for the industrial development authority of the city of Firebaugh created by said Section 91520 and that such authority shall function in the city, and said authority is hereby authorized to transact business and to exercise all powers permitted by law. The authority established in the city by the Act and authorized to transact business and exercise its powers thereunder by this article shall be known as the "Industrial Development Authority of the City of Firebaugh".