Gilroy Municipal Code Div. 1 Generally

This article shall be cited and referred to as the “Economic Development Financing Law” of the city.

(Ord. No. 82-10, § 1, 4-5-1982)

(a) It is the purpose of this article to provide industry and commerce with an alternative method of financing in acquiring, constructing or rehabilitating facilities which will increase employment opportunities for the inhabitants of or otherwise contribute to the economic development of the city.

(b) It is the policy of the city, consistent with environmental, resource conservation and other policies, to facilitate for and on behalf of private enterprise the acquisition of property either suitable for or evidencing an obligation respecting industrial, commercial or other business activities or uses, through the issuance by the city of revenue bonds in accordance with the criteria set forth in subsection (c), and it is hereby declared that such additional method of financing, when made available in accordance with such policy, serves a public purpose and municipal affair of the city and will promote the prosperity, health, safety, and welfare of the city and its inhabitants.

(c)

(1) The criteria to be utilized to determine whether such method of financing may be made available shall include the following:

a. Whether employment benefits arising out of the facilities may ensue by securing or increasing (i) the number of employees of the company and any other direct users of the facilities or (ii) compensation for such employment, the value of which may be expressed in terms of aggregate direct employment earnings.

b. Whether energy, mineral or natural or cultivated resource conservation benefits arising out of the use of the facilities may ensue by the reduction of waste, improvement or recovery or intensification of utilization of resources that otherwise would be less intensively utilized, or wasted, or not recovered, the value of which may be expressed in terms of the price and amount of the energy, minerals, or other resources saved or recovered, or the price and amount of equivalent energy, minerals or other resources which would be utilized were the resources not utilized as intensively.

c. Whether consumer benefits arising out of the use of the facilities may ensue by (i) improvement of the quantity or quality or reduction in the price of products, energy, or related services or facilities, the value of which may be expressed in terms of quantity and price differentials; and (ii) production of new or improved products, or related services or facilities, the value of which may be expressed in terms of quantity and price.

(2) The criterion to be utilized to determine whether such method of financing may not be made available is whether or not the making of it available would be in violation of the constitution and laws of the state or of the United States.

(Ord. No. 82-10, § 1, 4-5-1982)

Unless the context otherwise requires, the definitions of Government Code Section 91504 [except subdivisions (c), (d), (i), (j), (p) and (r)] of the Act and the following definitions shall apply and shall govern the construction of this article, inclusive of the provisions incorporated by reference by section 8A.24.

“Act”

means the California Industrial Development Financing Act (Title 10 (commencing with Section 91500), Government Code).

“Article”

means this Article I of Chapter 8A of the Code.

“Authority”

means the city acting by the council exercising the powers prescribed for authorities pursuant to this article.

“Board”

means the council exercising the powers prescribed for boards of directors of authorities pursuant to this article.

“Division”

means Division 2 of Article I of Chapter 8A of the Code.

“Facilities”

means property suitable for industrial, commercial or other business activities or uses, including, without limitation, any activities or uses property suitable for or evidencing an obligation respecting which may be acquired for and on behalf of private enterprise pursuant to the Act, to the full extent permitted by the constitution and laws of the state.

“Governing body”

means the council exercising the powers prescribed for governing bodies of public agencies pursuant to this article.

“Public agency”

means the city acting by the council exercising the powers prescribed for public agencies pursuant to this article.

(Ord. No. 82-10, § 1, 4-5-1982)

§ 8A.4. through § 8A.9. (Reserved)