Hemet Municipal Code Div. 2 Industrial Development Authority

Footnotes:

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Cross reference— Planning and development, ch. 58.

The city council finds that:

(1) There exist within the city economically distressed areas which may be benefitted by efforts to prevent the loss of existing jobs and to create new jobs;

(2) In the interest of the health, welfare and safety of the people of the city 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 the city and to increase employment opportunities and otherwise contribute to the economic development of the city;

(3) The California Industrial Development Financing Act, Government Code § 91500 et seq. (referred to in this division as "the act"), has created in the city a public, corporate instrumentality of the state known as the Industrial Development Authority of the City of Hemet, for the purpose of exercising powers granted by the act; and

(4) Government Code § 91520 provides that the authority shall not transact any business or exercise any powers under the act unless, by ordinance, this city council declares that there is a need for such authority and that the authority shall function.

(Ord. No. 1018; Code 1984, § 2850)

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

(Ord. No. 1018; Code 1984, § 2851)

Pursuant to Government Code § 91520(b), this division is subject to the provisions for referendum set forth in Elections Code §§ 4051—4058.

(Ord. No. 1018; Code 1984, § 2852)