Long Beach Municipal Code Ch. 2.46 Industrial Development Authority

In accordance with the California Industrial Development Financing Act (Title 10, commencing with Section 91500, of the Government Code of the State of California), hereinafter referred to as the Act, the City Council finds and declares that there is a need for an industrial development authority to function in the City.

(Ord. C-5747 § 1, 1981)

The City Council further declares that an industrial development authority shall function in the City in accomplishment of the purposes provided in the Act, and to carry out and complete projects and perform and exercise derivative obligations and powers as set forth in the Act.

(Ord. C-5747 § 2, 1981)

The City Council further 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 under the Act shall be vested in the City Council as such Board.

(Ord. C-5747 § 3, 1981)

The Economic Development Commission of the City is designated as advisory body to the industrial development authority of the City and shall perform such functions relating thereto as may, from time to time, be assigned by the City Council.

(Ord. C-5747 § 4, 1981)

The authority established in the City by the Act 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 Long Beach."

(Ord. C-5747 § 5, 1981)

Nothing contained in this Chapter nor any part or provision hereof, including but not limited to the establishment of the industrial development authority of the City, shall be construed to in any way limit the authority of the City, as a Chartered City of the State of California, to undertake any and all activities of which it is capable through the exercise of its Charter powers.

(Ord. C-5747 § 6, 1981)