Needles Municipal Code Art. 6B I Findings and Definitions

6B-1 Title 6B-2 Findings 6B-3 Definitions 6B-4 (Reserved) 6B-5 (Reserved)

6B-1 Title

This division of Chapter 6B may be cited as the City of Needles Economic Development Revenue Bond Law. (Ord. No. 242-AC, § 1 (part).)

6B-2 Findings

1. It is necessary and essential to the well-being of the city that it provide financial assistance to promote the economic development of the city and the resultant creation of employment opportunities for residents of the city.
2. A key component in the city’s plan to revitalize the community is the expansion of the city’s commercial and industrial base.
3. The availability of the financial assistance authorized by this chapter will serve the legitimate public purposes and municipal affairs of the city, and the general plan of the city, by providing private enterprise with new methods of financing capital outlays that are beneficial to the city and its residents and by ensuring that economic development within the city (1) will reflect the community’s needs and objectives, and (2) will be environmentally optimum with respect to both the physical and social environment of the city.
4. The city can attract new beneficial private enterprise to the area and assist businesses currently in the area by issuing its revenue bonds to provide financing and refinancing for such enterprises.
5. Economic development within the city will serve the following public purposes and municipal affairs of the city: 1. The full and gainful employment of residents of the city;
   2. The full and efficient utilization and modernization of existing industrial, commercial and business facilities;
   3. The development of new industrial, commercial and business facilities;
   4. The growth of the city’s tax base through increased property values and consumer purchasing; 5. The reduction of the need for the costs of welfare and other remedial programs;

6. The reduction of urban ills such as crime attributable in part to inadequate economic opportunities; 7. The stability and diversification of the city’s economy; 8. The lowering of the costs to city consumers of necessary goods and services; 9. The environmentally optimum disposition of the resources and waste materials of the city; and 10. The enhancement of the general economic prosperity, and the health, safety and welfare of the residents of the city.
   6. The utilization of local resources in stimulating the resurgence of private investment, and in promoting the growth and retention of employment opportunities within the city is of peculiar and unique concern to the city.
   7. The city can promote the public interest pursuant to this law without adversely affecting areas outside the city and without conflict with efforts by the state to solve problems of statewide concern. Encouraging industrial and commercial development pursuant to chapter 6B promotes the public health, safety and welfare, and will improve the social, moral, economic and physical condition of the community; and (2) constitutes a municipal affair of the city, a valid exercise of the police powers of the city and a public purpose in which the city has a peculiar and unique interests. (Ord. No. 242-AC, § 1 (part).)

6B-3 Definitions

Unless the context otherwise requires, the terms defined in this section shall have the following meanings:

1. “Bonds” means and includes the bonds, refunding bonds, notes, bond anticipation notes, certificates, debentures and other obligations issued or entered into by the city pursuant to this chapter which bear interest exempt from federal income tax and which are payable as provided herein.

   2. “City” means the city of Needles, a California charter city organized and existing under the constitution of the state and the charter of the city.
   3. “Costs”, as applied to a project financed in whole or in part under the provisions of this chapter, means and includes any and all reasonable or necessary costs incurred by or on behalf of a participant to carry out all works and undertakings and to obtain all rights and powers necessary or incident to the acquisition, construction, installation, reconstruction, rehabilitation or improvement of a project. “Costs” may include but are not limited to all costs of issuance of bonds prior to, during and for a reasonable period following construction of a project; reserves for debt service and for repairs, replacements, additions and improvements to a project; and other working capital incident to the operation of a project. Costs may include amounts paid or to be paid to a participant in reimbursement of amounts previously paid or incurred by such participant for any of the items described above.
   4. “Participant” means an individual, association, corporation, partnership, or other entity, whether for profit or not, which is approved by the city to undertake the financing of the costs of a project for which this ordinance authorizes the issuance of bonds.
   5. "Project” means any structure or building or portion thereof (and the land on which the same is located) located within the city (except to the extent such project may lawfully be located outside the city), and all real and personal property, including operating equipment and machinery deemed useful in connection therewith, which shall be suitable for any of the following purposes: 1. Any undertaking involving the construction, reconstruction and use of airports, mass commuting facilities, off-street parking facilities, railroads, cable television or mass communication facilities and related facilities;

2. All or any part of any office building or buildings for the use of such tenant or tenants as may be determined or authorized by the council, including without limitations any industrial, commercial, financial, health or other service enterprise for any corporation or other enterprise now or hereafter organized; 3. Any facility in any manner related to or in furtherance of the educational purposes of an educational institution, including but not limited to classroom, laboratory, housing, administrative, physical, educational and medical research, service and treatment facilities; 4. Any facilities for any recreation or amusement park, public park or theme park; 5. Any commercial facilities constructed primarily for making wholesale or retail sales to the general public; 6. Any facilities incident to the development of industrial sites, including land costs and the costs of site improvements thereon, such as grading, streets, drainage, storm and sanitary sewers, and other facilities and structures incidental to the use of a site or sites for industrial or commercial use; 7. Any convention or trade show facilities, together with all related and subordinate facilities necessary to the development and proper utilization thereof; 8. Any facilities designed and constructed to be used as hotels and/or motels, together with all related and subordinate facilities necessary to the operation thereof, including site preparation and similar facilities; 9. Health or hospital related facilities; 10. Any sewage, solid waste disposal, air or water pollution control facilities, or facilities for the furnishing of water; and 11. Multifamily rental housing facilities.

   6. “Revenues” means, with respect to a project, the rents, fees, charges, interest, principal repayments, and other income received or to be received by the city from ay source on account of such project, and such other legally available moneys as the city council, in its discretion, may designate as revenues.
   7. “Rules and regulations” means the rules and regulations adopted by the city council pursuant to section 6B-15 hereof, as originally adopted or as amended or supplemented from time to time.
   8. “State” means the state of California. (Ord. No. 242-AC § 1 (part).)

6B-4 (Reserved)

6B-5 (Reserved)