Chapter 4.90

INDUSTRIAL DEVELOPMENT AUTHORITY

Sections:

• 4.90.010 Purpose.

• 4.90.020 Name of authority.

• 4.90.030 Need for authority and declaration that authority shall function.

It is the purpose of this chapter to implement the provisions of the California Industrial Develop-

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SAN JOSÉ CODE

§ 4.90.010

ment Financing Act (Sections 91500 and following, California Government Code), as amended from time to time (hereafter referred to as "the Act"). (Ord. 20858.)

The industrial development authority hereby established pursuant to the act shall be known as the industrial development authority of the City of San José.

(Ord. 20858.)

Pursuant to Section 91520(b) of the act, the city council of the City of San José has determined and declares that there is a need for the authority to function to accomplish the public purposes prescribed by the act, and therefore the authority shall function, transact business and exercise its prescribed powers as provided by the act. (Ord. 20858.)

wholly or in part said facility with general fund monies, redevelopment fund monies, bonds, loans, special assessments or any other indebtedness guaranteed by city property, taxing authority or revenues.

Nothing herein shall be construed to limit the city from allowing the construction of a sports facility funded by private investment.

If any provision of this chapter or the application thereof to any person or circumstance is held invalid, then the remainder of this chapter and application to other persons or circumstances shall not be affected thereby.

(Ord. 22754.)

Section 4.95.010 was adopted as an initiative ordinance pursuant to city Charter Section 1603 and may be repealed or amended only by a vote of the people of the City of San José. (Ord. 22754.)