HomeMy WebLinkAboutORD 834ORD 834 ̤<žj h£ŸjH Ò ï ORDINANCE NO. 834
AN ORDINANCE OF THE CITY COUNCIL
OF THE CITY OF BALDWIN PARK ADDING
SECTION 2160 TO THE BALDWIN PARK
MUNICIPAL CODE. ESTABLISHING THE
INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF BALDWIN PARK
THE CITY COUNCIL OF THE CITY OF BALDWIN PARK DOES ORDAIN AS
FOLLOWS:
SECTION 1. Purposes. The California Industrial Development
Financing Act, Title 10 commencing with Section 91500), Government Code
the Act"), has established an industrial development authority of this
City for the achievement of specified public purposes. The public purposes
are to increase opportunities for useful employment or otherwise contribute
to economic development. The need for the establishment of of an industrial
development authority in the achievement of such purposes is based upon
findings that industry requires the new and alternative method of capital
finance that such authorities can provide in order for it to undertake the
acquisition, construction or rehabilitation of facilities the use of which
will serve those public purposes.
SECTION 2. Findings. There is a need in the City of Baldwin Park
for the acquisition, construction or rehabilitation of facilities for the
use of industry which will increase employment opportunities or otherwise
contribute to economic development, and further, the new and alternative
method of capital finance that industrial development authorities can
provide will aid in satisfying that need.
SECTION 3. Declarations. Chapter 2.6 is hereby added to
Article II of the Baldwin Park Municipal Code, consisting of Section 2160
to read as follows:
Chapter 2.6 INDUSTRIAL DEVELOPMENT AUTHORITY"
2160. INDUSTRIAL DEVELOPMENT AUTHORITY. That, there being
a need in the City of Baldwin Park for an industrial development
authority to provide industry with an alternative and additional
method of finance in accordance with state policy as set forth
in the California Industrial Development Financing Act, Title 10
commencing with Section 91500), Government Code, the Industrial
Development Authority of this City established by the Act is
hereby declared organized and shall function under the name
INDUSTRIAL DEVELOPMENT AUTHORITY OF THE
CITY OF BALDWIN PARK
and be authorized to transact business and exercise all powers
and other authority conferred upon industrial development
authorities by such Act."
SECTION 4. That the City Clerk shall certify to the adoption of
this Ordinance and cause the same to be published in the manner prescribed
by law.
PASSED and ADOPTED this l7th day of/ebruary 1982.
GAIR.Cm CLERK
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ORD 834 ̤<žj h£ŸjH Ò ï Ordinance No. 834
Page 2
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES) SS:
CITY OF BALDWIN PARK
I, LINDA L. GAIR, City Clerk of the City of Baldwin Park, do
hereby certify that the foregoing Ordinance No. was regularly introduced
and placed upon its first reading at a regular meeting of the City Council
on the 3rd day of February 1982. That, thereafter, said Ordinance was
duly passed and adopted at a regular meeting of the City Council on the
17th day of February 1982, by the following vote:
AYES: COUNCILMEN HOLMAN, AGUIIAR, McNEILL, KING AND MAYOR WHITE______
NOES: COUNCILMEN NONE_________________
ABSENT: COUNCILMEN NONE
GAIR,&TTY CLERK
BIB]
37960-U01
ORD-U02
834-U02
LI2-U03
FO4404-U03
FO32708-U03
DO32712-U03
C5-U03
ORDINANCES-U03
12/4/2003-U04
ROBIN-U04