HomeMy WebLinkAboutOrdinances_1955_CCv0001.pdf ORDINANCE NO. 1555
AN ORDINANCE DECLARING THE NEED IN THE
CITY OF REDLANDS FOR AN INDUSTRIAL
DEVELOPMENT AUTHORITY AND ESTABLISHING
SUCH AN AUTHORITY
WHEREAS, industry in the City of Redlands ( the
"City" ) needs and requires new methods to finance the
capital outlays required to acquire, construct or
rehabilitate facilities which will increase employment
opportunities or otherwise contribute to economic
development in the City; and
WHEREAS, the California Industrial Development
Financing Act , being Title 10 of the Government Code of the
State of California, commencing with Section 91500 ( the
"Act" ) , provides an alternate method of financing to promote
and enhance economic development and to increase oppor-
tunities for useful employment by establishing an industrial
development authority of the City (the "Authority" ) ; and
WHEREAS, the Act provides that the Authority is to
facilitate, for and on behalf of private enterprise, the
acquisition of property for purposes as set forth in the Act
through the issuance of revenue bonds , all under and in
accordance with provisions of the Act; and
WHEREAS, Section 91503 of the Act provides that the
activities or uses for which property acquired pursuant to
provisions of the Act shall be suitable are industrial uses
including , without limitation, assemblying, fabricating,
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Section 2 . Need for an Authority. The City
Council further finds and declares that there is a need for
an industrial development authority of the City in order to
assist in providing industry in the City with an alternative
method of financing in acquiring` constructing or rehabili-
tating facilities in accordance with provisions of the Act .
Section 3 . Establishment of Authority. The
industrial development authority of the City established by
the Act is hereby declared organized under the name of
"industrial Development Authority of the City of Redlands"
and shall function under and in accordance with provisions
of the Act .
Section 4 . Construction. The provisions of this
Ordinance, being necessary for the welfare of the City and
its inhabitants , shall be liberally construed to effect its
pu pcses .
Section 5 . Notice and Effective Date . The Mayor
shad sign. this Ordinance and the City Clerk shall attest
thereto and shall cause the same or summary thereof within
15 days of its adoption to be published once in a newspaper
published and circulated in the City, and thereafter this
Ordinance shall take effect and be in force according to
law.
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I , LORRIE POYZER, City Clerk of the City of
Redlands, California , do hereby certify that the foregoing
Ordinance was regularly introduced at a regular meeting of
the City Council of the City of Redlands duly held on
the 20th day of May , 1986, and thereafter at a regular
meeting of said City Council , duly held on the 3rd day
of June , 1986 , it was duly passed and adopted by the
following vote of the Council :
AYES: Councilmembers Larsen, Johnson; Mayor Beswick
NOES : Councilmember DeMirjyn
ABSENT: Councilmember Wormser
ABSTAINED: None
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the official seal of the City of Redlands,
California, this 3rd day of June 1986 .
ORRIE POYZ
CitylClerk he City
ofledlands , California
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