HomeMy WebLinkAbout4162_CCv0001.pdf RESOLUTION NO. 4162
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF REDLANDS DECLARING THE CITY
COUNCIL TO BE THE BOARD OF DIRECTORS OF
THE INDUSTRIAL DEVELOPMENT AUTHORITY OF
THE CITY OF REDLANDS AND ESTABLISHING
FEES AND PROCEDURES FOR THE ADMINISTRA-
TIVE PROCESSING OF APPLICATIONS
WHEREAS, the City of Redlands (the "City" ) has
found that the Industrial Development Authority of the City
of Redlands ( the "Authority" ) was needed and has further
declared by ordinance the Authority to be functioning and
organized in accordance with and for the purposes set forth
in the California Industrial Development Financing Act,
being Title 10, commencing with Section 91500 of the
Government Code of the State of California ( the "Act" ) ; and
WHEREAS, Section 91523 of the Act provides that the
City Council may, at its sole discretion, declare itself to
be the Board of Directors of the Authority.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF REDLANDS AS FOLLOWS:.
Section 1 . Board of Directors . This City Council
i•s declared to be the Board of Directors of the Authority
unless and until changed in accordance with provisions of
the Act .
Section 2 . Expenses. The Board of Directors shall
be reimbursed for actual and necessary expenses incurred in
the performance of their duties .
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Section 3 . Administration Fees and Procedures . A
fee shall be assessed in connection with the processing of
applications submitted to the Authority, which fee shall be
in the amount of one-fourth of one percent of the maximum
amount of bonds requested to be issued, but not less than
$1, 250 .00, which fee shall be collected as follows: ( i )
$1, 250 .00 upon submission of an application to the
Authority; ( ii ) 1/8 of 1% (less fees previously paid) upon
approval of the application by the City Council of the City
of Redlands and ( iii ) 1/4 of 1% ( less fees previously paid)
upon issuance of bonds by the Authority for the involved
project . The forms of the procedures and application form
submitted to this meeting , together with such changes
thereto as may be made from time to time by staff, are
hereby approved for use by the Authority in connection with
the processing of applications submitted to the Authority.
Section 4. Effective Date. This resolution shall be
in force and take effect concurrently with Ordinance
No. 1955.
ADOPTED this 20th day of May, 1986 .
Mayor of the City of Redlands
ATTEST:
City C erk
Resolution No. 4162
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