HomeMy WebLinkAboutORD-04-97 Add Ch 2.52 Need for Industrial Development AuthorityORDINANCE NO. 4-
97
AN ORDINANCE OF THE CITY COUNCIL OF THE
CITY OF ORANGE DECLARING THE NEED IN
THE CITY OF ORANGE, CALIFORNIA FOR AN
INDUSTRIAL DEVELOPMENT AUTHORITY AND
ADDING CHAPTER 2.52 TO THE ORANGE
MUNICIPAL CODE ESTABLISHING SUCH AN
AUTHORITY
WHEREAS, industry in the City of Orange, California (the "City") needs and
requiTi~s 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 ] 0
of the Government Code of the State of California, commencing with Section 9]500 (the
Act"), provides an alternate method of financing to promote and enhance economic
development and to increase opportunities 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 th€~ Act shall be suitable are industrial
uses included, without limitation, assembling, fabricating, manufacturing or processing
activities, with respect to any products of agriculture, forestry, mining or manufacture; and
WHEREAS, Section 9]520(a) of the Act provides that the sole purpose of the
Authority is to undertake projects through the issuance of bonds and accomplishments of
the purposes provided in the Act and to carry out and ,complete such projects and perform
and exercise derivative obligations and powers; and
WHEREAS,
the Authority is not to transact any business or exercise any powers under
the Act unless, by ordinance, the City declares that there is a need for the Authority and
that the Authority will function and that such ordinance shall be subject to referendum in
the manner prescribed by law for ordinances of the City; and
WHEREAS, the City desires to establish the Authority for the purposes set forth
in the Act.
THE CITY COUNCIL OF THE CITY OF ORANGE, CALIFORNIA DOES
ORDAIN AS FOLLOWS:
SECTION L Chapter 2.52 is hereby added to the Orange Municipal Code to read
as follows:
Chapter 2.52
INDUSTRIAL DEVELOPMENT AUTHORITY
Sections:
2.52.010 Findings
2.52.020 Need for Authority
2.52.030 Establishment of Authority
2.52.010 Findings. The City Council hereby finds and declares that there exists in
the City a need to assist industry in the financing of capital outlays required to acquire,
construct or rehabilitate facilities in order to increase employment opportunities and to
contribute to economic development in the City.
2.52.020 Need for an Authority. The City Council further finds and declares that
theH: 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 rehabilitation facilities in accordance with provisions of the California
Industrial Development Financing Act, commencing with Section 91500 of the
Gov,emment Code (the "Act").
2.52.030 Establishment of Authority. The industrial development authority of the
City established by the Act is hereby declared organized under the name of "Industrial
Devdopment Authority of the City of Orange" and shall function under and in accordance
with provisions of the Act and further in accordance with applicable resolutions which the
City Council may adopt.
SECTION 2. The provisions of this Ordinance, being necessary for the welfare of
the City and its inhabitants, shall be liberally construed to effect its purposes.
Ordinance No. 4-
SECTION
3. The Mayor shall sign this Ordinance and the City Clerk shall attest thereto
and shall within 15 days of its adoption cause it or a summary thereof to be published
once in The Orange Independent, a newspaper published and circulated in said City,
and thereupon and thereafter this Ordinance shall take effect and be in force according
to law.ADOPTED
this ~day of.February 997.2
it. It~~<'YZ'Mayor
of the City of Orange AmST:
STATE
OF CALIFORNIA)COUNTY
OF ORANGE )CITY
OF ORANGE )L
CASSANDRA 1. CATHCART, City Clerk of the City of Orange, do hereby certify that the
foregoing Ordinance was introduced at a regular meeting of the City Council held on the ~
8tialay of January , ]997, and thereafter at the regular meeting of
said City Council duly held on the _xkI:yxlx& 11.th day of Februarv ]997, was duly
passed and adopted by the following vote, to wit:AYES:
NOES:
ABS]~
NT:ABSTAIN:
COUNCILMEMBERS:
MURPHY, SLATER, COONTZ, SPURGEON,ALVAREZ
COUNCILMEMBERS:
NONE COUNCILMEMBERS:
NONE COUNCILMEMBERS:
NONE City
Clerk of the Ci Ordinance
No. 4-97