ORD-45-85 DEVELOPMENT AUTHORITY AND THAT AUTHORITY SHALL FUNCTIONORDrN~NCE NO. 45-
85 AN ORDIN~NCE OF THE CITY COUNCIL OF
THE CrTY OF ORANGE DECL~RING THE NEED
FOR THE ORANGE rNDUSTRIAL DEVELOPMENT
AUTH-ORrTY AND THAT THE ~UTHORITy
SHALL
FUNCTION.WHEREAS, the California rndustrial Development
Financing Act, Government Code Section 9l50Q, et seq.,
hereinafter referred to as the "Act," provides for the creation
of industrial development authorities within a city;
and WHEREAS, it is the desire of the City of Orange
to establish the Orange Industrial Development
Authority,hereinafter referred to as the "Authority," pursuant
to Government Code Section 91520, by declaring that there is
a need for the Authority to function within the City;
and WHEREAS, the Authority will serve a public purpose
by enabling certain financings pursuant to the Act in order
to encourage industrial development within certain areas of
the
City.NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF
ORANGE DOES ORDAIN AS
FOLLOWS:Section
I:The City Council of the City of Orange hereby finds
and declares that there is a need for an Industrial
Development Authority to be created and to function within the
City,pursuant to the
Act.Section
II:The City Council hereby establishes the Orange
Industrial Development Authority, a public, corporate
instrumentality of the State of California, which instrumentality shall
be authorized to transact business and exercise its powers
as provided in the
Act.Section
III:The City Councilor the Authority, as appropriate,
may on or after the date of final adoption of this
Ordinance,approve by Resolution any and all other actions and
matters necessary for the Authority to transact business and
exercise its powers including, but not limited to, the appointment
of a Board of Directors, as provided by the
Section IV:
A summary of this Ordinance shall be published and a
certified copy of the full text of this Ordinance shall be
posted in the Office of the City Clerk at least five (5)
days prior to the City Council meeting at which this Ordinance
is to be adopted. A summary of this Ordinance shall also be
published once within fifteen (15) days after this Ordinance's
passage in the Orange City News, a newspaper of general
circulation, published and circulated in the City of Orange.
The City Clerk shall post in the Office of the City Clerk a
certified copy of the full text of such adopted Ordinance
along with the names of those City Council members voting
for and against the Ordinance in accordance with Government
Code Section 36933. This Ordinance shall take effect thirty
30) days from and after the date of its final passage.
ADOPTED this 24 th day of September 1985.
ATTEST:
Aif~ ~ ~~Ci Y C e k of he l y of Orange
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF ORANGE )
I, MARILYN J. JENSEN, City Clerk of the City of Orange,
California, do hereby certify that the foregoing Ordinance
was introduced at the regular meeting of the City Council
held on the 17 th day of September , 1985, and
thereafter at a regular meetlng of said Clty Council duly
held on the 24 th day of S"lf"mher , 19.82. was duly
passed and adopted by the fol owing vote, to wit:
AYES:COUNCILMEN: SMITH, BARRERA, MAYOR BEAM, PEREZ, BEYER
NOES:COUNCILMEN: NONE
ABSENT:COUNCILMEN: NONE
Ci~ tf?ci~nge
ORD 45-85 2 -