HomeMy WebLinkAbout171 - Ordinances ORDINANCE NO. 171
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA, DECLARING THE NEED
IN THE CITY OF RANCHO CUCAMONGA FOR AN INDUSTRIAL
DEVELOPMENT AUTHORITY AND ESTABLISHING SUCH AN
AUTHORITY
WHEREAS, industry in the City of Rancho Cucamonga (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
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 the Act
shall be suitable are industrial uses including, without limitation,
assembling, fabricating, manufacturing, or processing activities, with
respect to any products of agriculture, forestry, mining or manufacture;
and
WHEREAS, Section 91520(a) of the Act provides that the sole
purpose of the Authority is to undertake projects through the issuance
of bonds and accomplishment of the purposes provided in the Act and to
carry out and complete such projects and perform and exercise derivative
obligations and powers; and
krHEREAS, 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 shall
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 RANCHO CUCAMONGA DOES ORDAIN
AS FOLLOWS:
SECTION 1. 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 ~ehabilitate
facilities in order to increase employment opportunities and to contribute
to economic development in the City.
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 rehabilitating facilities in accordance with provisions of the Act.
Ordinance No. 171
Page 2
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
Rancho Cucamonga" 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 purposes.
SECTION 5. Environmental Determination: The City Council
finds that adoption of this Ordinance and the creation of the "Industrial
Development Authority of the City of Rancho Cucamonga" will not cause
any significant adverse impacts upon the environment and therefore
recommends issuance of a Negative Declaration.
SECTION 6. Notice and Effective Date: The Mayor shall sign
this Ordinance and the City Clerk shall cause the same to be published
within fifteen (15) days after its passage at least once in The Daily
Report, a newspaper of general circulation published in the City of
Ontario, California, and circulated in the City of Rancho Cucamonga,
California.
PASSED, APPROVED, and ADOPTED this 17th day of February, 1982.
AYES: Frost, Mikels, Palombo, Bridge, Schlosser
NOES: None
ABSENT: None
'-~Phi~l~D. Schi;ss~r, Mayor
ATTEST: