It is found and declared that there is a need for the Placentia industrial development authority created by Section 91520 of the Act and that such authority shall function in the city. The authority is authorized to transact business and to exercise all powers permitted by law.
(Ord. 85-O-106 § 1, 1985)
Pursuant to Section 91520(b) of the Act. this chapter is subject to the provisions for referendum set forth in Sections 4051 through 4059 of the California Elections Code.
(Ord. 85-O-106 § 2, 1985)