The city council 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.
(Code 1980, § 2.48.010; Ord. No. 171, § 1, 1982)
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 California Industrial Development
Financing Act, Government Code § 91500 et seq.
(Code 1980, § 2.48.020; Ord. No. 171, § 2, 1982; Ord. No. 870 (Recodification), 2014)
The industrial development authority of the city established
by the California Industrial Development Financing Act is declared
organized under the name of "Industrial Development Authority
of the City of Rancho Cucamonga," and shall function under and
in accordance with the provisions of the California Industrial Development
Financing Act, Government Code § 91500 et seq.
(Code 1980, § 2.44.030; Ord. No. 171, § 3, 1982; Ord. No. 870 (Recodification), 2014)
