Ordinance 1982-04 City of Gilroy and Gilroy Industrial Development AuthorityORDINANCE NO. 82 - 4
AN OP.DINANCE DECLARING NEED FOR THE I~]DUSTRIAL DEVELOPmeNT AUTHORITY OF
THE CITY OF GILROY AND THAT SUCH AUTHORITY SHALL FUNCTION.
The City Council~of the City of Gilroy does ordain as follows:
Section 1. PUrposes. The California Industrial Development
Financing Act, Title 10 (commencing with Section 91500), Government
Code (the "Act"), has established an industrial development authority
of this City for the achievement of specified public purposes. The
public purposes are to increase opportunities for useful employment or
otherwise contribute to economic development. The need for the estab-
lishment of an industrial development authoritY in the achievement of
such purposes is based upon findings that industry requires the new
and alternative method of capital finance that such authorities can
provide in order for it to undertake the acquisition, construction or
rehabilitation of facilities the use of which will serve those public
purposes.
Section 2. Findings. There is a need in the City of Gilroy
for the acquisition, construction or rehabilitation of facilities for
the use of industry which will increase employment opportunities or
otherwise contribute to economic development, and further, the new and
alternative method of capital finance that industrial development
authorities can provide will aid in satisfying that need~
Section 3. DeclaratiOns.
(a) Need. There is a need in the City of Gilroy for
an industrial development authority to provide industry with an alter-
native and additional method of finance in accordance with state policy
as set forth in the Act~
(b) 0rganizatiqD. The industrial development authority
of this City established by the Act is hereby declared organized and
ORD!NA>'[CE i?IO. 8.2 - /-~ -1-
shall function under the name
INDUSTRIAL DEVELOPmeNT AUTHORITY OF THE CITY OF GILROY
and be authOrized to transact business and exercise all of the powers
and other authority conferred upon industrial development authorities
by such Act.
Section 4. Public Notice. This ordinance was introduced before
the City Council of the City of Gilroy on January 18, 1982 and was pub-
lished by title and summary in The Gilroy-Morgan Hill Dispatch on
January 27, 1982 in accord with the requirements set forth in the
City Charter of the City of Gilroy.
Section 5. ~ Eff'e~c~tiWe~ Date. This ordinance shall become effec-
tive and be in full force on March 3, 1982.
PASSED AND ADOPTED this 1st day of February, 1982, by the
follOwing vote:
AYES:
NOES:
ABSENT:
ATTEST:
COUNCIL _MEMBERS: ALBERT, GAGE, HUGHAN, LINK, TAYLOR,
VALDEZ and GOODRICH.
COUNCIL M~MBERS: None
COUNCILMEMBERS~ None
APPROVED~
ORDINA?]CE NO. 82-4 -2-
I, SUSANNE E. STEINMETZ, City Clerk of the City of Gilroy, do hereby
certify that the attached Ordinance No. 82~f+ is an original ordinance,
duly adopted by the Council of the City of Gilroy at a regular meeting of
said Council held on the 1st day of February 19 82 at which
meeting a quorum was present.
IN ~ITNESS WHEREOF, I have hereunto set my hand and affixed the
official seal of the City of Gilroy, this 3rd day of February 19 82
{Sea ! )'