Res 95-105 RESOLUTION NO. 95-105
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF POWA¥, CALIFORNIA
DECLARING ITSELF TO BE THE BOARD OF DIRECTORS OF THE
INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF POWA¥
WHEREAS, pursuant to the California Industrial Development Financing Act
(the "Act"), there is in each city of the State a public, corporate
instrumentality known as the industrial development authority of such city; and
WHEREAS, Section 91520 of the Act provides that an authority shall not
transact any business unless, by ordinance, the City Council declares there is
a need for the authority and that the authority shall function, and there has
been introduced Ordinance No. 453 of the City making such declaration in
accordance with Section 91520; ~
WHEREAS, pursuant to Section 91523 of the Act, the City Council may, at its
sole discretion and at any time, by resolution, declare itself to be the board,
in which case all the rights, powers, privileges, duties, liabilities,
disabilities and immunities vested in a board of directors shall be vested in the
City Council as such board, and the City Council deems it appropriate at this
time to so declare itself to be the board.
NOW, THEREFORE, the City Council of the City of Poway does hereby resolve
as follows:
Section 1. The City Council hereby declares itself to be the Board of
Directors of the Industrial Development Authority of the City of Poway in
accordance with Section 91523 of the Act.
Section 2. This Resolution shall be effective upon the effective date of
Ordinance No. 453 of the City, in which the City Ccuncil has declared the
need for the Aut~y and that the Authority shall function.
PASSED, ADOPTED AND APPROVED, by the City Council of the City of Poway,
California at a regular meeting thereof this 19th day of September 1995.
ATTEST:
Marjorie~K. Wahlsten, City Clerk
Resolution No. 95-105
Page 2
STATE OF CALIFORNIA )
) SS.
COUNTY OF SAN DIEGO )
I, Marjorie K. Wahlsten, City Clerk of the City of Poway, do hereby certify
that the foregoing Resolution No.95-105 was duly adopted by the City Council at
a meeting of said Council on the 19th day of September, 1995 and that it was so
adopted by the following vote:
AYES:
CAFAGNA, REXFORD, HIGGINSON
NOES: NONE
ABSTAIN: NONE
ABSENT: CALLERY, EMERY
Marjorie I~. Wahlsten,
City ClerX
c: \data\agenda\aut hidb. res