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Title 04
Chapter 04.25
Section 04.25.530
 

Title 04 Administrative Agencies and Procedures

Chapter 04.25 Public Development Authority

Article II. Charter

Section 04.25.530 Purpose

  1. The purpose of the authority is to provide a legal entity organized under the act and the ordinance to undertake, assist with and otherwise facilitate or provide for the following activities (the “chartered activities”):

    1. Improve governmental efficiency and services and general living conditions within the City.

    2. Administer and execute federal grants and programs, receive and administer federal funds.

    3. Perform all manner and type of community services.

    4. Provide and implement such municipal services and functions as the city council may direct.

    5. Allow a character of community participation in appropriate municipal projects and activities that are, in practical effect, restricted by the organizational structure of City government.

    6. Promote and implement historic preservation of districts included in the National Register of Historic Places.
       
  2. To the extent appropriate and consistent with the needs and objectives of the City and to facilitate or provide for the chartered activities, the authority will undertake and accomplish all activities necessary or convenient for the development, operation and implementation of the chartered activities.
     
  3. For the purpose only of securing the exemption from federal income taxation for interest on obligations of the authority, the authority constitutes an authority and instrumentality of the City (within the meaning of those terms in regulations of the United States Treasury and rulings of the Internal Revenue Service prescribed pursuant to section 103 of the Internal Revenue Code of 1986, as amended).

Date Passed: Monday, March 26, 2007

Effective Date: Sunday, May 6, 2007

Recodification ORD C33995 Section 1