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EXHIBIT NOT ATTACHED REL: adg 12/15/80 ORDINANCE NO. NS-1559 AN ORDINANCE OF THE CITY OF SANTA ANA ADDING DIVISION 9 TO ARTICLE IV OF CHAPTER 2 OF THE SANTA ANA MUNICIPAL CODE TO DECLARE THAT NEED EXISTS FOR THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF SANTA ANA, THAT SUCH AUTHORITY SHALL FUNCTION, AND THAT THE CITY COUNCIL OF THE CITY OF SANTA ANA SHALL BE THE BOARD OF DIRECTORS OF SUCH AUTHORITY THE CITY COUNCIL OF THE CITY OF SANTA ANA DOES ORDAIN AS ~FOLLOW$: SECTION 1: That the Santa Ana Municipal Code, is hereby amended by adding a Division, to be numbered 9 to Article IV of Chapter 2 thereof, which said Division shall consist of sections to be numbered 2-630 through 2-634, inclusive, and which shall read as follows: DIVISION 9. INDUSTRIAL DEVELOPMENT AUTHORITY Sec. 2-630. Purposes The California Industrial Development Financing Act, as set forth in Title 10 (commencing with Section 91500) of the Government Code of the State of California, has established an industrial development authority of this City for the achievement of specified public purposes. The public purposes are the increasing of opportunities for useful employment or otherwise contributing to economic development. The need for the establishment 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. Sec. 2-631. Findings There is a need in the City of Santa Ana 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. Sec. 2-632. Declarations (a) Need. There is a need in the City of Santa Ana for an industrial development authority to provide industry with an alternative and additional method of finance in accordance with state policy as set forth in the California Industrial Development Financing Act. (b) Organization. The industrial development authority of this City established by the California Industrial Development Financing Act is hereby declared organized and shall function under the name "Industrial Development Authority of the City of Santa Ana,"