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REL: adg 10/19/81 ORDINANCE NO. NS- 1609 AN ORDINANCE OF THE CITY OF SANTA ANA ADDING CHAPTER 28 TO THE SANTA ANA MUNICIPAL CODE, AUTHORIZING THE ISSUANCE OF CITY OF SANTA ANA INDUSTRIAL DEVELOPMENT BONDS FOR THE PURPOSE OF FINANCING INDUSTRIAL AND COMMERCIAL DEVELOPMENT WITHIN SAID CITY IN THE INTERESTS OF THE PUBLIC HEALTH, SAFETY AND WELFARE THE CITY COUNCIL OF THE CITY OF SANTA ANA DOES ORDAIN AS FOLLOWS: SECTION 1: That the Santa Ana Municipal Code is hereby amended by adding a Chapter, to be numbered 28, which said Chapter consists of sections numbered 28-1 through 28-21, and reads as follows: Chapter 28. Industrial Development Bonds ARTICLE I. GENERAL PROVISIONS Sec. 28-1. Findings and determinations. The City Council of the City of Santa Ana hereby finds and determines as follows: (a) The full employment of residents of the City of Santa Ana, and the prevention of unemployment and underemployment of such residents, serves a vital and compelling public interest of the City of Santa Ana and promotes the public health, safety and welfare of the City by reducing the incidence of crime, improving the mental and physical health and well-being of the City's residents, alleviating the financial drain upon limited public and private resources for welfare programs and unemployment assistance, and enhancing the financial resources of the City. (b) The encouragement of industrial and commercial development within the City serves a vital and compelling public interest of the City and promotes the public health, safety and welfare of the City by increasing the employment of residents of the City, increasing the tax and revenue base and thereby enhancing the financial resources of the City, and preventing physical deterioration and abandonment of industrial and commercial areas within the City. In addition, the City's participation in the financing of such development serves the public interest by ensuring that such development will reflect the needs and objectives of the community more so than if such development were undertaken without City participation. (c) The State legislature has not acted to place such public interests solely under State control or to prevent local action with respect thereto. (d) In the past, efforts have been made to assist industrial and commercial development and to promote local employment by State and federal agencies acting through local government. However, such efforts have generally been inadequately funded, unresponsive to local needs and objectives of the community, or have been unavailable to the City, making such efforts unsatisfactory for the City in effectuating the aforesaid public interests of the City.