HomeMy WebLinkAbout3945UORDINANCE NO. 3945
ORDINANCE OF THE CITY OF SAN BERNARDINO
AMENDING ORDINANCE NO. 3815 RELATING TO
THE FINANCING OF PROJECTS FOR THE
ENCOURAGING OF INCREASED EMPLOYMENT . .
AMENDING SUBSECTION (e-1) OF SECTION 2
RELATING TO THE DEFINITION OF "BONDS"
THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN
BERNARDINO DO ORDAIN AS FOLLOWS:
Section 1. Amendment. Subsection (e-1) of
Section 2 of Ordinance No. 3815 shall be amended to delete
subparagraph (3)A(viii) and renumber the following two
subparagraphs (viii) and (ix).
Section 2. Amendment. Subsection (e-1) of
Section 2 of Ordinance No. 3815 shall be amended to add to
the last paragraph thereof the following:
"In addition, the above definitions are
not intended to prevent this Ordinance
from being used to finance Facilities
which are to be used directly or
indirectly in any trade or business
carried on by any person who is an
exempt person within the meaning of
the Internal Revenue Code of 1954, as
amended; and any Company, who so quali-
fies as an exempt person, may submit an
Application for financing hereunder;
and any Company, who does not so qualify
as an exempt person, may submit an
application for financing of Facilities
for operation by such an exempt person,
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it being the intent of this Ordinance
to encourage all enterprises, either
within or without the City, which
broaden the employment opportunities
for residents of the City and which
serve the residents of the City and
so make it a more attractive place
for industrial and commercial ventures,
all as more fully set forth in Section
1 of this Ordinance."
Section 3. Effective Date. This Ordinance is
an urgency measure and shall take effect upon adoption.
The facts constituting such urgency are: Such developments
as the present international situation, the energy crisis,
the current rate of inflation, the efforts to combat
inflation, the current recession and increasing unemploy-
ment throughout the nation are all reflected in San
Bernardino. Nonprofit and tax-exempt institutions are
substantial employers within San Bernardino and contribute
to the ability of the City to attract and keep profit
making businesses and a skilled labor force. Ordinance
No. 3815 was designed to enable such nonprofit and tax-
exempt institutions to be financed; however, in a currently
pending financing, an ambiguity has appeared which will be
cured by this amendment, and the amendment to Ordinance No.
3815 made by this Ordinance should expedite the forthcoming
financing of Facilities which will help to alleviate the
severe unemployment problem in the City.
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San i3erhardino
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I HEREBY CERTIFY that the foregoing Ordinance was
duly adopted by the Mayor and Common Council of the City of
r day of
0;:9"1=
meeting thereof, held on the
, 1980, by the following vote,
San Bernardino
to wit:
~ .
AYES: Members d~~~~ 0.i~k, 'pjj.-....?
c!t,"-i~ ~ L)L:~t~
NOES: Members 7J:W
ABSENT: Members ~,,~..L.ul 'dh_J
ABSTAIN:
Members
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C~ Y C er
The
'rq::'
Ordinance is hereby approved this
I~ day of
.
, 1980.
Approved as to form:
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City At orney
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