Ordinance - 2024 - 928 - Repealing Ordinance 385 - Creating An Industrial Developement Corporation - 06/11/2024 ORDINANCE No. 928
AN ORDINANCE OF THE CITY OF EAGLE, ADA COUNTY, IDAHO, REPEALING IN ITS
ENTIRETY ORDINANCE 385,AN ORDINANCE OF THE CITY OF EAGLE,ADA COUNTY,
IDAHO, THAT ESTABLISHED AN INDUSTRIAL DEVELOPMENT CORPORATION, AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Eagle is a municipal corporation organized and operating under
the laws of the State of Idaho; and
WHEREAS,the City adopted Ordinance 385 on February 12,2000,creating and Industrial
Development Corporation in accordance with Idaho State Code Title 50, Chapter 27 as a financial
mechanism for the construction and enlargement, or equipping of manufacturing lands and a
limited number of non-manufacturing facilities; and
WHEREAS,Idaho State Code 50-2703(2)identifies the City's ability to dissolve the public
corporation;
WHEREAS,in the twenty-four years since its inception,the Eagle Industrial Development
Corporation, has been utilized only one time;
WHEREAS, other opportunities exist for the obtention of private activity bonds through
the Idaho Housing and Finance Association;
NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR AND CITY COUNCIL OF
THE CITY OF EAGLE, Ada County, Idaho:
Section 1: Ordinance 385 that established an Industrial Development Corporation is hereby
repealed in its entirety.
Section 2: This Ordinance, or a summary thereof in compliance with Idaho Code §50-
901A, shall be published once in the official newspaper of the City, and shall take effect
immediately upon its passage, approval and publication.
Adopted by the Eagle City Council, Eagle, Idaho, on this II day of June, 2024.
CITY OF EAGLE,
Ada County, Idaho
Bra i e
Mayor
ATTEST: •°`°°°°III"',••
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Tracy E. Osb , C - ; ®' •
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* : SEAL
City Clerk - • 0
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