For the purpose of this §§ 14-8-6-1 et seq., the following definitions shall apply unless the context clearly indicates or requires a different meaning.
BONDS. Any bond, debenture, note, refunding or renewal bond or note, warrant or other security evidencing an obligation the proceeds of which, or a major portion thereof, are to be used in the trade or business carried on by someone other than the city and which are authorized to be issued by the city pursuant to the Industrial Revenue Bond Act (Sections 3-32-1 to 3-32-16 NMSA 1978, as amended from time to time); the Metropolitan Redevelopment Code (Sections 3-60A-1 to 3-60A-48 NMSA 1978, as amended from time to time); or pursuant to the home rule powers of the city given by Article X, Section 6 of the New Mexico Constitution and the city's Charter.
INDUCEMENT RESOLUTION. A resolution of the Council setting forth its good-faith intent to issue bonds upon the prior satisfaction of all applicable land use and development requirements of the city, other than the issuance of a building permit.
PROJECT PLAN. The plan describing a project, which shall include a general description and location of the project, the number and type of new jobs to be created, the estimated percentage of jobs to be filled by persons who are residents of the city on the date of the project plan submission, identification and the processing of any product associated with the project, any relocation of individuals or businesses, the present use or conditions of the project site, the present assessed value of the project site, if available, the estimated value of the project site after completion of the project, the maximum amount of the bonds to be issued, the present and proposed zoning, a proposed construction schedule and other matters which may be reasonably requested by the Commission.
('74 Code, § 7-23-1) (Ord. 12-1985)