2.41.020   City council to act as board of directors of authority.
   Pursuant to Section 91523 of the California Government Code, the city council hereby declares itself to be the board of directors of the Chico industrial development authority, and all the rights, powers, privileges, duties, liabilities, disabilities, and immunities vested in a board of directors of an industrial development authority pursuant to the California Industrial Development Financing Act shall be vested in the city council as the board of directors of the Chico industrial development authority.
(Ord. 1469 ( part))