In accordance with the provisions of the joint powers agreement between the city and the Chico Redevelopment Agency, the primary purpose of the Chico Public Financing Authority shall be to provide for the financing of land, facilities and equipment to be used for the public purposes of the city and/or the agency, including but not limited to “public capital improvements” as defined in Section 6585(g) of the California Government Code, either through the acquisition, construction and improvement of such land, facilities or equipment, or through a loan of funds to the city or the agency to enable the city or the agency to acquire, construct or improve such land, facilities or equipment. In addition, the authority shall have all the purposes authorized by Section 6590 of the California Government Code. As provided by the joint powers laws of the state of California, the Chico Public Financing Authority is a public entity separate and distinct from either the city or the Chico Redevelopment Agency.
(Ord. 1829 (part))