2.34.020 Need.
   The City Council further finds and declares that there is a need for an industrial development authority in the city in order to assist in providing industry in the city with an alternative method of financing in acquiring, constructing or rehabilitating facilities in accordance with provisions of the California Industrial Development Financing Act.
(`78 Code, § 2.34.020.) (Ord. 1598 § 2, 1981.)