If the City Council finds that a need for an Urban Renewal Agency no longer exists, the City Council shall provide, by ordinance, for a termination of the agency and a transfer of the Urban Renewal Agency facilities, files, and personnel, if any, to the city. The termination of the Urban Renewal Agency shall not affect any outstanding legal actions, contracts, or obligations of the Urban Renewal Agency and the city shall be substituted for the Agency in these matters. The Urban Renewal Agency shall not be terminated unless all indebtedness to which a portion of taxes is irrevocably pledged for repayment of indebtedness is satisfied.
(Prior Code, § 2.10.009) (Ord. 2014-05, passed 4-28-2014)