Unless the Board of Supervisors by ordinance extends the term of the EIFD Public Financing Authority No. 1, it shall terminate on (a) the date on which the Power Station EIFD no longer receives property tax revenues under the Power Station IFP, or (b) the date on which no bonds or other forms of indebtedness of the EIFD Public Financing Authority No. 1 are outstanding, whichever date is later. After that date, the City Attorney is authorized to cause this Article XLVIII to be removed from the Administrative Code.
(Added by Ord. 44-23, File No. 230160, App. 4/7/2023, Eff. 5/8/2023)