The county does hereby create a public corporation, as authorized by section 50-2703, Idaho Code, to carry out the purposes of the Municipal Industrial Development Program Act, the same being chapter 27, title 50, Idaho Code (the "Act"). The county reserves the power, as provided in section 50-2703, Idaho Code, to alter or change the structure, organization and programs, or activities of the public corporation, or to dissolve the same, if it has no property to administer other than lands and property, if any, to be paid or transferred to the county, and all its outstanding obligations have been paid. (Ord. 37, 1-9-1984)