The city council, pursuant to Section 33200 of the Community Development Law, declares itself to be the redevelopment agency as provided in this chapter, and all rights, powers, duties, privileges and immunities vested by the Community Redevelopment Law in such agency shall be, and are, vested in this body. The city council further finds that this action shall serve the public interest and promote the public safety and welfare in an effective manner. (Ord. 58 § 2, 1990)