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(A) That the formation of the City of Yuma Municipal Property Corporation, a nonprofit Arizona corporation, as set forth above, is hereby found to be beneficial to the City of Yuma, Arizona, and to the citizens thereof for the reasons above set forth; and that the formation of said corporation is hereby consented to by the Mayor and City Council of the city.
(B) That the plan of financing the construction and acquisition by the city of part or all of the facilities, appears in all respects to be proper and appropriate to accomplish the desired end results; and that all staff members of the City of Yuma, be, and they are, hereby authorized to cooperate with the officers, directors and staff of the City of Yuma Municipal Property Corporation in formulating final plans and documents with respect to the construction and acquisition project. Beginning July 1, 2011, all terms will expire on December 31 of the term expiration year.
(C) That the immediate operation of this resolution is necessary for the preservation of the public peace, health and safety of the City of Yuma, and an emergency is hereby declared to exist; and this resolution shall be in full force and effect from and after its passage and approval by the Mayor and City Council of the city and publication as required by law, and is hereby exempt from the referendum provisions of the Constitution and Laws of the State of Arizona.
(Res. 1532, passed 8-20-69; Ord. 2010-66, passed 1-5-11)