Ordinance 2760CITY OF ALAMEDA ORDINANCE NO. 2760
New Series
AMENDING ORDINANCE NO. 2057, AN ORDINANCE OF THE CITY
OF ALADA RELATIG TO TH FINANONG OF INDUSTRIAL AND
COMMEROAL DEVLOPMENT WIN SAID OT IN
INTRESTS OF THE PUBLIC HEALTH, SAF AND WELFARE
BE IT ORDAINED by the Council of the City of Alameda that:
Section 1.Ordinance No. 2057, An Ordinance of the City of Alameda Relating to the
Financing of Industrial and Commercial Development Within Said City in the Interests of the
Public Health , Safety and Welfare, is hereby amended as follows:
a. By substituting the following for the defiition of "Bonds " in Section 2:
. .
Bonds" means any bonds, notes, interim certicates, debentues or other
evidences of indebtedess issued by the City pursuant to this Ordinance, which
are payable exclusively from Revenues and other funds permitted by tho
Ordinance, and which are "qualified bonds" within the meaning of Sectioii
141(e) of the Internal Revenue Code of 1986, as amended, or any similc: ;;
provision of said Code then in effect. -I
b. By substituting the following for the definiton of "Project" in Section 2: -I
Project" means real property located withi the City and improved wi
an industrial or commercial structure, or with any structure used in t
futherance. of its exempt fuction by a non-profit organiztion meeting th
qualfications of s501(c)(3) of the Internal Revenue Code of 1986, as amended,
and all property in connection therewith or incidental thereto, including
machiery, equipment and funishings, the acquisition of which is fianced or
otherwse assisted pursuant to this Ordiance.
Section 2.The City Counci hereby fids and determes that the foregoing amendments
do no materially impair or adversely affect the interests of any hQlders of any outstanding
Bonds heretofore issued pursuant to Ordinance No. 2057 or the rights of Participating Parties
with respect to which Projects have heretofore been financed.
Section 3.This ordinance shall be in full force and effect from and after the expiration
of thirty (30) days from the date of its final passage.
Attest
City Clerk
the undersigned, hereby certify that the foregoing
Ordinance was duly and regularly adopted and passed by the Council
of the City of Alameda in regular meeting assembled on the 19th
day of Mav , 1998, by the following vote to wit:
AYES:Councilmembers Daysog, DeWitt, Kerr,
Lucas and President Appezzato - 5.
NOES:None.
ABSENT:None.
ABSTENTIONS:None.
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the
official seal of said City this day of May , 1998.
Diane Felsch, City Clerk
City of Alameda