99.1006. Rural economic stimulus authority authorized, limitations.
Rural economic stimulus authority authorized, limitations.
99.1006. Each municipality may create an authority to be known as a"Rural Economic Stimulus Authority"; provided, however:
(1) No such authority shall transact any business or exercise itspowers pursuant to sections 99.1000 to 99.1060 until and unless thegoverning body of such municipality shall, in accordance with subsection 1of section 99.1033, approve, by ordinance, the exercise of the powers,functions, and duties of an authority under sections 99.1000 to 99.1060;
(2) No governing body of a municipality shall adopt an ordinancepursuant to subdivision (1) of this section unless it finds:
(a) That it would be in the interest of the public to consider theestablishment of a development area in accordance with sections 99.1000 to99.1060; and
(b) That the development of such a development area would be in theinterest of the public health, safety, morals, or welfare of the residentsof such municipality.
(L. 2003 H.B. 289)