Effective 28 Aug 2003
99.1006. Rural economic stimulus authority authorized, limitations. — 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 its powers pursuant to sections 99.1000 to 99.1060 until and unless the governing body of such municipality shall, in accordance with subsection 1 of 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 ordinance pursuant to subdivision (1) of this section unless it finds:
(a) That it would be in the interest of the public to consider the establishment of a development area in accordance with sections 99.1000 to 99.1060; and
(b) That the development of such a development area would be in the interest of the public health, safety, morals, or welfare of the residents of such municipality.
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(L. 2003 H.B. 289)
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