100.320. Planned industrial expansion authority created, powers exercised, when. - Missouri Statutes

Planned industrial expansion authority created, powers exercised,when.

100.320. There is hereby created in each city, as hereindefined, a public body corporate and politic to be known as "ThePlanned Industrial Expansion Authority" of the city; provided,however:

(1) That such authority shall not transact any business orexercise its powers hereunder until and unless the governing bodyshall approve, by resolution or ordinance, the exercising in suchcity of the powers, functions and duties of an authority underthis law;

(2) That the governing body of a city shall not adopt aresolution or ordinance pursuant to subdivision (1) above unlessit finds:

(a) That one or more blighted, insanitary or undevelopedindustrial areas exist in such community; and

(b) That the development of such area or areas is necessaryin the interest of the public health, safety, morals or welfareof the residents of such city.

(L. 1967 p. 172 § 3)