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The city manager shall establish rules and regulations providing for the recognition by the city of qualified business investment companies. Such rules and regulations shall include but not be limited to the following:

A. A minimum amount of capital that such a company shall be required to have available for investment in or loaning to new or expanding businesses located within the city;

B. A showing by such company that the owner or owners, or in the case of a corporation, the directors and officers, have such background and training which will allow said company to be operated in a competent fashion and with the capability to assure the operation of such company in accordance with the representations made as part of said recognition process and in accordance with this chapter and the rules and regulations established pursuant to this chapter;

C. A showing that the company is designed to attract sophisticated investors after full disclosure in accordance with any applicable state and federal regulations. (Ord. 833 §1 (part), 1988).