All of the rights, powers, duties, privileges and immunities granted to and vested in an urban renewal agency by the laws of the state of Oregon shall be exercised by and vested in the council of the city of North Bend as provided for by ORS 457.045(3). The agency shall have the authority to perform any act or carry out any other function authorized or permitted by ORS Chapter 457, as now provided or hereafter amended. Any act of the North Bend city council acting for the urban renewal agency shall be considered the act of the urban renewal agency only and not the city or North Bend city council. (Ord. 1819 § 2, 1994)