CHAPTER 4.09
HOME MORTGAGE FINANCE PROGRAM

4.09.101 Title.

This chapter may be cited as the "City of Petaluma Home Mortgage Finance Program." (Ord. 1528 NCS §1 (part), 1982.)

4.09.102 Purpose.

The city adopts a home mortgage finance program (the "program") pursuant to Chapters 1 through 5 of Part 5 of Division 31 of the Health and Safety Code of the state of California (the "Act") and, in furtherance of such program, determines to issue revenue bonds or to participate with other entities under a joint powers agreement, or as otherwise permitted by applicable laws, to issue revenue bonds pursuant to the Act to provide funds for the program. (Ord. 1584 NCS §1, 1984: Ord. 1528 NCS §1 (part), 1982.)

4.09.103 Findings.

The city finds and declares that the program will serve the public purposes of providing financing for decent, safe and sanitary housing that people in the lower end of the purchasing spectrum can afford and of increasing the housing supply. (Ord. 1528 NCS §1 (part), 1982.)

4.09.104 Authorization.

The proper officers of the city are authorized and directed to perform any acts and enter into and execute any agreements or other documents that they may deem necessary or appropriate to implement the program. (Ord. 1528 NCS §1 (part), 1982.)

4.09.105 Interpretation.

The provisions of this chapter, being necessary for the welfare of the city and its inhabitants, shall be liberally construed to effect its purposes. (Ord. 1584 NCS §2, 1984.)