Colton Municipal Code Ch. 3.36 Home Financing Program

The City adopts the home financing program pursuant to Part 5 of Division 31 of the Health and Safety Code of the State and determines to issue its mortgage revenue bonds pursuant to the Act in order to provide funds for the program.

(Ord. 1663 § 1, 1984)

The City finds and declares that the program will serve the public purposes of providing financing for decent, safe and sanitary housing which is affordable to many Persons, particularly those in the lower end of the purchasing spectrum, and of increasing the housing supply in the City.

(Ord. 1663 § 2, 1984)

The City finds and declares that the program complies with the land Use element and the housing element of the General Plan of the City.

(Ord. 1663 § 3, 1984)

The City Shall operate the program within the geographical boundaries of the City.

(Ord. 1663 § 4, 1984)