Moorpark Municipal Code Ch. 3.20 Home Mortgage Financing Program

The city establishes a home mortgage finance program ("the program") pursuant to the Act, approves the Rules and Regulations Establishing Eligibility Criteria for Lending Institutions and the Rules and Regulations Establishing Eligibility Criteria for Mortgagors, copies of which are on file with the city clerk and determines to issue revenue bonds pursuant to said Act to provide funds for the program.

(Ord. 44 § 1, 1985)

The city finds and declares that the program will serve the public purposes of increasing the housing supply and of providing financing for decent, safe and sanitary housing which is affordable by people on the lowerend of the purchasing spectrum.

(Ord. 44 § 2, 1985)

The proper officers of the city are authorized and directed to take all actions necessary or appropriate to implement the program in accordance with the Act.

(Ord. 44 § 3, 1985)

The provisions of this chapter, being necessary for the welfare of the city and the inhabitants of the city shall be liberally construed to effect its purpose.

(Ord. 44 § 4, 1985)