Perris Municipal Code Ch. 3.36 Home Financing Program

The city hereby adopts the home financing program (the "program") pursuant to part 5 of division 31 of the health and safety code (the "Act") and hereby determines to issue its mortgage revenue bonds, mortgage credit certificates, and any other allowable financing mechanisms pursuant to the Act in order to provide funds for the program.

(Code 1972, § 3.36.010; Ord. No. 735, § 1, 1988; Ord. No. 1366, § 2, 7-31-2018)

(a) 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.

(b) 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.

(Code 1972, § 3.36.020; Ord. No. 735, §§ 2, 3, 1988)

The city shall operate the program within the geographical boundaries of the city.

(Code 1972, § 3.36.030; Ord. No. 735, § 4, 1988)

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

(Code 1972, § 3.36.040; Ord. No. 735, § 5, 1988)