Petaluma Municipal Code Ch. 4.09 Home Mortgage Finance Program

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

The city adopts a home mortgage Lnance 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, 1982.)

The city Lnds and declares that the program will serve the public purposes of providing Lnancing for decent, safe

and sanitary housing that people in the lower end of the purchasing spectrum can aPord and of increasing the

housing supply. (Ord. 1528 NCS §1, 1982.)

The proper oNcers 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, 1982.)

The provisions of this chapter, being necessary for the welfare of the city and its inhabitants, shall be liberally

construed to ePect its purposes. (Ord. 1584 NCS §2, 1984.)