Santa Clara County Municipal Code Div. A12 Home Mortgage Finance Program

There is a shortage in the County of Santa Clara of housing which is affordable by persons on the lower end of the purchasing spectrum, and a consequent need to encourage the construction of homes affordable by such persons and otherwise to increase the housing supply in the County for such persons.

(Ord. No. NS-300.352, § 1, 3-2-82)

The Board of Supervisors of the County intends to issue bonds, pursuant to Part 5 of Division 31 of the Health and Safety Code of the State of California (Health and Safety Code § 52000 et seq.) (the "Act"), to provide financing for the acquisition of housing in the County.

(Ord. No. NS-300.352, § 1, 3-2-82)

The County hereby establishes a home mortgage finance program (the "program") pursuant to the Act and hereby determines to issue revenue bonds pursuant to said act to provide funds for the program.

(Ord. No. NS-300.352, § 1, 3-2-82)

The County hereby 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 lower end of the purchasing spectrum.

(Ord. No. NS-300.352, § 1, 3-2-82)

With the consent of any city within the County, the program shall be operated by the County within the geographical boundaries of any such city.

(Ord. No. NS-300.352, § 1, 3-2-82)

The proper officers of the County are hereby 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. No. NS-300.352, § 1, 3-2-82)

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

(Ord. No. NS-300.352, § 1, 3-2-82)