HomeMy WebLinkAbout1983-06-21; City Council; 1264; Home mortgage finance program adoptedY
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ORDINANCE NO. 1264
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA ADOPTING A HOME MORTGAGE
FINANCE PROGRAM AND AUTHORIZING CITY OFFICERS
TO IMPLEMENT THE PROGRAM.
WHEREAS, there is a shortage in the City of Carlsbad 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 City for such persons: and
WHEREAS, the City Council of the City intends to issue
bonds, pursuant to Part 5 of Division 31 of the Health and Safety
Code of the State of California (the "Act"), to provide financing
for the acquisition of housing in the City;
NOW, THEREFORE, the City Council of the City of
Carlsbad, California does ordain as follows:
SECTION 1: The City hereby establishes a home mortgage
financing program (the "Program") pursuant to the Act and hereby
determines to issue revenue bonds pursuant to said Act to
provide funds for the Program.
SECTION 2: 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 lower end of the
purchasing spectrum.
SECTION 3: The proper officers of the City 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.
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SECTION 4. The provisions of this ordinance, being
necessary for the welfare of the City and its inhabitants, shall
be liberally construed to effect its purposes.
SECTION 5. This ordinance becomes effective
immediately after passage and within 15 days of passage shall be
published in the Carlsbad Journal, a newspaper of general
circulation published in the City.
INTRODUCED AND FIRST READ at a regular meeting of the
Carlsbad City Council held on the 7th day of June I
19 , and thereafter
APPROVED AND ADOPTED at a regular meeting of said City
Council held on the 21st day of June , 19 83 by
the following vote, to wit:
AYES :
NOES : None
ABSENT: None
Council Mbers Casler, Lewis, Kulchin, Chick and Prescott
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MARY H. [YASLER, Mayor
ATTEST:
( Seal )
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STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
) ss.
I, ALETHA L. RAUTENKRANZ, City Clerk of the City of
Carlsbad, DO HEREBY CERTIFY that the foregoing Ordinance was
duly adopted at a
on the 21st
roll call vote:
AYES:
NOES :
ABSENT:
regular meeting of the said City Council held
day of June , 1983 by the following
Councilmembers: Casler, Lewis, Kulchin, Chick and
Prescott
Councilmembers : None
Councilmembers: None