HomeMy WebLinkAboutOrdinance 1584 N.C.S. 07/16/1984Y �
CITY OF PETA.LU'MA
ORDINANCE N'O. 1584 NCS
Introduced by Councilman
Vice Mayor Bond
Seconded by Councilman
James L. Harberson
AN OR.DINANC1 AMENDING THE CITY OF PETALUMA
HOME MORTGAGE FINANCE 'PROG'RA-M BY
AMENDING' CHAPTER 4.09 OF THE ;MU`NICIPAL CODE
AND DECLARING THE URGENCY THEREOF, 'TO TAKE EFFECT IMMEDIATELY
WHEREAS, ther is a. shortage in the City of Petaluma (The "City") of
decent, safe and sanitary housing, particularly of housing affordable by
persons in the lower end of the purchasing spectrum, and a consequent
need to encourage the construction and rehabilitation of homes affordable by
such persons and otherwise to increase the housing supply in the City for
such persons;
WHEREAS; 1t it desirable for the City to adopt a home mortgage
finance program to help alleviate such need;
WHEREAS, in Ordinance No. 1528 NCS,, adopted on August 2, 1982,
the City provided for such a home mortgage finance program by adding
Chapter 4.09 to the. Petaluma Municipal Code;; and
WHEREAS, the Council of the City, in order to further promote the
purposes of said h6me mortgage finance program, now proposes to amend
Section 4.09.102 and to add Section 4.09.105 to Chapter 4.09 of the
{
Petaluma Municipal Code..
BE IT ORDAINEDby the Council of the City of Petaluma as follows:
Section 1. Section 4.09.102 of Chapter 4..09 of the Petaluma Municipal Code
is amended, to read:
SEC.; 4..Q9.102; PURP"OSE
The :City. hereby adopts a home mortgage finance program (the
"Program") pursuant to Chap ers 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,
hereby 'determine -
etermines to issue revenue bonds or to participate with
other entities under a joint powers agreement, or as other.wise
permitted by applicable laws, to issue revenue bonds pursuant to
said Act 'to provide funds for the Prog;ra-m"
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Ord. 1584 N.CS
t
Section 2. Section 4.,09.105 is added .,to Chapter 4.09 of the Petaluma
Municipal Code, to read:
'SEC'. 4.09.105 IN TE.RP`RE"T.ATIO N
The provisions of this Chapter, being necessary for the welfare
of the City and its inhabitants, shall be liberally construed to
effect is p frposes."
Section 3. This ordinance is hereby declared to be necessary for the
immediate preserva_.ton of the public health and, safety of the. City of
Petaluma, and shall take effect and be in force from and after its final
passage by a unanimous vote of the members of .the City C;ou-ncil present at
the time of its ado:ptio-n. The reason for the urgency is that the City
desires to participate in the Sonoma County Home Finance Authority, which
Authority will have a home mortgage revenue bond. issue proposal for sale
by early August '1984 ' in. order to sell such bonds prior to a similar bond
issue by the State of. California scheduled for sale in mid August of 1984.
Section 4.. The City Gler.k is hereby ordered- to publish this ordinance in
accordance with the City Charter.
Section 5. This ordinance is° to become effective ianediately
INTRODUCED AN.,DORDERED POSTED/PUBLIS'HED this 16th day of
July 19 8`4..
A.D`O P T E D this 16th.' day of July 1984, by the owing vote:
AYES: Perry, Battaglia;, . Harberson,. Cavanagh,. `,Balshaw� ice 11ayor Bond, Mayor Mattei
NOES: None
ABSENT: None
ATT ST:
APU
-City Glerk
tuj,ab
Home Mortgage Ord
Mayor
Approved
City Attorney /
Ord. 1584 NCS
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