HomeMy WebLinkAboutOrdinance 1584 N.C.S. 07/16/1984- ~ . , .
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CITY OF PETA.LU'MA
0`RDINANCE N'0. 1584 NCS
Intr•oduced by Councilman
Vice Mayor Bond
Seco:nded by Councilman
James L. Haxberson
', AN ORDINANC:E AMEND'ING T'HE CTTY OF PETALUMA
HO.ME MORTGAGE FINAN.CE PROG~RA-M BY
AMENDING GHAPTER 4.09 OF THE ;MU`NICIPAL CODE
AND DECLARING TH;E URGENCY THEREOF, 'T'O TAKE EFFECT IMMEDIATELY
WHEREAS; ther is a. shortage in the City of Petaluma (The "City") of
decent, safe an.d sa~nitary housing, particula~rly of housing affordable by
persons in the lower end of the purchasing spectrum, and a consequent
n.eed 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, ~it iti d'esirable for the City to adopt a home mortgage
finance program to help alle:uiate such need;
' WHEREAS, in Ordinance No. 1528 NCS, ado;pted on August 2, 1982,
the City provided for suc~h a home mortg~age fina,nce program by adding
Ch'apter 4.09 to the. Petaluma Municipal Code;; and
WHEREAS, the Gourncil of the Gity, in ord''er to fur.ther promote the
pu'rposes of said ho;me mortgage finance program, now proposes to amend
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Section 4.09.102 and to ad:d Section 4.09.105 to Chap:ter 4.09 of the
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Petaluma Municipal Code:.
~ BE IT ORDAIN'E:D' by the Gouncil of the City of Petaluma as follows:
'S~ection 1. Sec'tion 4:09.102 of C;hapter 4..09 of the Eetaluma Municipal Code
is amended, to r-ead:
SEC, 4,.0;9,1Q2, PURP"QSE
T`he ;City- hereby adopts a home mor.tgage finance prog:ram (the
;, "P,ro,gram") p,ursuant to Chap;ters 1 through S of Part 5 of
'° Division 31 of t:he He.•alth and Safety Gode of the . State of ~~ '
~ California (the "Act") and, in .furtherance of such Program, .`
hereby determines to issue revenue bonds or to p.articipate wixh '
, other entities und:er a joint powers agreement, or as other.wise
~ per,mitted by a.pplieable laws, to issue revenue bonds pursuant to
said Act "to pro~ide~ funds for the Prog;ram" '•
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'Page 1 of 2
Ord. ~1584 ~N.GS~~~ ~ ~
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'Section 2. Section 4.;09.105 is added .,to Chapter 4.09 of the Petaluma
, Municipal Gode, to read: ~
"SEC'. 4.09.105 IN TE.RP`RE"T,ATIO N
The provisions of this Chaptex, bein.g riecessary for the welfare
of the City. and its inhabitan-ts, shall be liberally construed to
effect is pi3~rposes."
Section 3. This ordinance is hereby decla;red° to be necessary for the
im:mediate preserva_.tion of ~the~ public health an•d, safety of the. City of
" Petaluma, and shall take effect and be in for:ce from and after its final
. . pa'ssage by a una'nimous vote o'f the members of the City C;ouncal present at
the time of it5 ado:ptio;n. The reason for the uxgency is that the City
d:esires to participate in the Sonoma County H'ome Finance Authority, which
. ~ Authority will have a, hom:e m~ortgage reve"nue b'ond. issue prop'osal for sale
'; by early August 19'84 ' in. or-der to selt such bonds prio:'r to a similar bond
i"ssue by the State of. California scheduled for sale in mid Au.gust of 1984.
Section 4. The City C'ler.k is hereby ordered to publish this ordinance in
accor,dance with the City Gharter. ~
~ S'ection S. This ordimance is^ to become effective ~ediately
:I~NTRODUCED AN.,D' OR.DERED PO~STED/PUBLTS'HED this 16th day of
July , T98`4.. ~ ~
A:D'OPTED this 16th,' day of' July ,~ 1984~, b.y. the owing vote:
A Y E S: Perry, Battaglia;, . Harberson,. Ca:vanagh, °,Balshaw~ ice lt4ayor Bond, Ma,yor Mattei
NOES: None '
,_ ABSENT: None
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ATT ST:
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G~ty ~Glerk _ _ °
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Mayor
, -'~ ~
Approved '
City A;ttorne,y /
tujab
Home Mortga~ge Ord
Ord. 1584 NCS
P,ag~e~, 2 of 2~