The Board of Supervisors hereby finds and declares that it is necessary, essential, a public purpose and a municipal affair for the City and County to make, purchase and contract for the making of below-market-interest-rate loans for the purpose of providing mortgage financing for the acquisition, construction, or rehabilitation of housing in the City and County to encourage the availability of adequate housing and home finance for persons and families, including those of low or moderate income, and to develop viable communities by providing decent housing and an enhanced living environment.
The City and County can promote such interests pursuant to this Article without adversely affecting areas outside the City and County and without conflicting with efforts by the State of California to solve problems of statewide concern.
(Added by Ord. 12-00, File No. 992117, App. 2/11/2000)
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