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I <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14' <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />WHEREAS, the Act requires that the Program shall <br />comply with the land use element and the housing element of <br />the General Plan of the City; and <br />WHEREAS, it will be in the best interests of the <br />City to undertake the program. <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF <br />COLTON DOES ORDAIN AS FOLLOWS: <br />Section 1. The City hereby adopts the Program pur- <br />suant to the Act and hereby determines to issue its mortgage <br />revenue bonds pursuant to the Act in order to provide funds <br />for the Program. <br />Section 2. The City hereby finds and declares that <br />the Program will serve the public purposes of providing <br />financing for decent, safe and sanitary housing which is <br />affordable to many persons, particularly those in the lower <br />end of the purchasing spectrum, and of increasing the housing <br />supply in the City. <br />Section 3. The City hereby finds and declares that <br />the Program complies with the land use element and the hous- <br />ing element of the General Plan of the City. <br />Section 4. The City shall operate the Program <br />within the geographical boundaries of the City. <br />Section 5. The provisions of this Ordinance, being <br />necessary for the welfare of the City and its inhabitants, <br />shall be liberally construed to effect its purposes. <br />Section 6. The Mayor shall sign this Ordinance and <br />the City Clerk shall attest thereto and shall cause the same, <br />or a summary thereof, within fifteen days of its adoption to <br />-2- <br />