The text
A.
The city council finds and declares that it is necessary and essential that the city be authorized to proceed under the Rental Housing Construction Program, Health and Safety Code Sections 50735 et seq., including, without limiting the generality of the foregoing Health and Safety Code Section 50742 which provides, in part as follows:
"For purposes of acting as a local finance entity pursuant to this chapter, a city, county, or city and county may, pursuant to an enabling ordinance of its legislative body, issue revenue bonds to provide below-market interest financing of a rental housing development."
(Ord. 301 §3, 1981).