The text
A.
Revenues shall be the sole source of funds pledged by the city for repayment of its revenue bonds. Revenue bonds issued under the provisions of this chapter shall not be deemed to constitute a debt or liability of the city for which is pledged the faith and credit of the city but shall be payable solely from revenues.
B.
All rental housing financing shall be undertaken or completed subject to such project agreement as may be entered into with a participating party.
C.
The provisions of Chapter 16 (commencing with Section 7260) of Division 7 of Title I of the Government Code shall not apply to owners or tenants of any property acquired by foreclosure, trust deed, sale or other proceeding resulting from default on a loan made by the city.
D.
The city shall require that any rental housing which is constructed with financing obtained under this chapter shall be open, upon sale or rental or any portion thereof to all, regardless of race, sex, marital status, color, religion, national origin, or ancestry. The city shall also require that contracts and subcontracts engaged in rental housing financed under this chapter shall provide equal opportunity for employment, without discrimination as to race, sex, martial status, color, religion, national origin, or ancestry. All contracts and subcontracts for rental housing financed under this chapter shall be let without discrimination as to race, sex, marital status, color, religion, national origin, or ancestry. It shall be the policy of the city in financing rental housing under this chapter to encourage participation by minority contractors, and the city council shall adopt rules and regulations to implement the provisions of this subsection.
(Ord. 301 §4(B—E), 1981).