California Health and Safety Code

§ 52053.5

HSC § 52053.5 Effective Jul 28, 1983Div. 31 · Part 5 · Ch. 5

Statute text

Notwithstanding subdivision (b) of Section 52053 or any of the limitations of this part:

(a)A charter city having seven community development districts established for purposes of Section 105(a)(8) of Public Law 93-383, as amended, and which, prior to February 1, 1980, issued revenue bonds to finance mortgage loans on homes, may issue not more than thirty-three million dollars ($33,000,000) of additional revenue bonds pursuant to local ordinance to make or purchase mortgage loans on homes as defined in Section 52012, subject to the following conditions:

(1)For mortgage loans on homes located within such a community development district, the income of a purchaser shall not exceed 150 percent of the median income within the city.

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Legislative history

Amended by Stats. 1983, Ch. 478, Sec. 8. Effective July 28, 1983.