0575
q1
ORDINANCE NO. 5 7 5
AN ORDINANCE Al"lliNDING SECTION 1 AND SECTION 4 OF Ol<lJINANrF: NO. 516 OF
1978; DECIARING AN flvltd-{(jt;i\ICYi AND FOR GrHER PURPOSES. (REGARDI:NG
RESIDENTIAL HOUSI:NG FACILITIES BOARD)
NOVJ, ~'ORE, BE 1-'11 ORDAIN1:ill BY THE CITY COUNCIL OF THE CITY OF JACKSON-
VIILE, ARKANSAS, THAT:
SEC'l'ION 1. Section 1 of Ordinance No. 516 of 1978, as amended is
hereby amended to read as follows:
(f) There exists within the City of Jacksonville, Arkansas
a need to provide funds for mortgage financing of rental
units for persons of low and moderate inculLLe.
SECTION 2. Section 4 of OLdinance No. 516 of 1978, as amended is
hereby amended to read as follows:
"Section 4. Powers. The Board is t:1LLJ::JOwered, fruLL time
to time, to loa.n, acquire, construct, reconstruct, ex-
tend, equip, l.1utJrove, sell, lease, and contract concern-
ing (which shall include the purchase of mortgage loans
and the making of loans to mortgage lenders) residential
housing facilities as shall be determined by the Boa.rd
to be necess~ry to effect the purposes of this Ordinance
to provide decent, safe and sanitary residential housing
facili ties wi thin the City. In addition, the Board
shall have each of the powers set forth in Section 7
of the Act, as dlLLended, and alJl!ropriate to the purposes
for which the Board is created. The Board nay enter into
such contractual or cooperative agret:'J.LLents with such
persons as may, in its discretion, be advisable to accuLLp1ish
the purposes of this Ordinance, including without limitation,
deparlJ.LLents, agencies or ins trurnenta:l i ties of the United
States of America, the State of Arkansas or the City, e.g.
the DeparULLent of Housing and Urban Develo1:JLuent, the Federal
Housing Administration, the :Axkansas Housing Authority.
SECTICN 3. This Ordinance being necessary for the iLLlLuediate preserva-
tion of the public health, safety, welfare and morale of the citizens of
the City of Jacksonville, Arkansas, an C::LUergency is hereby declared to exist
and the above Ordinance shall be in full force and effect illlLLLediately
aftpr its passage. *
APPROVNJ THIS
21st DAY OF February
, 1980.
CITY OF JACKSONVILLE, ARKANSAS
A'l.l'.t;ST:
MA~.~
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CITY C~ I (j
APPROV12J AS TO FORM:
1:::-.0 ~2"~
CITY kl.l ORN~y -
* ~1tJ:{(jt;i\CY CLAUSE Nor jQf'FEC'l'tV BY VOl'.t; OF COUNCIL. ORDINANCE BECamS tJ:i'j;'ECTIVE
21ST DAY OF MARCH, 1980. (NANCY GliliREN, CITY C~)