Sec. 1. Legislative Findings and Declaration of Public Policy. It is hereby declared:
(1) that there exists in the state of Indiana a need for safe and sanitary residential
housing within the financial means of low and moderate income persons and families,
a need which unmet is a threat to the health, safety, morals and welfare of Indiana
residents and which will require an excessive expenditure of public funds for the
social problems thus created;
(2) that private enterprise and investment will more adequately be able to produce
the needed construction of decent, safe and sanitary residential housing at prices
or rentals which persons and families of low and moderate income can afford, or to
achieve the urgently needed rehabilitation of much of the present low and moderate
income housing; that it is imperative that the supply of residential housing for
persons and families of low and moderate income displaced by public actions or natural
disaster be increased; and that private enterprise and investment be encouraged to
sponsor, build and rehabilitate residential housing for such persons and families;
(3) that the provision of decent, safe and sanitary housing for persons and families
of low and moderate income who would otherwise be unable to obtain adequate housing
at costs they could afford is a valid public purpose for which public money may be
(4) that there exists a need in Indiana to stimulate the residential housing industry;
that public employees have unmet needs with regard to residential housing; that
state retirement plans need additional, safe avenues for investment; and that the
provision of money for mortgage loans through the issuance of mortgage-backed bonds
or notes will in part meet these needs; and
(5) that the necessity in the public interest and welfare for the provisions of this
chapter is hereby declared a matter of legislative determination.
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