Program Loans

San Diego Municipal Code ch. 6, art. 1, div. 24, pt. 2

in effect

San Diego Municipal Code § 61.2420 Loans For Multi–Family Residential Rehabilitation and Construction

§61.2420 Loans For Multi–Family Residential Rehabilitation and Construction The City may make construction loans and mortgage loans both directly and through loans–to–lenders and participation purchases to finance residential construction, rehabilitation and acquisition, provided that at least 20 percent of the dwelling units of any residence financed pursuant to the program are to be occupied by persons or families of low or moderate income. (“Loans For Multi–Family Residential Rehabilitation and Construction” added 5–3–1982 by O–15746 N.S.) (Editors note: Chapter 6, Article 1, Division 24 added 8–24–1988.)

San Diego Municipal Code § 61.2421 Fixing Fees, Charges, and Rates for Program Loans

§61.2421 Fixing Fees, Charges, and Rates for Program Loans The City may fix fees, charges, and interest rates for construction loans, mortgage loans, loans–to–lenders and participation purchases and may from time to time revise such fees, charges, and interest rates to reflect changes in interest rates on the City’s bonds, losses due to defaults, changes in loan servicing charges, or changes in other expenses related to such loans, including City administrative expenses. Any change in interest rate shall conform to the provisions of Section 1916.5 of the California Civil Code, and shall reflect changes in interest rates on the City’s bonds, losses due to defaults, changes in loan servicing charges, and changes in such other expenses related to the program. (“Fixing Fees, Charges, and Rates for Program Loans” added 5–3–1982 by O–15746 N.S.) (Editors note: Chapter 6, Article 1, Division 24 added 8–24–1988.)

San Diego Municipal Code § 61.2422 Fixing Terms and Conditions of Loans

§61.2422 Fixing Terms and Conditions of Loans The City may fix the character, terms and conditions upon which construction loans, mortgage loans, loans–to–lenders and participation purchases may be made. Construction loans and mortgage loans made to participating parties through or by qualified mortgage lenders, and loans–to–lenders made to and participation purchases made from qualified mortgage lenders, shall be of such character and on such terms and conditions as are established by the City. The full amount owed on any such loan may be made due and payable upon sale or other transfer of ownership of the residence financed by such loan and upon such terms and conditions as may be established by the City. (“Fixing Terms and Conditions of Loans” added 5–3–1982 by O–15746 N.S.) (Editors note: Chapter 6, Article 1, Division 24 added 8–24–1988.)

San Diego Municipal Code § 61.2423 Servicing of Loans

§61.2423 Servicing of Loans The City may fix fees for servicing of loans by qualified mortgage lenders. (“Servicing of Loans” added 5–3–1982 by O–15746 N.S.) (Editors note: Chapter 6, Article 1, Division 24 added 8–24–1988.)

San Diego Municipal Code § 61.2424 Deeds of Trust or Mortgages as Security

§61.2424 Deeds of Trust or Mortgages as Security The City may hold deeds of trust or mortgages as security for construction loans, mortgage loans, loans–to–lenders and participation purchases and may pledge or assign the same as security for repayment of bonds. Such deeds of trust or mortgages may be assigned to, and held on behalf of the City by, any bank or trust company or other financial institution appointed to act as trustee by the City in any resolution providing for the issuance of bonds. (“Deeds of Trust or Mortgages as Security” added 5–3–1982 by O–15746 N.S.) (Editors note: Chapter 6, Article 1, Division 24 added 8–24–1988.)

San Diego Municipal Code § 61.2425 Employment of Experts and Consultants

§61.2425 Employment of Experts and Consultants The City may employ such engineering, architectural, financial, accounting, legal or other professional services as may be necessary in the judgment of the City for the purposes of this article. (“Employment of Experts and Consultants” added 5–3–1982 by O–15746 N.S.) (Editors note: Chapter 6, Article 1, Division 24 added 8–24–1988.)

San Diego Municipal Code § 61.2426 Acquisition of Land

§61.2426 Acquisition of Land The City may acquire by deed, purchase, lease, contract, gift, devise or otherwise any real personal property, structures, rights, rights–of–way, franchises, easements, and other interest in lands necessary or convenient for the purpose of this article, upon such terms and conditions as it deems advisable and may lease, sell, or dispose of the same in such manner as may be necessary, desirable or convenient to carry out the purposes of this chapter. (“Acquisition of Land” added 5–3–1982 by O–15746 N.S.) (Editors note: Chapter 6, Article 1, Division 24 added 8–24–1988.)

San Diego Municipal Code § 61.2427 Additional Powers

§61.2427 Additional Powers In addition to all other powers specifically granted by this article, the City may do all things necessary, desirable or convenient to carry out the purposes of this article. (“Additional Powers” added 5–3–1982 by O–15746 N.S.) (Editors note: Chapter 6, Article 1, Division 24 added 8–24–1988.)

Source: City of San Diego Office of the City Clerk, San Diego Municipal Code and City Charter (docs.sandiego.gov PDFs)URL: https://docs.sandiego.gov/municode/MuniCodeChapter06/Ch06Art01Division24.pdf#page=4Fetched: 10/28/2026