§ 5-20-1-1 — Legislative findings and declaration of public policy

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 spent;
(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.
As added by Acts 1978, P.L.28, SEC.1. Amended by Acts 1982,
P.L.35, SEC.2.