It is hereby determined and declared to be the purpose of this Article to provide a financing device which will aid in financing the cost of projects in order to relieve the severe shortage of decent, safe and sanitary housing in the Village and to thereby provide for the increased welfare and property of the residents of the Municipality, and the same are hereby declared and determined to be public purposes and functions pertaining to the government and affairs of the Municipality pursuant to the home rule authority vested in the Municipality under the Illinois Constitution of 1970.
(Ord. 1707, 3-26-1985)