The Village Mayor and Board of Trustees, having found and determined that a considerable portion of the Village's rental housing may be converted to condominium status, that the prospective purchasers of these condominium units are often without knowledge of the unique concepts of ownership involved, that prospective buyers often have little factual basis presented to them on which to make a decision and that, in order to provide buyers of condominium units with basic information by which to make an intelligent housing choice and promote the health, safety and welfare of the people, it is necessary and appropriate that developers of condominium conversions prepare and distribute information deemed relevant to the buyers of this type of residential property.
(Ord. 1432, 1-13-1981)