The city is hereby authorized and directed to engage in the issuance of bonds for the accomplishment of one or more of the public purposes which it is the declared policy of this city to achieve, all as provided in this chapter. The purpose or purposes shall be deemed to constitute a public purpose or purposes of the city in which the city has a peculiar and unique interest and the exercise of the powers recognized in this chapter shall be deemed to be in the performance of an essential governmental function and also a municipal affair as those terms are defined by California law. Findings as to the reasons for the adoption of this chapter, the public purposes to be achieved thereby and other matters pertinent to this chapter are set forth in a Res. 2866, of the Council, which is incorporated herein by reference.
(1995 Code, § 12.04.020)