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Title:
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Resolution determining and declaring that the public interest and necessity demand the restructuring of the City's previously approved Seismic Safety Loan Program to allow for the establishment of a loan program financing privately-owned improvements to real property that will result in a reduction in the use of energy generated from nonrenewable sources; finding that the estimated cost of $50,000,000 for such loan program is and will be too great to be paid out of the ordinary annual income and revenue of said City and County and will require the incurring of a bonded indebtedness; finding the proposed project is in conformity with the priority policies of Planning Code Section 101.1(b) and with the General Plan consistency requirement of Administrative Code Section 2A.53; stating that the ordinance submitting such proposal to the voters shall comply with Section 2.40 of the Administrative Code; and waiving the time limits set forth in Administrative Code Section 2.34.
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