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<br />that~ <br /> <br />(j) the Preliminary Official Statement dated <br />June 17, 1988 and draft of Official <br />Statement (to be dated on or about July 1, <br />1988) (not executed by the City). <br />(k) the Collateral Assignment of City Note. <br />(1) the Subordination and Warranty Agreement. <br />6. It is hereby found, determined and declared <br /> <br />(a) the Project described in the Loan <br />Agreement and Indenture referred to above constitutes a <br /> <br /> <br />Project authorized by the Act and the financing program <br /> <br /> <br />for the Project is authorized by the Act; <br /> <br /> <br />(b) the purpose of the Project and the <br /> <br /> <br />financing program for the Project is, and the <br /> <br /> <br />effect thereof will be, to promote the public <br /> <br /> <br />welfare by the construction, installation and <br /> <br /> <br />equipping of a rental housing facility for <br /> <br />assisting persons of low income and elderly <br /> <br /> <br />persons within the City to obtain decent, safe <br /> <br /> <br />and sanitary housing at rentals they can afford; <br /> <br /> <br />(c) the Project is to be located <br /> <br /> <br />within the City limits, at a site which is easily <br /> <br /> <br />accessible to persons residing within the City <br /> <br />and the surrounding communities; <br /> <br />6 <br />