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amount of any such home mortgage and (y) no home mortgage <br /> shall exceed a 95� loan to value ratio and private mortgage <br /> insurance shall be obtained to the extent determined by the <br /> governing body of the municipality. <br /> (4) To require from each lending institution from <br /> which home mortgag�s are purchased or to which loans are <br /> made the submission, at the time of such purchase or loan, <br /> of evidence satisfactory to the municipality of the ability <br /> and intention of such lending institution to make home <br /> mortgages, and the submission, within the time specified <br /> by the municipality for making disbursements for home <br /> mortgages, of evidence satisfactory to the municipality of <br /> the making of home mortgages and of compliance with any <br /> standards and requirements established by the municipality. <br /> (b) Bonds . The municipality shall have the power: <br /> (1) To issue bonds to defray, in whole or in part, <br /> (i) the costs of purchasing, or funding the making of, <br /> home mortgages, (ii) the costs of studies and surveys, insurance <br /> premiums, underwriting fees , legal, accounting, and marketing <br /> services incurred in connection with the issuance and sale <br /> of such bonds , including bond and interest reserve accounts <br /> and trustee, custodian and rating agency fees and (iii) <br /> such other costs as are reasonably related to the foregoing. <br /> (2) To sell or otherwise dispose of any home <br /> mortgages, in whole or in part, or to loan sufficient funds <br /> to any person to defray, in whole or in part, the costs of <br /> purchasing home mortgages, so that the revenues and receipts <br /> to be derived with respect to the home mortgages, together <br /> w�� any insurance proceeds , reserve accounts and earnings <br /> thereon shall be designed to produce revenues and receipts <br /> at least sufficient to provide for the prom�t payment at <br /> maturity of principal, interest and redemption premiums , if <br /> any, upon all bonds issued to finance such costs . <br /> (3) To pledge any revenues and receipts to be <br /> received from any home mortgages to the punctual payment ' <br /> of bond authorized under this Ordinance, and the interest ' <br /> and redemption premiums , if any, thereon. ; <br /> (4) To mortgage, pledge or grant security interests � <br /> in any home mortgages, notes or other property in favor of 'i <br /> the holder or holders of bonds issued therefor. <br /> (5) To sell and convey any home mortgages for <br /> such prices and at such times as the governing body of the <br /> municipality may determine. <br /> - 4 - <br />