The city may make, purchase or otherwise contract for the making
of, a mortgage or other secured or unsecured loan, upon such terms
and conditions as the city shall deem proper, to any participating
health institution for the cost of acquiring or constructing a health
facility or financing thereof; provided, however, that no such loan
shall exceed the total cost of such health facility as determined
by the participating health institution and approved by the city.
(Prior code § 29-4)
The city may make, purchase, or otherwise contract for the making
of a mortgage or other secured or unsecured loan, upon such terms
and conditions as the city shall deem proper, to any participating
health institution to refund or refinance outstanding obligations
of such participating health institution incurred to finance the cost
of acquiring or constructing a health facility, whether such obligations
were incurred prior to or after the enactment of this chapter, if
the city finds that such refunding or refinancing is in the public
interest and either alleviates a financial or operating hardship of
such participating health institution, or is in connection with other
financing by the city for such participating health institution or
may be expected to result in lower charges or containment of the rate
of increase in hospital rates and a saving to third parties, including
government, and to others who must pay for care, or any combination
thereof.
(Prior code § 29-5)
A.
The
city may acquire, construct, enlarge, remodel, renovate, alter, improve,
furnish, equip, own and lease as lessee a health facility for the
purpose of selling or leasing such health facility to a participating
health institution, and may designate such participating health institution
as its agent to undertake to construct, enlarge, remodel, renovate,
alter, improve, furnish and equip such health facility.
B.
The
city may sell or lease, upon such terms and conditions as the city
shall deem proper, to a participating health institution any health
facility owned by the city under this chapter, including a health
facility conveyed to the city in connection with a financing under
this chapter but not being financed or refinanced under this chapter.
(Prior code § 29-6)
The city may charge participating health institutions application,
commitment, financing and other fees, in order to recover all direct
administrative and other costs and expenses incurred in the exercise
of the powers and duties conferred by this chapter.
(Prior code § 29-7)
The city may obtain, or aid in obtaining, from any department
or agency of the United States or of the state of California or any
private company, any insurance or guarantee as to, or of, or for the
payment or repayment of, interest or principal, or both, or any part
thereof, on any loan, lease or sale obligation or any instrument evidencing
or securing the same, made or entered into pursuant to the provisions
of this chapter; and may accept payment in such manner and form as
provided therein in the event of default by a participating health
institution, and may assign any such insurance or guarantee as security
for bonds.
(Prior code § 29-8)
The city may fix rents, payments, fees, charges and interest
rates for financing under this chapter and may agree to revise from
time to time such rents, payments, fees, charges and interest rates
to reflect changes in interest rates on bonds, losses due to defaults
or changes in other expenses related to this chapter, including city
administrative expenses.
(Prior code § 29-9)
The city may hold deeds of trust or mortgages as security for
loans under this chapter and may pledge or assign the same as security
for repayment of bonds. Such deeds of trust or mortgages may be assigned
to, and held on behalf of the city by, any bank or trust company appointed
to act as trustee by the city in any resolution or indenture providing
for issuance of bonds.
(Prior code § 29-10)
The city may employ such engineering, architectural, financial,
accounting, legal or other services as may be necessary in the judgment
of the city for the purposes of this chapter.
(Prior code § 29-11)
In addition to all other powers specifically granted by this
chapter, the city may do all things necessary or convenient to carry
out the purposes of this chapter.
(Prior code § 29-12)
