The City may make, purchase, or otherwise contract for the making
of a mortgage or other loan, upon such terms and conditions as the
City shall deem proper, to any participating health institution for
the cost of a health facility.
(Prior code § 9-564)
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 a health facility, including expenses incident to paying or otherwise
discharging the obligations to be refunded or refinanced, whether
such obligations were incurred prior to or after the enactment of
the ordinance codified in 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 costs of
health care than would otherwise prevail and a saving to third parties,
including government, and to others who must pay for care, or any
combination thereof.
(Prior code § 9-565)
The City may charge participating health institutions application,
commitment, financing and other fees, in order to recover all administrative
and other costs and expenses incurred in the exercise of the powers
and duties conferred by this chapter.
(Prior code § 9-567)
The City may obtain, or aid in obtaining, from any department
or agency of the United States or of the State or of any private company,
any insurance or guarantee as to, or of, or for the payment or repayment
of, interest, principal, rents, fees or other charges or any part
thereof on any loan, lease or sale agreement 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 § 9-568)
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 § 9-569)
The City may hold deeds of trust, mortgages or security interests
as security for loans and other obligations under this chapter and
may pledge or assign the same as security for repayment of bonds.
Such deeds of trust, mortgages or security interests 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 § 9-570)
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 § 9-571)
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 § 9-572)