The city may make, purchase, or otherwise con-tract 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 obliga-tions 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 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 connec-tion with other financing by the city for such partici-pating 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 governments and to others who must pay for care, or any combination thereof.
('86 Code, § 3.42.050) (Ord. 3982, passed - - )