Section 7.11.  Deferred Payment Contracts.
The City may enter into installment or lease-purchase contracts for the acquisition of real or personal property or capital equipment. Each such contract shall not extend over a period greater than 20 years. All such deferred payments shall be included in the budget for the year in which the installment is payable unless the City Commission has determined that it is in the best interest of the City to sell or abandon said contract or the City’s equity in said property.