3.76.040 Refinancing loans for health facilities.

   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 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.

(Ord. 1584 §1 (part))

3.76.050 Acquisition, construction, leasing and selling of health facilities.

   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 contract with such participating health institution to undertake on behalf of the city to construct, enlarge, remodel, renovate, alter, improve, furnish, and equip such health facility.

   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 hereunder.

(Ord. 1584 §1 (part))

3.76.060 Fees.

   The city may charge participating health institutions application, commitment, financing and other fees as may be established by resolution of the city council.

(Ord. 1584 §1 (part))

3.76.070 Applications for financing.

   Participating health institutions may apply for financing pursuant to this chapter by contacting the city manager or other officer or employee of the city designated by the city manager. Each applicant shall supply to the satisfaction of the city manager or such officer or employee all information required to evaluate the financial reliability and stability of the participating health institution and the feasibility of the proposed project, including an estimate of the maximum amount of financing to be required, a description or itemization of the costs of the proposed project, and a written agreement to pay all administrative expenses for the proposed project.

(Ord. 1584 §1 (part))

3.76.080 Acceptance of applications.

   Upon receipt of an application containing all required information, agreements and undertakings, the city council shall at such time as is deemed convenient by it review such application and any staff recommendations with respect thereto. If the city council chooses to approve any application for financing under this chapter, it shall adopt a resolution accepting and approving such application and the participation of the city in the financing of such project, subject to the provisions of this chapter and the conclusion of all proceedings undertaken to consummate such financing to the satisfaction of the city.

(Ord. 1584 §1 (part))

3.76.090 Insurance.

   The city may obtain, or aid in obtaining from any department or agency of the United States or of the state of California 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.

(Ord. 1584 §l (part))

3.76.100 Rents and charges.

   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.

(Ord. 1584 §1 ( part) )

3.76.110 Security for loans.

   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.

(Ord. 1584 §1 (part))

3.76.120 Professional services.

   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.

(Ord. 1584 §l (part))