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))