Council declares its intention to assist in financing any Municipal parking lots or facilities which hereafter may be established pursuant to the procedure set forth in this chapter, by issuing bonds of the City of appropriate character or nature, as determined by Council, and in such amount as Council may deem necessary. Such bonds will be issued from time to time and in such amounts as Council may hereafter determine at the time that any parking lot or facility may be established pursuant to the provisions of this chapter. However, nothing herein contained shall bind the City to issue any of such bonds to pay any part of the cost and expense of establishing or improving any particular parking lot or facility project which may be undertaken pursuant to the provisions of this chapter, Council reserving unto itself the full discretion to assist in the financing of such parking lot or facility project and to such extent as may be determined at the time such project is accepted and approved.
(Ord. 52-1956. Passed 2-4-57.)