(A) To issue its revenue bonds to finance in whole or in part the cost of the acquisition, construction, or rehabilitation of any housing development;
(B) To lease the housing development to a contracting party so that rent to be charged for the use of the housing development shall be sufficient to provide for the prompt payment of principal and interest on all bonds issued to finance the housing development;
(C) To enter into loan agreements with a contracting party with respect to the housing development for payments and on such terms and conditions as the city council may deem advisable;
(D) To pledge to the punctual payment of such bonds the income and revenues to be derived by the city from the housing development;
(E) To make or receive and assign a mortgage of the housing development for the benefit of the holder or holders of bonds issued; and
(F) To sell and convey a housing development, including the sale and conveyance subject to a mortgage, for such price and at such time as the city council may determine. No sale or conveyance of a housing development shall ever be made in a manner which will impair the rights or interest of the holder or holders of any bonds issued for the acquisition, construction, or reconstruction of any housing development.
(Ord. 6491, passed 8-9-77; amend. Ord. 6531, passed 11-22-77)