The City and County may use the proceeds of bonds, or other moneys provided by or on behalf of a participating party, to acquire, construct, enlarge, remodel, renovate, alter, improve, furnish, equip and lease as lessee a residence solely for the purpose of selling or leasing as lessor such residence to such participating party, and may contract with such participating party to undertake on behalf of the City and County to construct, enlarge, remodel, renovate, alter, improve, furnish and equip such residence.
The City and County may sell or lease, upon such terms and conditions as the City and County shall deem proper, to a participating party any residence owned by the City and County under this Article, including a residence conveyed to the City and County in connection with a financing under this Article but not being financed hereunder.
(Added by Ord. 12-00, File No. 992117, App. 2/11/2000)