The City may grant deeds of trust or mortgages as security for repayment of bonds, and may hold deeds of trust as security for loans made to Qualified 501(c)(3) Sponsors under this Article XV, and may pledge or assign the same as security for repayment of bonds. Such deeds of trust, mortgages or security interests, or any other interest of the City in any Residence, may be assigned to, and held on behalf of the City by, any bond purchaser, collateral agent, or bank or trust company appointed to act as trustee by the City in any ordinance or indenture providing for the issuance of bonds.
(Added by Ord. 211-24, File No. 240726, App. 8/1/2024, Eff. 9/1/2024)