With respect to the following powers, the City Council retains onto itself the power to:
A. Acquire, whether by construction, purchase, gift, devise, lease or sublease; to improve and equip; and to finance, sell, lease or otherwise dispose of one (1) or more projects or part thereof.
B. Issue revenue bonds as provided by the Metropolitan Redevelopment Code (NMSA §§ 3-60A-1 to 3-60A-13, 3-60A-14 to 3-60A-48) to finance or acquire projects within the City and within a metropolitan redevelopment area;
C. Enter into financing agreements with others for the purpose of providing revenues to pay the bonds authorized by the Redevelopment Bonding Law (NMSA §§ 3-60A-26 to 3-60A-46); to lease, sell or otherwise dispose of any or all of its projects to others for such revenues and upon such terms and conditions as the City Council may deem advisable; and to grant options to renew any lease or other agreement with respect to the project and to grant options to buy any project at such price as the City Council deems desirable;
D. Issue revenue bonds for the purpose of defraying the cost of financing, acquiring, improving and equipping any project, including the payment of principal and interest on such bonds for a period not to exceed three (3) years and all other incidental expenses incurred in issuing such bonds; and
E. Secure payment of such bonds as provided in the Redevelopment Bonding Law. (Ord. 2012-05, 12-5-2012)