The city shall undertake projects by entry into project agreements in substance not inconsistent with the following:
(A) The company shall comply with all legal requirements relating to the project and the operation, repair and maintenance of the facility, including:
(1) Obtaining any rezonings or variances, building, development, environment and other permits and approvals, and licenses and other entitlements for use, without regard to any exemption for public projects;
(2) Securing the issuance of any certificates of need, convenience, and necessity or other certificates or franchises required by the state;
(3) Qualifying and/or registering any nonexempt issue, offer or sale of any bonds or other security proposed to be issued by the company or others (including the city) in connection with the project; and
(4) Providing satisfactory evidence of compliance with this section.
(B) The company shall provide or cause to be provided by others, all amounts required for the project and all property of the project which are not to be provided as or by expenditure of bond proceeds, and in the case of any such amounts and property which the company proposes to cause to be provided by others, as by contract, grant, subsidy, loan or other form of assistance, shall provide satisfactory evidence that the amounts and property will be provided when required.
(C) Expenditure of bond proceeds shall be supervised to assure proper application to the project.
(D) The company shall, at its own expense, insure, repair and maintain the facility, pay such taxes with respect to its interests in the property of the project as is then required by law, and pay any assessments and other public charges secured by liens, upon such interests as constitute the tax base for property taxation (regardless of any exemption which may be provided from property taxes) on the same basis as other property of similar character.
(E) The amounts payable by a company to or for the benefit of the city shall, in the aggregate, not be less than amounts sufficient to pay any bonds that shall be issued by the city to pay the costs of the project and to pay those administrative expenses which relate to the administration of the project agreements, the resolution of issuance of the bonds.
(F) The term of the project agreements shall extend at least until the date on which all such bonds and all other obligations incurred by the city in connection with a project shall have been paid in full or adequate funds for such payment shall have been otherwise provided.
(G) Such additional provisions as in the determination of the city are necessary or appropriate to effectuate the purposes of this chapter, including, without limitation, provisions:
(1) For payments by a company which include amounts for administrative expenses, in addition to the amounts which the agreement is required to obligate the company to pay, which are incurred by the city subsequent to the preliminary undertaking of the project by the city;
(2) For payment before a facility exists or becomes functional, or after a facility has ceased to exist or be functional to any extent and from any cause;
(3) For payment regardless as to whether or not the company is in possession or is entitled to be in possession of the facility;
(4) Relating to the carrying out and completion of the project, including the allocation of responsibility between the city and the company regarding the acquisition of property, the making of other purchases, and the contracting for construction of the project, with or without competitive bidding, and the payment therefor;
(5) That some or all of the obligations of a company shall be unconditional and shall be binding and enforceable in all circumstances whatsoever, notwithstanding any other provision of law;
(6) Relating to the use, maintenance, repair, insurance, and replacement of property of the project, such as the city and the company deem necessary for the protection of themselves or other, including, but not limited to, liability insurance, indemnification and events of default;
(7) That the company shall indemnify and hold the city harmless against the claims and demands of all persons arising in any manner from the project, the project agreements, the facilities, the property, its operation, maintenance, repair and the like, including without limitation, alleged violations of any state or federal law relating thereto or relating to this chapter or any acts taken under this chapter; and
(8) For the payment of fees, charges or deposits for the purpose of establishing and maintaining such common reserve fund or funds as may be deemed necessary or desirable to secure the city’s bonds issued hereunder, pursuant to rules and regulations governing the derivation, operation and use of such common reserve fund or funds. One or more common reserve funds may be established by the city for any or all of its bonds. The liability of any such common reserve fund with respect to any single issue of bonds of the city may not exceed the sum of the unpaid principal, interest and premium, if any, of the outstanding bonds of the issue. Each common reserve fund established pursuant to this section shall be established by the Finance Director/Treasurer. All interest or other increment earned by investment or deposit of moneys in such fund shall be credited to, and deposited in, the fund.
(H) The company shall provide for the payment of any relocation assistance required by law and shall reimburse the city, as the case may be, for relocation assistance services.
(I) Notwithstanding any other provision of this chapter, projects developed pursuant to this chapter shall be consistent with the requirements of the general plan of the city and any applicable redevelopment plan.
(J) In any project agreement entered into by the city for the financing or refinancing of health facilities, the company shall agree that, to the extent feasible, the company shall pass through to the patients at such health facilities in the form of lower patient charges, the interest cost savings achieved by the company as a result of the city issuing bonds for the financing or refinancing of the health facilities.
(K) In any project agreement entered into by the city for the financing or refinancing of health facilities, the company shall agree to obtain all necessary health planning approvals with respect to the health facilities proposed to be financed or refinanced by the city.
(1995 Code, § 12.04.110)