Title 2 — FINANCING FACILITIES

The City and County is hereby authorized to make, purchase, or otherwise contract for the making of, a mortgage or other secured or unsecured loan, with the proceeds of Bonds and upon such terms and conditions as the City and County shall deem proper, to any Participating Party for the Costs of a Facility.

(Added by Ord. 12-00, File No. 992117, App. 2/11/2000)

The City and County is authorized to acquire, construct, enlarge, remodel, renovate, alter, improve, furnish, equip and lease as lessee, with the proceeds of Bonds, a Facility solely for the purpose of selling or leasing as lessor such Facility to such Participating Party, and is further authorized to make any contracts for such purposes. The City and County is also authorized to 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 Facility.

The City and County is authorized to sell or lease, upon such terms and conditions as the City and County shall deem proper, to a Participating Party any Facility owned by the City and County under this Article, including a Facility conveyed to the City and County in connection with a financing authorized by this Article but not being financed hereunder.

(Added by Ord. 12-00, File No. 992117, App. 2/11/2000)

Any person may apply to the Responsible Department for approval as a Participating Party and for approval of a Facility for financing under this Article. Applications shall set forth such information as the Responsible Department may require in order to enable the Responsible Department to evaluate the applicant, the Facility and its proposed costs.

(Added by Ord. 12-00, File No. 992117, App. 2/11/2000)

The City and County is hereby authorized to charge Participating Parties application, commitment, financing and other fees, in order to recover all administrative and other costs and expenses incurred in the exercise of the powers and duties' conferred by this Article. The Responsible Department shall transmit a letter agreement or contract to a Participating Party which will obligate such party to pay such fees and expenses as the City and County may charge or incur hereunder.

(Added by Ord. 12-00, File No. 992117, App. 2/11/2000)

The City and County is hereby authorized to obtain, or aid in obtaining, from any department or agency of the United States or of the State of California or any private company, any insurance or guarantee as to, or of, or for the payment or repayment of, interest or principal, or both, rents, fees or other charges, or any part thereof, on any loan, lease or sale obligation or any instrument evidencing or securing the same, made or entered into as authorized by this Article; and is authorized to accept payment in such manner and form as provided therein in the event of default by a Participating Party, and to assign any such insurance or guarantee as security for Bonds.

(Added by Ord. 12-00, File No. 992117, App. 2/11/2000)

The City and County is hereby authorized to fix rents, payments, fees, charges and interest rates for a financing authorized by this Article and to agree to revise from time to time such rents, payments, fees, charges and interest rates to reflect changes in interest rates on Bonds, losses due to defaults or changes in other administrative expenses.

(Added by Ord. 12-00, File No. 992117, App. 2/11/2000)

The City and County is hereby authorized to hold deeds of trust or mortgages or security interests in personal property as security for loans and other obligations authorized by this Article and to 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 and County in any Facility, may be assigned to, and held on behalf of, the City and County by any bank or trust company appointed to act as trustee by the City and County in any resolution or indenture providing for the issuance of Bonds.

(Added by Ord. 12-00, File No. 992117, App. 2/11/2000)

The City and County is hereby authorized to contract for such engineering, architectural, financing, accounting, leasing, legal or other professional services as may be necessary in the judgment of the City and County to accomplish the purposes of this Article.

(Added by Ord. 12-00, File No. 992117, App. 2/11/2000)

Except as specifically provided in this Article, the acquisition, construction, installation, reconstruction, rehabilitation or improvement of a Facility financed under this Article shall not be subject to any requirements relating to buildings, works or improvements owned or operated by the City and County, and any requirement of public competitive bidding or other procedural restriction imposed on the award of contracts for acquisition or construction of a City and County building, work or improvement or to the lease, sublease, sale or other disposition of City and County property shall not be applicable to any action taken under this Article.

(Added by Ord. 12-00, File No. 992117, App. 2/11/2000)

In addition to all other powers specifically granted by this Article, the City and County is hereby authorized to contract for and do all things necessary or convenient to carry out the purposes of this Article, provided, however, that the City and County shall not have the power to operate a Facility financed under this Article as a business, except temporarily in the case of a default by a Participating Party.

(Added by Ord. 12-00, File No. 992117, App. 2/11/2000)