Berkeley Municipal Code Art. 2 Financing Facilities

The City 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 shall deem proper, to any participating party for the costs of facilities. (Ord. 5683-NS § 4, 1985)

The City is hereby authorized to acquire, construct, enlarge, remodel, renovate, alter, improve, furnish, equip and lease as lessee, with the proceeds of bonds, facilities solely for the purpose of selling or leasing as lessor such facilities to such participating party, and is further authorized to make any contracts for such purposes. The City is also authorized to contract with such participating party to undertake on behalf of the City to construct, enlarge, remodel, renovate, alter, improve, furnish and equip such facilities.

The City is authorized to sell or lease, upon such terms and conditions as the City shall deem proper, to a participating party any facilities conveyed to the City under this chapter, including facilities conveyed to the City in connection with a financing authorized by this chapter but not being financed hereunder. (Ord. 5683-NS § 5, 1985)

In addition to all other powers specifically granted by this chapter, the City is hereby authorized to contract for and do all things necessary or convenient to carry out the purposes of this chapter, provided, however, that the City shall not have the power to operate a facility financed under this chapter as a business, except temporarily in the case of a default by a participating party. (Ord. 5683-NS § 6, 1985)