San Diego Municipal Code Div. 2 Financing Health Facilities

(“Financing Health Facilities” added 11–13–1979 by O–15074 N.S.)

The City may make, purchase, or otherwise contract for the making of a mortgage or other secured or unsecured loan, upon such terms and conditions as the City shall deem proper, to any participating health institution for the cost of acquiring, constructing, rehabilitating or improving a health facility; provided, however, that no such loan shall exceed the total cost of such health facility as determined by the participating health institution and approved by the City. (“Loan for a Health Facility” added 11–13–1979 by O–15074 N.S.)

The City may make, purchase, or otherwise contract for the making of a mortgage or other secured or unsecured loan, upon such terms and conditions as the City shall deem proper, to any participating health institution to refund or refinance outstanding obligations of such participating health institution incurred to finance the cost of acquiring, constructing, rehabilitating or improving a health facility, whether such obligations were incurred prior to or after the enactment of this article, if the City finds that such refunding or refinancing is in the public interest and either alleviates a financial or operating hardship of such participating health institution or is necessary or appropriate in connection with other financing by the City for such participating health institution or may be expected to result in lower costs of health care than would otherwise prevail and a saving to third parties, including government, and to others who must pay for care, or any combination thereof. (“Loan to Refund or Refinance a Health Facility” added 11–13–1979 by O–15074 N.S.)

The City may acquire, construct, enlarge, remodel, renovate, alter, improve, furnish, equip, own and lease as lessee a health facility for the purpose of selling or leasing such health facility to a participating health institution, and may designate such participating health institution as its agent to undertake to construct, enlarge, remodel, renovate, alter, improve, furnish and equip such health facility.

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San Diego Municipal Code Chapter 4: Health and Sanitation (6-2000)

The City may sell or lease, upon such terms and conditions as the City shall deem proper, to a participating health institution any health facility owned by the City under this article, including a health facility conveyed to the City in connection with a financing under this article but not being financed or refinanced hereunder. (“Sale or Lease of a Health Facility by City” added 11–13–1979 by O–15074 N.S.)

The City may charge participating health institutions 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. (“Recovery of Costs and Expenses by City” added 11–13–1979 by O–15074 N.S.)

The City may 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 principle, or both, or any part thereof, on any loan, lease or sale obligation or any instrument evidencing or securing the same, made or entered into pursuant to the provisions of this article; and may accept payment in such manner and form as provided therein in the event of default by a participating health institution, and may assign any such insurance or guarantee as security for bonds. (“Insurance or Guarantee of Payment” added 11–13–1979 by O–15074 N.S.)

The City may fix rents, payments, fees, charges and interest rates for financing under this article and may 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 expenses related to this article, including City administrative expenses. (“Fixing Rents, Fees, Rates, Etc.” added 11–13–1979 by O–15074 N.S.)

The City may hold deeds of trust or mortgages as security for loans under this article and may pledge or assign the same as security for repayment of bonds. Such deeds of trust or mortgages may be assigned to, and held on behalf of the City, by any bank or trust company appointed to act as trustee by the City in any resolution or indenture providing for issuance of bonds. (“Deeds of Trust or Mortgages as Security” added 11–13–1979 by O–15074 N.S.)

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San Diego Municipal Code Chapter 4: Health and Sanitation (6-2000)

The City may employ such engineering, architectural, financial, accounting, legal or other services as may be necessary in the judgment of the City for the purposes of this article. (“Employment of Experts and Consultants” added 11–13–1979 by O–15074 N.S.)

In addition to all other powers specifically granted by this chapter, the City may do all things necessary or convenient to carry out the purposes of this article. (“Do All Things Necessary and Convenient” added 11–13–1979 by O–15074 N.S.)

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San Diego Municipal Code Chapter 4: Health and Sanitation (6-2000)

Article 7: City of San Diego Health Facility Revenue Bond Law