San Leandro Municipal Code Art. 2 Financing Facilities

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 party for the costs of a facility.

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 party to refund or refinance outstanding obligations of such participating party incurred to finance the costs of a facility, including expenses incident to paying or otherwise discharging the obligations to be refunded or refinanced, whether such obligations were incurred prior to or after the enactment of this Chapter, if the City finds that such refunding or refinancing is in the public interest and alleviates a financial or operating hardship of such participating party.

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 as lessor such facility to a participating party, and may contract with such participating party to undertake on behalf of City to construct, enlarge, remodel, renovate, alter, improve, furnish and equip such facility.

The City may sell or lease, upon such terms and conditions as the City shall deem proper, to a participating party any facility owned by the City under this Chapter, including a facility conveyed to the City in connection with a financing under this Chapter, but not being financed or refinanced hereunder.

Any person may apply to the City for approval as a participating party, for approval of a facility for financing under this Chapter and for approval of the costs of such facility to be financed. Applications shall set forth such information as the City may require in order to enable the City to evaluate the applicant, the proposed facility and its proposed costs.

The City Manager may adopt rules or regulations establishing such standards, requirements and conditions applicable to the financing of facilities, the eligibility of participating parties and the costs of facilities as the City Manager deems necessary or desirable to effectuate the purposes of this Chapter.

The City may 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 Chapter.

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 principal, or both, or any part thereof, on any loan, lease or sale obligation of any instrument evidencing or securing the same, made or entered into pursuant to the provisions of this Chapter; and may accept payment in such manner and form as provided therein in the event of default by a participating party, and may assign any such insurance or guarantee as security for bonds or loans.

The City may fix rents, payments, fees, charges and interest rates for financing under this Chapter 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 and loans, losses due to defaults or changes in other expenses related to this Chapter, including City administrative expenses.

The City may hold deeds of trust, mortgages or security interests in personal property as security for loans and other obligations of participating parties under this Chapter and may pledge or assign the same as security or repayment of bonds. Such deeds of trust, mortgages or security interests 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.

The City may employ such engineering, architectural, contracting, financial, accounting, legal or other services as may be necessary in the judgment of the City for the purposes of this Chapter.

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 Chapter.