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NS-1664
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Last modified
1/3/2012 1:04:08 PM
Creation date
6/26/2003 10:08:07 AM
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City Clerk
Doc Type
Ordinance
Doc #
NS-1664
Date
1/3/1983
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parking facility and all real and personal property, land, <br />buildings, structures, facilities, equipment, fixtures and <br />furnishings related to any of the foregoing or required or <br />useful for the operation of a health facility. <br /> <br /> Health facility shall not include any facility, <br />place or building used or to be used primarily for sectarian <br />instruction or study or as a place for devotional activlties <br />or religious worship. <br /> <br /> (f) "Participating health institution" means a <br />private corporation or association authorized by the laws of <br />the State to provide or operate a health facility as defined <br />in this ordinance and which, pursuant to the provisions of <br />this ordinance, undertakes the financing of the acquisition, <br />construction, rehabilitation or improvement of a health <br />facility or undertakes the refunding or refinancing of <br />obligations incurred to finance such acquisition, <br />construction, rehabilitation or improvement. <br /> <br /> (g) "Revenues" means amounts received by the City <br />as repayment of principal, interest, and all other charges <br />with respect to a loan, lease, sublease or sale agreement <br />under this ordinance, any proceeds received by the City from <br />mortgage, hazard or other insurance on or with respect to <br />rents, charges, fees, income and receipts derived by the City <br />from the financing of a health facility under this ordinance, <br />any amounts received by the City as investment earnings on <br />moneys deposited in any fund or account securing bonds, and <br />such other moneys as the Council may, in its discretion, <br />lawfully designate as revenues. <br /> <br /> Section 4. LOANS FOR HEALTh FACILITIES. The City <br />may make, purchase, or otherwise contract for the making of a <br />mortgage or other loan, upon such terms and conditions as <br />theCity shall deem proper, to any participating health <br />institution for the cost of a health facility. <br /> <br /> Section 5. REFINANCING LOANS FOR HEALTH <br />FACILITIES. The City may make, purchase, or otherwise <br />contract for the making of, a mortgage or other secured or <br />unsecured loan, upon such terms and conditions as the City <br />shall deem proper, to any participating health institution to <br />refund or refinance outstanding obligations oi such <br />participating health institution incurred to finance the cost <br />of a health facility, including expenses incident to paying <br />or otherwise discharging the obligations to be refunded or <br />refinanced, whether such obligations were incurred prior to <br />or after the enactment of this ordinance, if the City finds <br />that such refunding or refinancing is in the public interest <br />and either alleviates a financial or operating hardship of <br /> <br /> <br />
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