§ 8-4.202. Refinancing Loans for Health Facilities.
Latest version.
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 a health 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 either alleviates a financial or operating
hardship of such participating health institution, or is 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.
(Added by Ord. 2552-C.S., § 1, effective 11-19-87)
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