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II. Power and Purposes
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The city is authorized and empowered:

A. To determine the location and character of any historical property and to finance the rehabilitation of such historical property by making or purchasing loans to participating parties therefor;

B. To issue bonds for the purpose of financing or otherwise assisting the rehabilitation of historical property authorized by this chapter and for the purpose of funding or refunding bonds;

C. To fix fees, charges and interest rates for financing of the rehabilitation of historical property, and to revise such fees, charges and interest rates from time to time, and to collect interest and principal on any loan made to a participating party together with such fees and charges incurred in such financing, and to contract with any person, partnership, association, corporation or public agency with respect thereto;

D. To hold deeds of trust and financing statements as security for financing of the rehabilitation of historical property and to pledge the same and any lien upon the historical property as security for repayment of bonds issued therefor;

E. To establish the terms and conditions for the financing of the rehabilitation of historical property undertaken pursuant to this chapter;

F. To require that the full amount owed on any loan for the financing of the rehabilitation of historical property pursuant to this chapter shall be due and payable upon sale or other transfer of ownership of such historical property;

G. To acquire, by deed, purchase, lease, contract, gift, devise, or otherwise, any real or personal property, structures, rights, rights-of-way, franchises, easements, deeds of trust, mortgages and other interests in property located within the state necessary or convenient for the financing of the rehabilitation of historical property, upon such terms and conditions as it deems advisable, and to lease, sell or otherwise dispose of the same in such manner as may be necessary or desirable to carry out the objects and purposes of this chapter;

H. To employ or contract for such engineering, architectural, accounting, collection, economic feasibility, or other services in connection with the servicing of loans made to participating parties, as may be necessary in the judgment of the council for the successful financing of the rehabilitation of historical property, to pay the reasonable costs of consulting engineers, architects, accountants, construction experts, and economic feasibility experts, if, in the judgment of the council, such services are necessary to the successful financing of the rehabilitation of historical property and if the city is not able to provide such services and to employ, contract for, and fix the compensation of financing consultants, bond counsel, and other advisers as may be necessary in its judgment to provide for the issuance and sale of bonds;

I. In addition to all other powers specifically granted in this chapter, to do all things necessary or convenient to carry out the purposes of this chapter. (Ord. 2675 § II(1), 1981)