A. The city is authorized to acquire, construct, enlarge, remodel, renovate, alter, improve, furnish, equip and lease as lessee, with the proceeds of bonds, a facility solely for the purpose of selling or leasing as lessor such facility to such participating party, and is further authorized to make any contracts for such purposes. The city is also authorized to contract with such participating party to undertake on behalf of the city to construct, enlarge, remodel, renovate, alter, improve, furnish and equip such facility.

B. The city is authorized to 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 authorized by this chapter but not being financed hereunder. (Ord. 2737 § 1, 1982)