Title 07 Finance
Chapter 07.16 Public/Private Partnership Agreement Requirements
Section 07.16.030 Security for City Involved Financing
- In all circumstances in which private, for-profit, entities seek City assistance through the brokering and/or a guarantee of economic development loans, the City shall require a guaranty, collateral, letter of credit, and/or other loan securitization depending on the scope and nature of the project. The city council, by a majority vote and after a public hearing on the matter, may affirmatively waive this requirement if there is agreement not to require additional security
Date Passed: Monday, December 8, 2014
Effective Date: Sunday, January 25, 2015
ORD C35193 Section 1
