12-4911. Same; leasing of home; conditions.
12-4911
12-4911. Same; leasing of home; conditions.
The governing body of the city may, by ordinance, declare that it is to
the best interests of such city to rent, lease or let the said home for the
aged; and thereupon, said governing body may, in its discretion, rent, let
or lease to a person for the purpose of maintaining and operating said home
for the aged upon such terms and conditions as the governing body may deem
to the best interests of the said city but the amount of the rent to be
paid by the person to whom the home for the aged is rented, leased or let
shall be sufficient to pay the cost of the repair and maintenance of the
building, and pay the principal amount of and the interest upon the revenue
bonds which have been issued to acquire a site for, construct and equip the
home for the aged.
History: L. 1965, ch. 146, § 11; June 30.