CUMBERLAND                                       2179

230.

(a) Said authority shall have the power to acquire, by purchase, lease, or any
other legal means, real and/or personal property, or any rights or interests therein,
to be held in the name of the mayor and city council of Cumberland, for the
purpose of developing, establishing, constructing, erecting, altering, expanding,
enlarging, improving and equipping LOTS, buildings, structures and other
facilities, INCLUDING PARKING METERS AND STREET
IMPROVEMENTS TO FACILITATE MOVEMENT OF VEHICULAR
TRAFFIC, on, under, or in said land or property, or on, under, or in any land or
property that is now or hereafter may be owned or otherwise held or controlled by
the mayor and city council of Cumberland, for storing, parking and servicing
motor vehicles AND, IN CONJUNCTION THEREWITH, FOR ANY
RETAIL OR COMMERCIAL PURPOSE WHICH THE AUTHORITY
DEEMS TO BE NECESSARY OR APPROPRIATE TO ANY ONE OR
MORE PARKING FACILITY OR FACILITIES; and provided further, that all
of said land, property or improvements shall be developed, improved, held or
disposed of as provided by law.

(d) In addition to the power to operate off-street parking facilities, said
authority shall be empowered and authorized to lease any such facility under its
jurisdiction and control to private individuals, firms or corporations, upon such
terms and under such conditions as said authority may deem proper; provided,
however, that no lease or other agreement may be entered into until after
invitation has been offered for public bids for such lease proposals, said invitation
to bid to be advertised in a newspaper of general circulation in the City of
Cumberland at least twenty (20) days prior to the opening of said bids. THE
RIGHT IS RESERVED TO REJECT ANY AND ALL BIDS. [No bids shall be
accepted unless the rental proposed by the prospective lessee shall be sufficient to
amortize the payments of principal and interest, if any there shall be, as the same
shall become due and payable on the property or parking facility which is to be the
subject of said lease or agreement.]

232.

(c) For the purpose of financing and carrying out the proper functions of said
authority, as hereinbefore enumerated ( PARTICULARLY THE COST OF
ACQUIRING, DEVELOPING, CONSTRUCTING, ERECTING, ALTERING,
EXPANDING, ENLARGING, IMPROVING, AND EQUIPPING ANY
PARKING FACILITIES, INCLUDING LOTS, BUILDINGS, STRUCTURES
AND OTHER FACILITIES IN CONNECTION THEREWITH INCLUDING
PARKING METERS AND STREET IMPROVEMENTS TO FACILITATE
MOVEMENT OF VEHICULAR TRAFFIC IN THE VICINITY OF
PARKING AREAS AND ANY RETAIL OR COMMERCIAL STRUCTURES
OR FACILITIES WHICH THE AUTHORITY DEEMS TO BE NECESSARY
OR APPROPRIATE TO ONE OR MORE PARKING FACILITIES, SUCH
COST TO INCLUDE THE COST OF ACQUISITION OF ALL PROPERTY
RIGHTS, ARCHITECTURAL AND ENGINEERING SERVICES AND ALL
FINANCING EXPENSES), the mayor and city council may, upon
recommendation of THE [said] authority, issue and sell its general obligation
bonds. [Any bonds issued by the mayor and city council pursuant to this section]
THE BONDS shall be issued in the manner and within the limitations prescribed
by applicable law for the issuance of general obligation bonds by the mayor and
city council of Cumberland, [and also within the limitations contained within
Section 81 of the Charter of the City of Cumberland, and other applicable Charter
provisions, ordinances and laws.] EXCEPT THAT NEITHER THE BONDS
NOR THE INDEBTEDNESS REPRESENTED BY THE BONDS SHALL
CONSTITUTE AN INDEBTEDNESS WITHIN THE MEANING OF