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<br /> DES:djc 2/28/86 <br />applicable to similar employment by the City, unless by <br />resolution the City Council otherwise determines. <br />Section 3.02. Acquisition and Disposal of Property; <br />Facility; Insurance. The Authority may: <br /> (a) Purchase, lease, obtain option upon, acquire by <br />gift, grant, bequest, devise, or otherwise, any real or <br />personal property within the City, or any interest in, or <br />improvements on such property. <br /> (b) Sell, lease, exchange, transfer, assign, encumber <br /> (by mortgage, deed of trust, or otherwise) or otherwise <br />dispose of any real or personal property or any interest in <br />such property. <br /> (c) Insure any of its real or personal property or <br />operations against risks or hazards. <br />Section 3.03. Maintenance and Management. The Authority <br />may acquire, construct, rent, lease, maintain, repair, manage and <br />operate all or any portion of any real and personal property, <br />including the leasing of the operation of the property, and the <br />leasing for commercial purposes of surplus space or space which <br />it is not economic to use for public purposes; provided, that <br />such leasing, in any transaction financed on a tax exempt basis, <br />shall be restricted to less than a major portion of the property <br />acquired or constructed on such basis, as now or hereafter <br />defined by Federal law or applicable regulation. Leases may be <br />negotiated without competitive bidding or awarded after <br /> 6 <br /> _....... <br />