§ 29-4-223 — Contracts with federal government

(1) In addition to the powers
conferred upon the authority by other provisions of this part 2, the authority is
empowered:

(a) To borrow money from the federal government to finance the
construction of any project which such authority is authorized by this part 2 to
undertake;

(b) To take over any land acquired by the federal government for the
construction of a project; and

(c) To take over, lease, or manage any project so constructed or owned by
the federal government and, to that end, to enter into any such contracts,
mortgages, trust indentures, leases, or other agreements as the federal
government may require in such connection.

(2) Such contracts, mortgages, trust indentures, leases, or other agreements
may provide that the federal government has the right to supervise and approve the
construction, maintenance, and operation of such project.

(3) It is the purpose and intent of this part 2 to authorize such authority to
accept the cooperation of the federal government in the construction, maintenance,
and operation and in the financing of the construction of any project which the
authority is empowered by this part 2 to undertake. Such authority has full power to
do all things necessary in order to secure such aid, assistance, and cooperation.

Legislative History

Source: L. 35: p. 549, � 23. CSA: C. 82, � 51. CRS 53: � 69-3-23. C.R.S. 1963: � 69-3-23.