§ 36-7-18-35 — Federal, state, and other aid

(a) A housing authority may do all things
necessary or desirable to secure the financial aid or cooperation of the
federal government in the undertaking, construction, maintenance, or
operation of a housing project by the authority, including:
(1) borrowing money or accepting grants or other financial
assistance from the federal government for or in aid of a housing
project;
(2) taking over, leasing, or managing a housing project or
undertaking constructed or owned by the federal government; and
(3) complying with any conditions and entering into any
mortgages, trust indentures, leases, or other agreements that are
necessary or desirable under this subsection.
(b) A housing authority may accept aid from the state, political
subdivisions, or private persons.
(c) Notwithstanding subsections (a) and (b), a housing authority
may not incur any indebtedness to the federal government, or to any
other public or private agency, that matures more than fifty (50) years
after letting of contracts for the projects.
[Pre-Local Government Recodification Citation:
18-7-11-20.]
As added by Acts 1981, P.L.309, SEC.37.