§ 13-20-610 — Contracts with federal government

In addition to the powers conferred upon the authority by other provisions of this chapter, the authority is empowered to borrow money or accept grants from the federal government for or in aid of any housing project which such authority is authorized to undertake, to take over any land acquired by the federal government for the construction or operation of a housing project, to take over or lease or manage any housing project constructed or owned by the federal government, and to these ends to enter into such contracts, mortgages, trust indentures, leases or other agreements as the federal government may require, including agreements that the federal government shall have the right to supervise and approve the construction, maintenance and operation of such housing project. It is the purpose and intent of such law to authorize every authority to do any and all things necessary to secure the financial aid and the cooperation of the federal government in the undertaking, construction, maintenance and operation of any housing project which the authority is empowered to undertake.

Legislative History

Acts 1935 (Ex. Sess.), ch. 20, § 23; C. Supp. 1950, § 3647.22 (Williams, § 3647.23); T.C.A. (orig. ed.), § 13-1110.