§201H-14  Contracts with the federalgovernment.  (a)  The corporation may:

(1)  Borrow money or accept grants from the federalgovernment for or in aid of any housing project that the corporation isauthorized to undertake;

(2)  Take over any land acquired by the federalgovernment for the construction or operation of a housing project with theapproval of the federal government or at the request of the federal government;

(3)  Procure insurance or guarantees from the federalgovernment for the payment of any debts or parts thereof secured by mortgagesmade or held by the corporation on any property included in any housingproject;

(4)  Comply with any conditions required by thefederal government in any contract for financial assistance; and

(5)  Execute contracts with the federal government.

(b)  It is the purpose and intent of this partto authorize the corporation to do any and all things necessary to secure thefinancial aid and the cooperation of the federal government in the undertaking,construction, maintenance, and operation of any housing project that thecorporation is empowered to undertake. [L 2005, c 196, pt of §20; am L 2006, c180, §11]