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



(1)  Borrow money or accept grants from the federal
government for or in aid of any housing project that the corporation is
authorized to undertake;



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



(3)  Procure insurance or guarantees from the federal
government for the payment of any debts or parts thereof secured by mortgages
made or held by the corporation on any property included in any housing
project;



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



(5)  Execute contracts with the federal government.



(b)  It is the purpose and intent of this part
to authorize the corporation 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 that the
corporation is empowered to undertake. [L 2005, c 196, pt of §20; am L 2006, c
180, §11]