9-4-625 - Financial assistance from federal government permitted.
9-4-625. Financial assistance from federal government permitted.
(1) In addition to the powers conferred upon an authority by other provisions of this part,an authority may:
(a) borrow money or accept contributions, grants, or other financial assistance from thefederal government in aid of any project or related activities concerning health, welfare,economic, educational, environmental, and similar problems of persons of medium and lowincome;
(b) take over or lease or manage any project or undertaking constructed or owned by thefederal government; and
(c) to these ends, comply with conditions and enter into contracts, covenants, mortgages,trust indentures, leases, or agreements considered necessary, convenient, or desirable.
(2) It is the purpose and intent of this part to authorize any authority to do all thingsnecessary or desirable to secure the financial aid or cooperation of the federal government in theprovision of decent, safe, and sanitary dwellings and maintaining a wholesome living environmentfor persons of medium and low income. To accomplish this purpose an authority may include inany contract for financial assistance with the federal government any provisions that the federalgovernment may require as conditions to its financial aid not inconsistent with the purposes of thispart.
Renumbered and Amended by Chapter 241, 1992 General Session