7-15-4502. Powers related to loans.
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/mt/title-7/chapter-15/part-45/7-15-4502·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
7-15-4502 . Powers related to loans. An authority shall have power:
(1)to borrow money upon its bonds, notes, debentures, or other evidences of indebtedness and to secure the same by pledges of its revenues and (subject to the limitations hereinafter imposed) by mortgages upon property held or to be held by it or in any other manner;
(2)in connection with any loan, to agree to limitations upon its right to dispose of any housing project or part thereof or to undertake additional housing projects;
(3)in connection with any loan by a government, to agree to limitations upon the exercise of any powers conferred upon the authority by this part and part 44;
(4)to invest any funds held in reserves or sinking funds or any funds not required for immediate disbursement in property or securities in which savings banks may legally invest funds subject to their control.