35A-8-423. Financial assistance from federal government permitted.

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A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(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 the federal government in aid of a project or related activity concerning health, welfare, economic, educational, environmental, or related issues faced by persons of medium and low income;

(b)take over, lease, or manage a project or undertaking constructed or owned by the federal government; and

(c)comply with conditions and enter into contracts, covenants, mortgages, trust indentures, leases, or agreements considered necessary, convenient, or desirable to accomplish the purposes of Subsections (1)(a) and

(b).

(a)The purpose and intent of this part is to authorize an authority to do everything necessary or desirable to secure the financial aid or cooperation of the federal government in the provision of decent, safe, and sanitary dwellings and maintaining a wholesome living environment for persons of medium and low income.

(b)To accomplish the purpose of Subsection (2)(a) an authority may include in a contract for financial assistance with the federal government the provisions that the federal government may require as conditions to the federal government's financial aid unless those provisions are inconsistent with the purposes of this part.

Renumbered and Amended by Chapter 212 , 2012 General Session