[§201H-14] Contracts with federal government. [Section effective July 1, 2006.] (a) The administration may:
(1) Borrow money or accept grants from the federal government for or in aid of any housing project that the administration 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 of the payment of any debts or parts thereof secured by mortgages made or held by the administration on any property included in any housing project; and
(4) Comply with any conditions required by the federal government in any contract for financial assistance.
(b) It is the purpose and intent of this [chapter] to authorize the administration 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 administration is empowered to undertake. [L 2005, c 196, pt of §20]