§ 157-23. Contracts with federal government. - North Carolina Statutes

§ 157‑23. Contracts with federal government.

In addition to the powers conferred upon the authority by otherprovisions of this Article, the authority is empowered to borrow money and/oraccept grants from the federal government for or in aid of the construction ofany housing project which such authority is authorized by this Article toundertake, to take over any land acquired by the federal government for theconstruction of a housing project, to take over or lease or manage any housingproject constructed or owned by the federal government, and to these ends, to enter into such contracts, mortgages, trust indentures, leases or otheragreements as the federal government may require including agreements that thefederal government shall have the right to supervise and approve theconstruction, maintenance and operation of such housing project. It is thepurpose and intent of this Article to authorize every authority to do any andall things necessary to secure the financial aid and the cooperation of the federalgovernment in the construction, maintenance and operation of any housingproject which the authority is empowered by this Article to undertake. (1935, c. 456, s. 23.)