7-57-310 - Borrowing Federal and state grants and contracts. - Tennessee Statutes

7-57-310. Borrowing Federal and state grants and contracts.

(a)  In addition to the powers conferred upon authorities by other provisions of this chapter, authorities are also empowered to:

     (1)  Borrow money or accept grants from the federal or state governments for or in aid of the construction of any hospital project that such authority is authorized by this chapter to undertake;

     (2)  Take over any land acquired by the federal or state governments for the construction of a hospital project, with the approval of the governing bodies of the creating and participating municipalities;

     (3)  Take over, lease or manage any hospital project constructed or owned by the federal or state government; and

     (4)  Enter into such contracts, mortgages, trust indentures, leases or other agreements that the federal or state government shall have the right to supervise and approve the construction, maintenance and operation of such hospital project.

(b)  It is the purpose and intent of this chapter to authorize every authority to do any and all things necessary to secure the financial aid and the cooperation of the federal and state governments in the construction, maintenance and operation of any hospital project that the authority is empowered by this chapter to undertake.

[Acts 1971, ch. 316, § 19; T.C.A., § 6-4022.]