In addition to the powers conferred upon the authority by other provisions of this chapter, the authority is empowered to borrow money or accept grants from the federal government for or in aid of any housing project which such authority is authorized to undertake, to take over any land acquired by the federal government for the construction or operation of a housing project, to take over or lease or manage any housing project constructed or owned by the federal government, and to these ends to enter into such contracts, mortgages, trust indentures, leases or other agreements as the federal government may require, including agreements that the federal government shall have the right to supervise and approve the construction, maintenance and operation of such housing project. It is the purpose and intent of such law to authorize every authority 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 which the authority is empowered to undertake.
Structure 2021 Tennessee Code
Title 13 - Public Planning and Housing
Chapter 20 - Housing Authorities Law
Part 6 - Bonds and Finances of Housing Authorities
§ 13-20-603. Trust Indentures and Mortgages — Power of Authority to Issue or Incur Obligation
§ 13-20-604. Power to Mortgage When Project Financed With Aid of Government
§ 13-20-605. Remedies of an Obligee of Authority
§ 13-20-606. Remedies Conferrable Upon Authority by Mortgage or Trust Indenture
§ 13-20-607. Remedies and Rights Cumulative
§ 13-20-609. Subordination of Mortgage to Agreement With Government
§ 13-20-610. Contracts With Federal Government
§ 13-20-611. Agreement to Sell as Security for Obligations to Federal Government
§ 13-20-613. Investment by Municipality in Bonds of Authority