Section 12. Any such corporation shall have power to receive loans and grants from the federal government or any agency or instrumentality thereof or from any other source, public or private, or to act as agent of or to co-operate with the federal government or any agency or instrumentality thereof on any project of the kind or character authorized by section three; provided that nothing in this section shall operate to impair the powers and duties of the housing board with respect to any such corporation or any project operated by it. Any such corporation shall also have power, subject to the provisions of section seven, to borrow money and to issue bonds, notes and other evidences of indebtedness and to secure the same by the mortgage of its property or the pledge of its revenues, and to do whatever is necessary or convenient to carry out and effectuate the provisions of this chapter.
Notwithstanding any other provisions of this chapter, any such corporation may borrow on mortgages insured or guaranteed by the federal government or any agency or instrumentality thereof to the extent permitted by the federal government or such agency or instrumentality, and may issue such stock, enter into such agreements or perform such acts as may be required by the federal government or its agency or instrumentality in connection with such insurance or guarantee.
Structure Massachusetts General Laws
Part I - Administration of the Government
Chapter 121a - Urban Redevelopment Corporations
Section 2 - Declaration of Public Necessity; Acquisition and Regulation of Private Property
Section 4 - Rules and Regulations of Housing Boards; Standards for Project Plans; Variations
Section 5 - Application for Approval of Project; Contents
Section 6 - Project Approval; Procedure
Section 6a - Contracts; Contents; Filing; Inspection; Approval; Collection of Amounts Payable
Section 6b - Notice of Hearing
Section 6c - Appeals; Procedure
Section 9 - Limitation in Repayment of Investment in Stock; Limitations of Dividends
Section 11 - Acquisition and Sale of Land or Interests in Land; Approval
Section 13 - Application to Change Type and Character of Buildings on Project; Approval
Section 15 - Application of Receipts in Excess of Authorized Expenditures
Section 16 - Rights, Privileges, Obligations and Duties of Corporation After Period of Organization
Section 16a - Successor in Interest to Corporation; Options; Filing of Certificate
Section 18 - Authority of Insurance Companies to Undertake Projects; Exceptions
Section 18c - Authority of Persons to Undertake or Acquire and Carry on Urban Redevelopment Projects