Section 125.109. Acceptance of aid and guarantees.

(1) Pursuant to sections 22(c) and 22(k) of the act, the authority, by resolution, may accept gifts, grants, loans or other aid, including guarantees, from the federal government or any persons or corporations, agree and comply with any condition attached thereto, and authorize and direct the execution on behalf of the authority or any  agreement   which  it  considers   necessary  or  appropriate   to implement   any such gifts, grants, loans, guarantees or other aid.

(2) Without limitation on the provisions of subrule (1), the authority by resolution may accept any guarantee  or  commitment   to  guarantee   its bonds or  notes  issued for the purpose of financing real property acquisition   and  land   development pursuant    to    community      development programs, accept any grant with respect to

bonds or notes guaranteed and accept any public service grants for providing essential public  services, including educational, health  and  safety   services,  and   authorize and direct the execution on behalf of the authority of any agreement which it considers necessary or appropriate with respect thereto.

History: 1979 AC.