Tenn. Comp. R. & Regs. 0770-01-01-.06 - ACCEPTANCE OF AID AND GUARANTIES
Current through March 20, 2022
(1) Pursuant to
§§5 (13) (T.C.A. §13-23-115
(13) ) and 9 of the Act, T.C.A. §13-23-119, the Agency
Board, by Resolution, may accept gifts, grants, loans, contributions, or other
aid, including insurance and guaranties, from the Federal government, the State
of Tennessee or any agency thereof, or any other source in furtherance of the
purposes of the Act; do any and all things necessary in order to avail itself
of such aid; agree and comply with such conditions upon which such gifts,
grants, loans, contributions, insurance, guaranties or other aid may be made;
and, authorize and direct the execution on behalf of the Agency of any
agreement which it considers necessary or appropriate to implement any such
gifts, grants, loans, contributions, insurance, guaranties or other
aid.
(2) Without limitation on the
provisions of Rule 0770-1-1-.06(1) thereof, the Agency Board by Resolution may
accept any insurance or guaranty or commitment to insure or guarantee its bonds
or notes issued for the purpose of financing real property acquisition and
housing or land development, or both, pursuant to housing, community
development or other Federal or State assistance programs; accept any grant
with respect to such bonds or notes, whether insured, guaranteed or otherwise;
and accept any public service grants for providing essential public services,
and authorize and direct the execution on behalf of the Agency of any agreement
which it considers necessary or appropriate with respect thereto.
Notes
Authority: T.C.A. § 13-23-115(13).
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