Acceptance Of Aid And Guaranties

(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 GENERAL PROVISIONS CHAPTER 0770-1-1 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.