, 1959-12-07
THE ST. cROIx AVIS

LEGISLATIVE RECORD Continued
Continued from Saturday,
(g) TO covenant as to the use Of any Or all Of its real
or personal property; and to covenant as to the mainten-'
ance Of its real and personal property, the replacement
thereof, the insurance to be carried thereon and the use
and disposition Of insurance moneys.
h) TO covenant as to the rights, liabilities, powers
and duties arising upon the breach by it Of any covenant,
condition, or obligation; and to covenant and prescribe as.
to events of default and terms and conditions upon which
any or all of its bonds or obligations shall become or may
be declared due before maturity, and as to the terms and
conditions upon which such declaration and its conse-
quences may be waived.
ID To vest in a trustee Or trustees or the holders Of
bonds or any proportion Of them the right to enforce the
payment Of the bonds or any covenants securing orgre1at
ing to the bonds; to vest in a ~trusteeAor trustees the right,
i'll the event Of q default by said Department, to take pos
session and use, operate and manage any housing project
or part thereof, and to collect the rents and revenues arts
ING thereform and to dispose such moneys in accordance
with the agreement Of the Department with said trustee;
to provide for the powers and duties of a trustee or trustees
and to limit the liabilities thereof; and to provide the
terms and conditions upon which the trustee or trustees
or holders of bonds or any proportion OF them may enforce
any covenant or rights securing or relating TO the bonds.
CD To exercise all or any part or combination of the
powers herein granted; to make covenants other than and
iii addition to the covenants herein expressly authorized,
Of like or different character; to make such covenants and
to do any and all such acts and things as may be necessary
or convenient or desirable in order to secure its bonds, or,
in the absolute discretion Of said Department, as will tend
to make the bonds more marketable otwithstandingtha
such covenants, acts or things may not be enumerated
herein.
k In addition to the powers conferred upon the
Department by other provisions of this Act of this title, in
any contract with the Federal Government for annual con-
tributions to the Department, it may obligate itself (which
obligation shall be specifically enforceable and shall not
constitute mortgage, Notwithstanding any other laws to
convey to the Federal Government possession. OF or title
to the project to which such contract relates, upon the
occurrence Of a substantial default Gas defined in such con-
tract) with respect to the covenants or conditions to which
the Department is subject; such contract may further pro-
vide that in case of such conveyance, the Federal Govern
ment may complete, operate, manage, lease, convey or
otherwise deal with the project in accordance. with the
terms Of such contract; provided that the contract re-
uuires that, as soon as practicable after the Federal Gov
eminent is satisfied that all defaults with respect to the
project have been cured and that the project will there
after be operated in accordance with the terms Of the con-
tract, the Federal Government shall reconvey to the De