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U.S. Code as of:
01/19/04
Section 910. Slum clearance and urban redevelopment and renewal projects; powers of government
The government of Puerto Rico acting through its legislature, may
create a public corporate authority or authorities and may
authorize such authority or authorities or any other public
corporate authority or any municipal corporation or political
subdivision, acting directly or through any officer or agency
thereof or through a public corporate authority, to undertake slum
clearance and urban redevelopment projects and urban renewal
projects and to do all things, exercise any and all powers, and to
assume and fulfill any and all obligations, duties,
responsibilities, and requirements, including but not limited to
those relating to planning and zoning, necessary or desirable for
receiving Federal assistance under title I of the Housing Act of
1949 (Public Law 171, Eighty-first Congress), as amended [42 U.S.C.
1450 et seq.], or any other law, except that public corporate
authorities (as distinct from municipalities or political
subdivisions) created or authorized to operate in accordance with
this Act, as amended, shall not be given any power of taxation or
any power to pledge the full faith and credit of the people of the
Territory, or municipality, or political subdivision, as the case
may be, for any loan whatever. The Legislature of Puerto Rico may,
with respect to any public corporate authority or authorities
empowered or which may be empowered to undertake slum clearance and
urban redevelopment projects and urban renewal projects, provide
for the appointment and terms of office of the members thereof, and
for the powers of such authorities, including authority to accept
whatever benefits the Federal Government may make available for
slum clearance and urban redevelopment projects and urban renewal
projects, and authority, notwithstanding any other Federal law, to
borrow money and to issue notes, bonds, and other obligations of
such character and maturity, with such security, and in such manner
as the respective legislatures may provide. Such notes, bonds, and
other obligations shall not be a debt of the United States, or of
any Territory or municipal corporation or other political
subdivision or agency thereof other than the public corporate
authority which issued such notes, bonds, or obligations, nor
constitute a debt, indebtedness, or the borrowing of money within
the meaning of any limitation or restriction on the issuance of
notes, bonds, or other obligations contained in any laws of the
United States applicable to Puerto Rico, or to any municipal
corporation or other political subdivision or agency thereof.
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