§ 2490-e. Acquisition of land for the project. 1. The authority may
acquire lands by purchase or condemnation for the project. It shall have
the power to sell, lease or otherwise dispose of said real property and
shall retain and have the power to use the proceeds of sale, rental or
other moneys derived from the disposition thereof for its purposes.

2. Notwithstanding any law to the contrary the city may, by legal
instrument authorized by a resolution, lease real property owned by the
city to the authority, with or without consideration, for so long as the
authority's existence shall continue.

3. Notwithstanding any other provision of law, the city may by legal
instrument authorized pursuant to resolution, purchase, lease, license
or otherwise acquire the project or any interest therein, including
terms of years; and, by resolution, establish a capital reserve fund for
the purpose of financing all or a part of the cost of such purchase,
lease, license or other acquisition, including rent related to the
acquisition of a leasehold interest in the project, and make
expenditures from such fund for such purposes.