Government instrumentalities to cooperate with agency.

For the purpose of aiding and cooperating in the planning, undertaking, construction, or operation of redevelopment projects located within the area in which it is authorized to act, any instrumentality of the government, may upon such terms, with or without consideration, as it may determine:

(1) Dedicate, sell, convey, or lease any of its property to a redevelopment agency;

(2) Cause parks, playgrounds, recreational, community, educational, water, sewer, or drainage facilities or any other works which it is otherwise empowered to undertake, to be furnished adjacent to or in connection with redevelopment projects;

(3) Furnish, dedicate, close, pave, install, grade, regrade, plan or replan streets, roads, roadways, alleys, sidewalks, or other places which it is otherwise empowered to undertake;

(4) Enter into agreements (which may extend over any period, notwithstanding any provision or rule of law to the contrary) with the federal government or any other public body or bodies respecting action to be taken pursuant to any of the powers granted by this part, including the furnishing of funds or other assistance in connection with projects being or to be undertaken pursuant to this part;

(5) Purchase or legally invest in any of the bonds of an agency and exercise all of the rights of any holder of the bonds;

(6) Reimburse the agency for lands acquired and transferred or dedicated by the agency for public purposes. [L 1949, c 379, pt of §4; am L 1955, c 271, §1(h); RL 1955, §143-11; HRS §53-11]