§206-17 Additional powers. The board of land and natural resources, in addition to its powers and notwithstanding anything to the contrary contained in this chapter or in any other provision of law, may:
(1) Agree to any conditions attached to federal financial assistance relating to the determination of prevailing salaries or wages or payment of not less than prevailing salaries or wages or compliance with labor standards, in the development or administration of projects, and include in any construction contract, let in connection with a project, stipulations requiring that the contractor and any subcontractors comply with requirements as to minimum salaries or wages and maximum hours of labor, and comply with any conditions which the federal government may attach to its financial aid of the projects;
(2) Procure or agree to the procurement of insurance or guarantees from a government for the payment of any debts, or parts thereof, incurred by the board, including the payment of premiums on any insurance;
(3) Purchase its bonds at a price not more than the principal amount thereof and accrued interest, and all bonds so purchased shall be canceled. [L 1961, c 6, §15; Supp, §98J-15; HRS §206-17]