Notwithstanding the provisions of section seventeen or any other section of the act to which this act is a supplement, or of article one of chapter twenty-seven of Title 52, State Government, Departments, Officers, of the Revised Statutes, or of any other law, any municipality which pursuant to the act to which this act is a supplement shall have entered into a contract with the Administrator of the Public Housing and Development Authority in the Department of Conservation and Economic Development relating to the acquisition, construction, erection, alteration, reconstruction, furnishing, improvement or equipping of emergency housing as defined in said act, is hereby authorized and empowered to authorize and issue its bonds for the purpose of financing all or any part of the cost of such emergency housing including the installation of the necessary services and facilities or the acquisition of the necessary land therefor, in such principal amount as shall prior to final adoption of the ordinance hereinafter mentioned be certified by the Commissioner of Conservation and Economic Development as necessary to meet costs of such emergency housing not met or required to be met under said contract by the State of New Jersey.

L.1950, c. 204, p. 448, s. 1.