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Idaho Statutes Title 31. Counties and County Law § 31-4212. Policy in operation of authority

Current as of January 01, 2023 | Updated by FindLaw Staff

It is hereby declared to be the policy of this state that each housing authority shall manage and operate its housing projects in an efficient manner so as to enable it to fix the rentals for dwelling accommodations at the lowest possible rates consistent with providing adequate, safe and sanitary accommodations, and no housing authority shall construct or operate any such project for profit or as a source of revenue to the county. An authority shall fix the rentals for dwellings in its projects at no higher rates than it shall find to be necessary in order to produce revenue which, together with all other available moneys, revenues, income and receipts of the authority from whatever sources derived, will be sufficient:

(a) to pay, as the same become due, the principal and interest on the bonds of the authority;

(b) to meet the cost of, and to provide for, maintaining and operating the projects, including the cost of any insurance, and the administrative expenses of the authority; and

(c) to create, during not less than the six (6) years immediately succeeding its issuance of any bonds, a reserve sufficient to meet the largest principal and interest payments which will be due on such bonds in any one (1) year thereafter and to maintain such reserve.

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Cite this article: FindLaw.com - Idaho Statutes Title 31. Counties and County Law § 31-4212. Policy in operation of authority - last updated January 01, 2023 | https://codes.findlaw.com/id/title-31-counties-and-county-law/id-st-sect-31-4212.html

Read this complete Idaho Statutes Title 31. Counties and County Law § 31-4212. Policy in operation of authority on Westlaw

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

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