US Laws, Codes, Statutes & Cases

Moneys deposited in the fund may be invested by the authority; provided, however, that sufficient funds are made available to grant applications for emergency assistance and the routine flow of regular applications. Income earned from such investment shall be returned to the affordable housing fund; provided, however, that the authority may use up to 8.4 percent of any such investment income to defray the costs of administering this subdivision.

Source. 1988, 240:5, eff. July 1, 1988.