2019 New York Laws
PBH - Public Health
Article 28-B - Hospital Mortgage Loan Construction
2876 - Occupancy or Other Rates.

Universal Citation: NY Pub Health L § 2876 (2019)

§ 2876. Occupancy or other rates. An eligible borrower shall, with the approval of the commissioner, fix rates to be charged for occupancy or other use of each project. The commissioner upon his own motion, or upon application by the eligible borrower or lienholder may vary the amount of such charge from time to time so as to secure, together with all other income of the eligible borrower pledged, assigned or otherwise made available to the agency, sufficient income to meet, within reasonable limits, all necessary payments by the said eligible borrower of all expenses, including fixed charges, sinking funds and reserves.

Disclaimer: These codes may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.