Colorado § 29-4-229 Low rentals

Colorado Statutes

§ 29-4-229 — Low rentals

Colorado·Title 29 Government·Art. Housing

It is the purpose and intent of this part 2 to authorize
and impose a duty on the authority to provide safe and sanitary dwelling
accommodations at such rentals that persons of low income can afford to live in
such dwelling accommodations. To this end, the authority from time to time shall
reduce its rents and other charges for such dwelling accommodations to the extent
that it deems such action expedient; but the authority shall not reduce its rents or
other charges if such action is in violation of any contract between the authority
and an obligee or would result in an insufficiency of revenues from the project to
meet the costs of the operation and maintenance thereof, to meet all obligations of
the authority as same mature, and to create reasonable reserves for such
contingen

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It is the purpose and intent of this part 2 to authorize
and impose a duty on the authority to provide safe and sanitary dwelling
accommodations at such rentals that persons of low income can afford to live in
such dwelling accommodations. To this end, the authority from time to time shall
reduce its rents and other charges for such dwelling accommodations to the extent
that it deems such action expedient; but the authority shall not reduce its rents or
other charges if such action is in violation of any contract between the authority
and an obligee or would result in an insufficiency of revenues from the project to
meet the costs of the operation and maintenance thereof, to meet all obligations of
the authority as same mature, and to create reasonable reserves for such
contingencies as the authority determines.

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