§ 23-11-13 — Rentals - How fixed by authority

An authority shall fix the rentals for dwelling in its projects at no higher rates than it finds to
be necessary in order to produce revenues which, together with all other available moneys,
revenues, income, and receipts of the authority from whatever source derived will be sufficient
to:
1. Pay, as the same become due, the principal and interest on the bonds of the authority;
2. Meet the cost of, and provide for maintaining and operating, the projects of the
authority, including the cost of any insurance thereon, and the administrative expenses
of the authority; and
3. Create, during not less than the six 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 year thereafter, and to maintain such reserve.