16.10 - SURPLUS MONEYS -- LOAN AND GRANT FUND.
16.10 SURPLUS MONEYS -- LOAN AND GRANT FUND.
1. Moneys declared by the authority to be surplus moneys which
are not required to service bonds and notes issued by the authority,
to pay administrative expenses of the authority, or to accumulate
necessary operating or loss reserves, shall be used by the authority
to provide grants, subsidies, and services to lower income families
and very low income families through the programs authorized in this
chapter and consistent with legislative findings and guiding
principles.
2. The authority may establish a loan and grant fund which may be
comprised of the proceeds of appropriations, grants, contributions,
surplus moneys transferred as provided in this section and repayment
of authority loans made from such fund. Section History: Early Form
[C77, 79, 81, § 220.10] Section History: Recent Form
83 Acts, ch 124, § 3; 84 Acts, ch 1236, § 2; 86 Acts, ch 1245, §
841
C93, § 16.10
2000 Acts, ch 1071, §1, 2; 2007 Acts, ch 54, §21; 2008 Acts, ch
1097, §1