9-408. Home equity conversion program; authorization; use of proceeds

A. A city or town, by ordinance, may offer a home equity conversion program for persons sixty years of age or older.

B. A city or town shall use any monies obtained from a home equity conversion program, after payment of all costs and expenses, on programs for senior citizens.

9-408. Home equity conversion program; authorization; use of proceeds

A. A city or town, by ordinance, may offer a home equity conversion program for persons sixty years of age or older.

B. A city or town shall use any monies obtained from a home equity conversion program, after payment of all costs and expenses, on programs for senior citizens.