I.  Dwelling
Unit Revolving Fund



 



[§201H-191]  Dwelling unit revolving fund. 
There is created a dwelling unit revolving fund.  The funds appropriated for
the purpose of the dwelling unit revolving fund and all moneys received or
collected by the corporation for the purpose of the revolving fund shall be
deposited in the revolving fund.  The proceeds in the revolving fund shall be
used to reimburse the general fund to pay the interest on general obligation
bonds issued for the purposes of the revolving fund, for the necessary expenses
in administering housing development programs, and for carrying out the
purposes of housing development programs, including but not limited to the
expansion of community facilities constructed in conjunction with housing projects,
permanent primary or secondary financing, and supplementing building costs,
federal guarantees required for operational losses, and all things required by
any federal agency in the construction and receipt of federal funds or low‑income
housing tax credits for housing projects. [L 2006, c 180, pt of §4]



 



Note



 



  Transfer of certain interest earnings to general fund until
June 30, 2015.  L 2009, c 79, §30(a)(14).