Mo. Rev. Stat. § 99.090
This is the official text of Mo. Rev. Stat. § 99.090, part of Missouri’s Rev. Stat — part of the compiled statutory law of Missouri, published by the state as "Rev. Stat." Browse the sections below, each linked to its official government source.
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99.090 Rentals, how fixed.
Official statutory text
99.090. Rentals, how fixed. — 1. It is hereby declared to be the policy of this state that each housing authority shall manage and operate housing projects owned by it in an efficient manner so as to enable it to fix the rentals for its very low and low-income tenants at the lowest possible rates consistent with providing decent, safe and sanitary dwelling accommodations, and at rates not higher than rental guidelines established by the United States Department of Housing and Urban Development for such persons. To this end an authority shall fix the rentals for dwellings in its projects at no higher rates than it shall find to be necessary in order:
(1) To pay, as the same become due, the principal and interest on the bonds of the authority;
(2) To meet the cost of, and to provide for, maintaining and operating its projects, including the cost of any insurance and any other administrative expenses of the authority; and
(3) To 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 and to maintain such reserve.
2. The provisions of this section shall not apply to any moderate income tenants of the authority.
(RSMo 1939 § 7861, A.L. 1978 H.B. 1155, A.L. 1986 S.B. 767)
(1) To pay, as the same become due, the principal and interest on the bonds of the authority;
(2) To meet the cost of, and to provide for, maintaining and operating its projects, including the cost of any insurance and any other administrative expenses of the authority; and
(3) To 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 and to maintain such reserve.
2. The provisions of this section shall not apply to any moderate income tenants of the authority.
(RSMo 1939 § 7861, A.L. 1978 H.B. 1155, A.L. 1986 S.B. 767)
Status: in_force · Read it on the official government site
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