Idaho State Statutes - Idaho Attorney Directory

It is hereby declared to be
the policy of this state that each housing authority shall manage and operate
its housing projects in an efficient manner so as to enable it to fix the
rentals for dwelling accommodations at the lowest possible rates consistent
with providing adequate, safe and sanitary accommodations, and no housing
authority shall construct or operate any such project for profit or as a
source of revenue to the county. An authority shall fix the rentals for
dwellings in its projects at no higher rates than it shall find to be
necessary in order to produce revenue which, together with all other available
moneys, revenues, income and receipts of the authority from whatever sources
derived, will be sufficient:
(a) to pay, as the same become due, the principal and interest on the
bonds of the authority;
(b) to meet the cost of, and to provide for, maintaining and operating
the projects, including the cost of any insurance, and the administrative
expenses of the authority; and
(c) to create, during not less than the six (6) 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 (1)
year thereafter and to maintain such reserve.

Click here to visit the Official Idaho State Statutes