P.R. Laws tit. 17, § 90

2019-02-20 00:00:00+00
§ 90. Dwellings for persons of moderate income—Reasonable rentals and sale prices

The Corporation shall fix the reasonable rentals and sale prices within the economic possibilities of the families of moderate income. On making the computations for the fixing of said rentals or sale prices, the Corporation shall make sure that said rentals or sale prices, together with any other funds belonging to the Corporation, are sufficient at least for:

(1) Paying the principal of and interest on the bonds issued by the Corporation in accordance with the provisions of §§ 86—94 of this title.

(2) Paying the administrative and other expenses incurred by the Corporation for providing dwellings for families of moderate income, including, but without limitations, maintenance expenses, repair of such dwellings, insurance, and expenses in connection with the sale and financing of each dwelling.

(3) Providing reasonable reserves to meet the payment of expenses and the amortizations referred to in the preceding subsections (1) and (2).

History —June 26, 1964, No. 82, p. 260, § 5.