8.111.301    PURPOSE AND OBJECTIVE

(1) These rules are adopted by the board under and pursuant to the provisions of Title 90, chapter 6, part 1, MCA, the Housing Act of 1975, to implement the legislative and administrative intent to increase the supply of adequate housing in the state that is within the financial capabilities of lower income persons and families. The board will assist public and private enterprise and governmental agencies in meeting critical housing needs by making available additional public money through the issuance of revenue bonds and notes as authorized, which will be payable solely from the revenues or assets of the board and will not constitute a debt, liability, obligation or pledge of the full faith and credit of the state.

(2) The purpose in supplying additional public money will be to accomplish the objectives of:

(a) increasing the supply of funds to finance housing developments;

(b) increasing the number of adequate housing developments;

(c) providing housing developments that are within the financial capabilities of lower income persons and families; and

(d) increasing the activities, participation and cooperation of public and private enterprise and governmental agencies in providing decent, safe, and sanitary housing.

History: Sec. 90-6-104, 90-6-106, MCA; IMP, Sec. 90-6-102, MCA; NEW, Eff. 7/9/76; TRANS, C. 163, L. 1977, Eff. 7/1/77; TRANS, from Dept. of Administration, C. 294, L. 1981, Eff. 7/1/81.