Money from the fund and matching funds from other sources may be used to finance in whole or in part any loans or grant projects that will provide affordable housing. Money from the fund may also be used to reimburse the authority for actual expenses incurred in administering the fund in an amount not to exceed five percent of total funds disbursed from the fund.
§ 58-18C-7 NMSA 1978
Use of funds; eligible activities
Known as the New Mexico Housing Trust Fund Act
The act spans §§ 58–58 (9 sections).
Laws 2005, ch. 105, § 7.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.