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N.Y. Pub. Health Law § 2876

Occupancy or other rates

2014-09-22

§ 2876. Occupancy or other rates. An eligible borrower shall, with the\napproval of the commissioner, fix rates to be charged for occupancy or\nother use of each project. The commissioner upon his own motion, or\nupon application by the eligible borrower or lienholder may vary the\namount of such charge from time to time so as to secure, together with\nall other income of the eligible borrower pledged, assigned or otherwise\nmade available to the agency, sufficient income to meet, within\nreasonable limits, all necessary payments by the said eligible borrower\nof all expenses, including fixed charges, sinking funds and reserves.\n

Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.