Upon a finding by the board that investment in, or purchase or participation in the purchase of, mortgage loans or interests therein or that making loans to lenders is necessary to provide housing facilities within the means of low- or moderate-income families, it may cause the executive director to formulate and from time to time modify a plan for the development of housing facilities by the authority investing in, purchasing, or participating in the purchase of mortgage loans or interests therein from lenders or making loans to lenders. If the board ascertains that the necessary means of financing such a plan are available to the authority, the board may signify its approval of such a plan.
Source: L. 75: Entire section added, p. 975, § 7, effective April 9.
Editor's note: This section was enacted as § 29-4-710.4 in House Bill 75-1026 but was renumbered on revision in the 1977 replacement volume for ease of location.
Structure Colorado Code
Part 7 - Housing and Business Development and Financing
§ 29-4-702. Legislative Declaration
§ 29-4-703. Definitions - Rules
§ 29-4-704. Colorado Housing and Finance Authority
§ 29-4-704.5. Reference in Contracts and Documents
§ 29-4-707. Disclosure of Interests Required
§ 29-4-708. General Powers of the Authority - Repeal
§ 29-4-709. Power of Board - Housing Facility Plans
§ 29-4-710.5. Powers of the Board - Lease, Sale, or Financing of Projects
§ 29-4-710.6. Powers of the Board - Loans for Capital
§ 29-4-711. Power of Board - Housing Facility Plans - Mortgage Purchase - Loans to Lenders
§ 29-4-713. Power of the Board - Home Improvement Loans
§ 29-4-714. Powers of the Board - Home Improvement Loans - Purchase of Such Loans - Loans to Lenders
§ 29-4-716. Standards for Approval of Organizations
§ 29-4-717. Findings - Percentage of Low-Income Families Required
§ 29-4-719.1. Economic Development Fund
§ 29-4-720. Validity of Any Pledge
§ 29-4-722. Negotiable Instruments
§ 29-4-723. Bonds Eligible for Investment
§ 29-4-725. Nonliability of State for Bonds
§ 29-4-726. Members of Authority Not Personally Liable on Bonds
§ 29-4-727. Property Taxation - Exemption of Bonds From Taxation
§ 29-4-728. Revolving Fund Established
§ 29-4-730. Powers of the Authority - Investments
§ 29-4-731. Agreement of This State
§ 29-4-732. This Part 7 Not a Limitation of Powers