(1) The board shall establish criteria for the financial feasibility of any plan for the development of housing facilities to be undertaken with the proceeds of housing facility loans.
(2) If the authority determines that such plan meets the board's criteria, that private financing is not available on reasonably equivalent terms and conditions, and that the necessary means of financing such plan are available to the authority, the authority may accept such plan.
Source: L. 73: p. 809, § 1. C.R.S. 1963: § 69-11-8. L. 75: Entire section amended, p. 973, § 5, effective April 9. L. 2007: Entire section amended, p. 705, § 5, effective May 3.
Editor's note: This section was originally numbered as § 29-4-708 in C.R.S. 1973 but was renumbered on revision in the 1977 replacement volume for ease of location.