Use of funds; eligible activities.

  1. Law
  2. New Mexico Statutes
  3. Financial Institutions and Regulations
  4. New Mexico Housing Trust Fund
  5. Use of funds; eligible activities.

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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.

History: Laws 2005, ch. 105, § 7.

ANNOTATIONS

Effective dates. — Laws 2005, ch. 105, § 11 makes the act effective July 1, 2005.


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