Colorado § 29-4-506 - Policy of authority.
Full text of Colorado Colorado Revised Statutes § 29-4-506 — Policy of authority., with citation guidance and answers to common questions.
§ 29-4-506. Policy of authority.
(1) It is declared to be the policy of this state that each authority shall manage and operate its projects in an efficient manner so as to enable it to fix the rentals or payments for dwelling accommodations at low rates consistent with providing adequate dwelling accommodations for persons of low income.
(2) To this end the authority shall fix the rentals or payments for dwellings in its projects at no higher rates than it finds to be necessary in order to produce revenues which, together with all other available moneys, revenues, income, and receipts of the authority from whatever sources derived including federal financial assistance necessary to maintain the low rent character of the projects, will be sufficient to cover:
(a) Reasonable and proper costs of management, operation, maintenance, and improvement of the projects;
(b) Payments in lieu of taxes as it determines are consistent with the maintenance of the low rent character of projects;
(c) The establishment of reasonable and proper reserves; and
(d) The payment of currently maturing installments of principal and interest on any indebtedness incurred in connection with the project by the authority.
(3) Rentals or payments for dwellings shall be established and the projects administered, insofar as possible, so as to assure that any federal financial assistance required shall be strictly limited to amounts and periods necessary to maintain the low rent character of the projects. In the operation or management of a project, the authority may enter into any agreement with the federal government respecting tenant eligibility.
Source: L. 51: p. 449, § 6. CSA: C. 82, § 84. CRS 53: § 69-6-6. L. 61: p. 427, § 6. C.R.S. 1963: § 69-6-6.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 29-4-506
What does Colorado Revised Statutes § 29-4-506 cover?
Section 29-4-506 ("Policy of authority.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 29-4-506?
A common citation format is "Colorado Revised Statutes § 29-4-506" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 29-4-506 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.