Nevada § 315.500 - Rentals

§ 315.500. Rentals

It is declared to be the policy of this state that each authority shall manage and

operate its housing projects in an efficient manner so as to enable it to fix the

rentals or payments for dwelling accommodations at low rates consistent with its providing

decent, safe and sanitary dwelling accommodations for persons of low income, and that

no authority shall construct or operate any housing project for profit, or as a source

of revenue to the city, town or the county. To this end an authority shall fix the rentals or payments for dwellings in its housing

projects at no higher rates than it shall find 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, will be sufficient: 1. To pay, as the same become due, the principal and interest on the bonds of the

authority. 2. To create and maintain such reserves as may be required to assure the payment of

principal and interest as it becomes due on its bonds. 3. To meet the cost of, and to provide for, maintaining and operating the housing

projects (including necessary reserves therefor and the cost of any insurance) and

the administrative expenses of the authority. 4. To make such payments in lieu of taxes as it determines are consistent with the

maintenance of the low-rent character of the housing projects.