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§31-18-20a. Land Development Fund

(a) The board of directors of the Housing Development Fund may create and establish a special revolving fund of moneys made available by appropriation, grant, contribution or loan, to be known as the land development fund and to be governed, administered and accounted for by the directors, officers and managerial staff of the Housing Development […]

§31-18-12. Validity of Any Pledge, Mortgage, Deed of Trust or Security Instrument

It is the intention hereof that any pledge, mortgage, deed of trust or security instrument made by or for the benefit of the Housing Development Fund, including, but not limited to amounts in the mortgage finance bond insurance fund, shall be valid and binding between the parties from the time the pledge, mortgage, deed of […]

§31-18-13. Redemption of Notes or Bonds

The Housing Development Fund, subject to such agreements with noteholders or bondholders as may then exist, shall have power, out of any funds available therefor, to purchase notes or bonds of the Housing Development Fund. If the notes or bonds are then redeemable, the price of such purchase shall not exceed the redemption price then […]

§31-18-3. Definitions

As used in this article, unless the context otherwise requires: (1) “Affordable Housing Fund” means the affordable housing fund created and established by the Housing Development Fund in accordance with §31-18-20d of this code.

§31-18-6. Corporate Powers

The Housing Development Fund is hereby granted, has and may exercise all powers necessary or appropriate to carry out and effectuate its corporate purpose, including, but not limited to, the following: (1) To make or participate in the making of federally insured construction loans to sponsors of land development, residential housing, or nonresidential projects. Such […]

§31-18-7. Notes or Bonds as General Obligations of Housing Development Fund

Except as may otherwise be provided by the Housing Development Fund, every issue of its notes or bonds shall be general obligations of the Housing Development Fund payable out of any revenues or moneys of the Housing Development Fund, subject only to any agreements with the holders of particular notes or bonds pledging any particular […]

§31-18-8. Notes and Bonds as Negotiable Instruments

The notes and bonds shall be and hereby are made negotiable instruments under the provisions of article eight, chapter forty-six of this code, subject only to the provisions of the notes or bonds for registration, unless otherwise provided by resolution of the Housing Development Fund.