Legislation
SECTION 110
Income debentures
Private Housing Finance (PVH) CHAPTER 44-B, ARTICLE 5
§ 110. Income debentures. With the approval of the supervising agency,
the certificate creating a redevelopment company, or an amended
certificate, may authorize the issuance of income debenture certificates
bearing no greater interest than six per centum per annum. Such income
debenture certificates and any instrument under which they are issued
may contain such other provisions, including provision for amortization
by serial maturities, through the operation of a sinking fund or
otherwise, as may be approved by the supervising agency.
the certificate creating a redevelopment company, or an amended
certificate, may authorize the issuance of income debenture certificates
bearing no greater interest than six per centum per annum. Such income
debenture certificates and any instrument under which they are issued
may contain such other provisions, including provision for amortization
by serial maturities, through the operation of a sinking fund or
otherwise, as may be approved by the supervising agency.