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This entry was published on 2014-09-22
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SECTION 553
Conditions precedent to sale or lease
Private Housing Finance (PVH) CHAPTER 44-B, ARTICLE 10
§ 553. Conditions precedent to sale or lease. No such grant, sale,
lease or conveyance under this article shall be made unless (1) the
authority or municipality, after a public hearing on ten days published
notice, and with the approval of the government providing the financial
assistance, shall find that such transfer is in the best public
interest, (2) adequate provision will be made for tenant relocation, and
(3) adequate provision will be made for the payment or retirement of all
bonds, notes and other obligations issued by the municipality or
authority to finance the project cost.