, 1955-06-13
IOURNA
or H PROCEEDINGS OF THE FIRST LEGISLATURE
OF III VIRG1N STANDS
First Regular Session 1855
THURSDAY, MARCH 10, 1855
Continued from Saturday,
RENTALS AND TENANT SELECTION
THURSDAY, MARCH 10, 1855
Continued from Saturday..
RENTALS AND TENANT SELECTION
LOW-RENT HOUSING PROJECTS

SECTION 8. The policy is hereby declared that the Au-.
thority shall manage and operate housing projects establish
ed for loW-income families in the most economical ana ell
Gent manner consistent with applicable requirements, SO
al to enable it to fix rentals or charges for dwelling acconmo
dations at low rents, in consonance with the purpose OF pro-
viding safe, decent, and sanitary housing for families OF low
income and shall not operate such housing projects for pro
fit or to provide revenue, for the Authority or for the Virgin
Islands, beyond that necessary to support the operations
Of the Authority, the costs OF management, repair, malnten-
ance and replacement, and the liquidation in full of the obi
cations incurred for the development and construction Of the
housing projects. To this end, the Authority shall fix the
rentals or charges for dwellings in such housing projects at
rates no higher than those it shall determine to be necessary
to produce revenues which, together with all other available
moneys, revenues, incomes, and receipts OF the Authority,
from all sources, including Federal financial assistance pro-
vided to maintain the loW-rent character Of the housing pro
iects, will be sufficient a. to pay, as they become due, the
principal and interest on bonds and obligations Of the Auth
ority: ~ to establish and maintain such reserves as may be
required to assure the payment of such principal and interest,
as they become due; () to meet the cost Of, and to provide
for, the maintenance and operation of the housing projects,
including necessary reserves therefor, and for costs OF IN
surance protection, as well as the administrative expenses
of the Authority; and az to make payments in lieu of taxes
as provided for in this Act. Rentals and charges for dwellings
shall be established, and the housing projects shall be admin
istered, to the greatest degree possible, SO as to assure that
any Federal financial assistance required shall be in the mini
mum amounts and periods necessary to maintain'the low-rent
character of the projects.
SECTION 8. Subject to such requirements as the Federal
Government may impose with respect to Federallyaided
housing projects, which shall in any event prevail, the Au-
thority, in the operation and management of loW-rent hous-
ing projects shall observe the following criteria: CD It shall
establish from time to time standards of preference and eli
gibiity for admission to, and occupancy OF, loW-rent dwell
ing accommodations; ~ It may make such accommodations
available only to families of low income, at rentals or
charges within the financial means of such families; ~ It
shall make reasonable effort to provide for each admitted
family dwelling accommodations consisting Of the number
of rooms that the Authority determines to be necessary to
provide for the family concerned safe, decent. and sanitary
accommodations without overcrowding; "a It shall not ac-
cept any family whose aggregate annual net income, as de-
termined by the Authority, less an exemption Of not more
than $100 for each minor member of the family lother than
the head of the family and his spousel as established by the
Authority, exceeds, at the time of admission, five times the
annual rental of the accommodations, to be occupied by such
family; and the annual rental computed for this purpose
shall include the average annual cost, as determined by the