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04/06/1999 11:53 9198331056 <br />PAGE 04 <br />GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 1999 <br />1 ~}, Providing housing nroiects for persons of I~ow or m oderate income. <br />2 i~l uding construction or acquisition of projects to be own ed by a <br />3 bou nty redevelopment commission, or housing a uthority and shshe <br />4 pro vision of loans_ g.;ants. interest su~nleme nts. an d other <br />5 pZQ gramc of 'nsmcial ssistance to such_~rsons. A housin e nroiect <br />6 m_a v provide housin~~;nersons of other than l aw or m oderate <br />7 inc ome if at least twenty percent 2 %a) of the uni ts in the pLject <br />8 arP PaclusiveiX reserved for Tersons of low or m oderate incomg <br />9 No rent 5_ubsidv ma be uai from bond nr~oc_e_eds." <br />1,p Section 5. This act applies only to counties having a population i n excess <br />11 of 500,000. <br />12 Section 6. This aCt is effective when it becomes law. <br />Se~aate DR51633 Page 3 <br />