90-6-132. Definitions. (1) As used in 90-6-131 through 90-6-136, the following definitions apply:
     (1) "Board" means the board of housing created in 2-15-1814.
     (2) "Housing development" means the same as in 90-6-103.
     (3) "Loan account" means the affordable housing revolving loan account created in 90-6-133.
     (4) "Low-income" means households whose incomes do not exceed 80% of the median income in the area, as determined by the United States department of housing and urban development, with adjustments for smaller or larger families.
     (5) "Moderate-income" means households whose incomes are between 81% and 95% of the median income for the area, as determined by the United States department of housing and urban development, with adjustments for smaller and larger families.

     History: En. Sec. 2, Ch. 312, L. 1999.