99.100. 1. In the operation or management of housingprojects owned by it, an authority shall at all times observe thefollowing duties with respect to rentals and tenant selection:
(1) It may rent or lease the dwelling accommodations thereinonly to persons of very low income, low income or moderate incomeand at rentals within the financial reach of such persons;
(2) It may rent or lease to a tenant dwelling accommodationsconsisting of the number of rooms (but no greater number) whichit deems necessary to provide safe and sanitary accommodations tothe proposed occupants thereof, without overcrowding; and
(3) In the operation or management of housing projects, anauthority shall ensure that at least twenty percent of the unitsof each new project built or developed by said housing authoritywill be occupied by persons of very low or lower income.
2. Nothing contained in this or section 99.090 shall beconstrued as limiting the power of an authority to vest in anobligee the right, in the event of a default by the authority, totake possession of a housing project, or cause the appointment ofa receiver thereof, free from all the restrictions imposed bythis or section 99.090.
(RSMo 1939 ยง 7862, A.L. 1978 H.B. 1155, A.L. 1986 S.B. 767, A.L. 1988 H.B. 1105)