(1) A housing sponsor may be anyone or a combination of
the entities listed in 90-6-103, MCA, that is approved by a qualified lending
institution acting on behalf of the board. Housing sponsors may include a
limited profit housing sponsor, a non-profit housing sponsor and a governmental
agency as defined in 90-6-103, MCA, and who possess the legal, financial and
managerial capacity to provide housing developments within the state.
(2) Housing sponsors will certify all actual housing sponsors' expenditures to the