(1) It may rent or lease the dwelling accommodations in them only to persons of low income;
(2) It may rent or lease the dwelling accommodations in them only at rentals within the financial reach of persons of low income;
(3) It may rent or lease to a tenant dwelling accommodations consisting of the number of rooms, but no greater number, which it deems necessary to provide safe and sanitary accommodations to the proposed occupants without overcrowding;
(4)
(A) It shall not accept any person as a tenant in any housing project if the persons who would occupy the dwelling accommodations have an annual income in excess of five (5) times the annual rental of the quarters to be furnished the persons. However, in the case of families with three (3) or more minor dependents, the ratio shall not exceed six (6) to one (1).
(B) In computing the rental for the purpose of selecting tenants, there shall be included in the rental the average annual cost to the occupants, as determined by the authority, of heat, water, electricity, gas, cooking range, and other necessary services or facilities, whether or not the charge for those services and facilities is in fact included in the rental.
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