I've been painting in my garage here in Idaho and it too has been in the lower 30's upper 20's. Possible? Yes. Recommended? No. It takes much longer to dry...you will also have to shake the crap out of the can...i'd shake it a good 3-4 minutes first...and also, depending on the paint, it may come out "chunkier" with more "splatter". I overcame the splatter by storing the paint indoors and only taking it out in the cold when I was ready to use it.
I am much too impatient to wait for the drying time and managed to screw up a couple times which I think had to wait longer to fix.
But then again, all this only applies to spray paint. When I rolled out the black, it was cold then...but only around 40 or so...and it rolled out fine...but I noticed my paint in the tray started getting lumpy much quicker.