N.J.S. § 18A:72A-51 - 'Higher Education Facilities Trust Fund'
|Cite as:||N.J.S. § 18A:72A-51|
|Currency:||Current through L. 2018, c. 169.|
There is created within the New Jersey Educational Facilities Authority, established pursuant to N.J.S. 18A:72A-1 et seq., the "Higher Education Facilities Trust Fund," hereinafter referred to as the "trust fund." The trust fund shall be maintained as a separate account and administered by the authority to carry out the provisions of this act. The trust fund shall consist of:
a. moneys received from the issuance of bonds or notes pursuant to section 9 of P.L. 1993, c.375 (C.18A:72A-57) and an annual appropriation from the net proceeds of the State lottery established by P.L. 1970, c.13 (C.5:9-1 et seq.) in an amount sufficient to pay the principal and interest on the bonds or notes;
To continue readingFREE SIGN UP