N.J.S. § 18A:72A-51 - 'Higher Education Facilities Trust Fund'

Cite as:N.J.S. § 18A:72A-51
Currency:Current through L. 2019, c. 6.

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;

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