N.J. Admin. Code § 19:31C-1.5

Current through Register Vol. 56, No. 21, November 4, 2024

Section 19:31C-1.5 - Proposal submission

(a) All proposals shall be submitted on or before the specified time and date required by the public notice and contain all information requested by FMERA. Unless otherwise specified in the notice, a proposal shall not be submitted by telephone, facsimile, or other electronic means.

(b) All proposals shall include a certified, cashier's, or bank check made payable to the Authority in the amount of 10 percent of the first year's rent, which shall be held by the Authority as a deposit and applied to the rental payments for the accepted proposal, and returned to all others.

(c) Deposit checks shall be deposited by FMERA into an FDIC-insured interest bearing account with interest accruing to the benefit of the potential lessee. Deposits paid by unsuccessful potential lessees, with accrued interest, shall be returned when FMERA issues its notice of intent to award a lease in accordance with 19:31C-1.1 4(c).

(d) Proposals received by FMERA shall be held unopened until the close of the proposal submission period, at which time all proposals received shall be publicly opened and the identities of the potential lessees, but not the substance of the proposals, will be read.

N.J. Admin. Code § 19:31C-1.5