N.J. Admin. Code § 19:31-1.1

Current through Register Vol. 56, No. 24, December 18, 2024

Section 19:31-1.1 - Program description

(a) The Authority is empowered to issue tax-exempt and taxable bonds, the proceeds of which can be used to provide low-interest loans to businesses, governmental entities and certain nonprofit organizations to finance projects which provide or maintain employment and/or tax ratables.

(b) Most bond financings are not guaranteed by the Authority or the State, and are payable solely from revenues generated by the project being financed.

(c) The general credit of neither the Authority nor the State is pledged to secure the bonds.

N.J. Admin. Code § 19:31-1.1

Amended by R.2000 d.297, effective 7/17/2000.
See: 32 New Jersey Register 1705(a), 32 New Jersey Register 2602(c).
In (a), inserted a reference to governmental entities.