N.J. Stat. § 18A:72A-51

Current through L. 2024, c. 87.

Section 18A:72A-51 - "Higher Education Facilities Trust Fund."

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 in an amount sufficient to pay the principal and interest on the bonds or notes;

b. all moneys appropriated by the State for the purposes of the trust fund; and

c. all interest and investment earnings received on moneys in the trust fund.

N.J.S. § 18A:72A-51

Amended by L. 2017, c. 98,s. 21, eff. 7/4/2017.

L.1993, c.375, s.3.