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New Jersey Statutes Title 18A. Education 18A § 72A-51

Current as of January 01, 2024 | Updated by Findlaw Staff

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.

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Cite this article: FindLaw.com - New Jersey Statutes Title 18A. Education 18A § 72A-51 - last updated January 01, 2024 | https://codes.findlaw.com/nj/title-18a-education/nj-st-sect-18a-72a-51/

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