The General Assembly may, in connection with the incorporation of a new municipal corporation, at any time (before, after, or contemporaneously with the passage of the chartering Act) appropriate to the Department of Community Affairs funds for grants or loans or both to a specific existing or proposed municipal corporation. When funds are so appropriated, the department shall make grants as specified by recipient, amount, and purpose and loans as specified by recipient, amount, interest rate, term, and purpose in the appropriation unless the chartering Act fails to secure passage or otherwise fails to become effective.
Section: Previous 36-31-1 36-31-2 36-31-3 36-31-4 36-31-5 36-31-6 36-31-7 36-31-7.1 36-31-8 36-31-9 36-31-10 36-31-11 36-31-11.1 36-31-12 NextLast modified: October 14, 2016