52:27BBB-48 Contracts between State Treasurer and authority for debt service.
49. The State Treasurer and the authority are authorized to enter into one or more contracts to implement the payment arrangement that is provided for in section 48 of P.L.2002, c.43 (C.52:27BBB-47). The contract or contracts shall provide for payment by the State Treasurer of the amounts required to be paid pursuant to section 48 of P.L.2002, c.43 (C.52:27BBB-47) and shall set forth the procedure for the transfer of moneys for the purpose of paying such moneys. The contract or contracts shall contain such terms and conditions as are determined by the parties, and shall include, but not be limited to, terms and conditions necessary pursuant to P.L.2002, c.43 (C.52:27BBB-1 et al.); provided, however, that notwithstanding any other provision of any law, rule, regulation or order to the contrary, the authority shall be paid only such funds as shall be determined by the contract or contracts and further provided that the incurrence of any obligation of the State under the contract or contracts, including any payments to be made thereunder from the General Fund, shall be subject to and dependent upon appropriations being made from time to time by the Legislature for the purposes of P.L.2002, c.43 (C.52:27BBB-1 et al.).
L.2002,c.43,s.49.
Section: Previous 52-27bbb-42 52-27bbb-43 52-27bbb-44 52-27bbb-44.1 52-27bbb-45 52-27bbb-46 52-27bbb-47 52-27bbb-48 52-27bbb-49 52-27bbb-50 52-27bbb-51 52-27bbb-51.1 52-27bbb-52 52-27bbb-53 52-27bbb-54 Next
Last modified: October 11, 2016