52:9Q-19 Capital City Redevelopment Loan and Grant Fund.
11. a. There is established in the corporation a nonlapsing, revolving fund to be known as the Capital City Redevelopment Loan and Grant Fund, and which shall be at the disposal of the corporation for carrying out the provisions of P.L.1987, c.58 (C.52:9Q-9 et seq.), and for no other purpose.
b.The corporation may from time to time invest and reinvest those portions of the fund in investments in which other State funds may be invested. Net earnings received from the deposit of moneys in the fund shall be used only for the purposes of the fund.
c. There shall be included in the fund (1) all moneys appropriated and made available by the Legislature for inclusion therein, (2) any other moneys made available to the corporation from any source or sources, for its purposes, (3) any moneys repaid by persons pursuant to loan agreements under the terms of P.L.1987, c.58 (C.52:9Q-9 et seq.), which payments shall be transmitted to the corporation for inclusion in the fund, and (4) any income, increment or interest derived from investment or reinvestment.
L.1987, c.58, s.11; amended 2009, c.252, s.4.
Section: Previous 52-9q-13.6 52-9q-13.7 52-9q-14 52-9q-15 52-9q-16 52-9q-17 52-9q-18 52-9q-19 52-9q-20 52-9q-21 52-9q-22 52-9q-24 52-9q-25 52-9q-26 52-9q-27 Next
Last modified: October 11, 2016