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Terms Used In New Jersey Statutes 32:1-73

  • Amortization: Paying off a loan by regular installments.
The port authority is authorized to make and enforce such rules and regulations and to establish and levy such charges and tolls as it may deem convenient or necessary for the operation and maintenance of the said bridge and to insure at least sufficient revenue to meet the expenses of the construction, operation and maintenance thereof, and to make provision for the payment of the interest upon and amortization and retirement of such bonds or other securities or obligations as it may issue or incur for the purposes of this act, as hereinafter provided. There shall be allocated to the cost of construction, operation and maintenance of the bridge such proportion of the general expenses of the port authority as it shall deem properly chargeable thereto.

L.1925, c. 41, s. 3, p. 111.