New Jersey Statutes 34:1B-149. “Port Facility Revenue Fund”
Terms Used In New Jersey Statutes 34:1B-149
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
a. Such moneys as may be transferred to the fund by the State Treasurer, upon appropriation by the Legislature;
b. Such moneys as may have been or may be authorized by, or appropriated to, the South Jersey Port Corporation for the payment of debt service with respect to the port facilities of the corporation and which may be transferred to the authority by the corporation on or after the acquisition of the port facilities of the corporation by the authority or which may be transferred to the authority pursuant to section 14 of this act;
c. Interest or other income derived from the investment of moneys in the fund; and
d. Payments received by the authority under subsection d. of section 4 of this act.
Moneys in the fund shall be managed and invested by the Division of Investment in the Department of the Treasury.
L.1997,c.150,s.6.