New Jersey Statutes 52:27BBB-47. Payment to authority for debt service
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Terms Used In New Jersey Statutes 52:27BBB-47
- Contract: A legal written agreement that becomes binding when signed.
- Dependent: A person dependent for support upon another.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- 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
48. a. The State Treasurer shall, in each State fiscal year, pay from the General Fund to the authority, in accordance with a contract or contracts between the State Treasurer and the authority, authorized pursuant to section 49 of P.L.2002, c.43 (C. 52:27BBB-48), an amount equivalent to the amount due to be paid in such State fiscal year to pay the debt service incurred for such State fiscal year on the bonds or refunding bonds of the authority issued pursuant to P.L.2002, c.43 (C. 52:27BBB-1 et al.) and any additional costs authorized by section 47 of P.L.2002, c.43 (C. 52:27BBB-46); and
b. In addition to such terms and conditions as are agreed upon pursuant to section 49 of P.L.2002, c.43 (C. 52:27BBB-48), the contract or contracts shall provide that all such payments from the General Fund shall be subject to, and dependent upon, appropriations being made from time to time by the Legislature for these purposes.
L.2002,c.43,s.48.