New Jersey Statutes 52:27BBBB-28. Infrastructure Fund, established
Terms Used In New Jersey Statutes 52:27BBBB-28
- 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
b. Moneys in the fund shall be expended by Atlantic City to pay for any work that may be undertaken as a local improvement pursuant to R.S.40:56-1. The governing body of Atlantic City may fund a local improvement with moneys deposited in the Infrastructure Fund subject to approval of the Commissioner of Community Affairs, in consultation with the Casino Reinvestment Development Authority and other State agencies, as appropriate.
c. If Atlantic City is no longer deemed a municipality in need of stabilization and recovery, as defined in section 3 of P.L.2016, c.4 (C. 52:27BBBB-3), then Atlantic City shall receive any money in the Infrastructure Fund and any future dedication to the Infrastructure Fund pursuant to subsection b. of section 9 of P.L.2016, c.5 (C. 52:27BBBB-25) subject to a memorandum of understanding executed with the State Treasurer that restricts the use of such moneys to works that may be undertaken as a local improvement pursuant to R.S.40:56-1.
amended 2021, c.315, s.8.