N.J. Admin. Code § 7:22-6.5

Current through Register Vol. 56, No. 24, December 18, 2024

Section 7:22-6.5 - Pinelands Infrastructure Trust Fund

(a) The proceeds from the sale of bonds issued pursuant to section 5.a of the Pinelands Act shall be paid to the State Treasurer and held thereby in a separate interest bearing account specifically dedicated to making grants and low interest loans to local government units for financing the cost of the construction of wastewater treatment facilities.

(b) The moneys in the Pinelands Fund are specifically dedicated and shall be used for the purposes identified in N.J.A.C. 7:22-6.3; however, no moneys shall be expended from the Pinelands Fund for those purposes without the specific appropriation thereof by the Legislature.

(c) Payments of principal and interest on loans awarded from the Pinelands Fund shall be made to the Pinelands Fund.

N.J. Admin. Code § 7:22-6.5

Amended by R.1992 d.42, effective 1/21/1992.
See: 23 New Jersey Register 3282(a), 24 New Jersey Register 246(a).
In (b), affirmatively state that moneys ... "shall be used for."