18A:72A-27.1 Powers and duties, revenue producing facilities.
209 words·~1 min read·
/nj/title-18a/chapter-72a/18a-72a-27-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In addition to the powers and duties with respect to dormitories given under N.J.S.18A:72A-26 and N.J.S.18A:72A-27 the treasurer, the board of governors of the university, the board of trustees of the New Jersey Institute of Technology, the board of trustees of a State college, the board of trustees of Rowan University, the board of trustees of Montclair State University, the board of trustees of Kean University, the board of trustees of a county college, and the governing body of an affiliate of a public institution of higher education shall also have the same power and be subject to the same duties in relation to any conveyance, lease or sublease made under subsection a., b., or c. of N.J.S.18A:72A-26 or loan agreement under subsection e. of N.J.S.18A:72A-26, with respect to revenue-producing facilities; that is to say, structures or facilities which produce revenues sufficient to pay the rentals due and to become due under any lease or sublease made under subsection c. of N.J.S.18A:72A-26 or loan payments due and to become due under any loan agreement made under subsection e. of N.J.S.18A:72A-26 including, without limitation, student unions and parking facilities.
amended 1971, c.74; 1971, c.77, s.3; 1994, c.48, s.239; 2012, c.45, s.105; 2017, c.178, s.62; 2021, c.282, s.64; 2021, c.415, s.10.