34:1B-148 Payment of, redemption of bonds, notes
196 words·~1 min read·
/nj/title-34/chapter-1b/34-1b-148·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
5. The authority may, in any resolution authorizing the issuance of bonds or notes pursuant to this act, pledge the Port Facility Revenue Fund or a portion thereof for payment of the redemption of the bonds or notes, or the principal and interest thereon, and covenant as to the use and disposition of moneys in the Port Facility Revenue Fund. All costs associated with the issuance of the bonds or notes by the authority for the purposes set forth in this act may be paid by the authority from the proceeds of bonds or notes or from the Port Facility Revenue Fund, as the authority shall determine, which costs may include, but shall not be limited to, any costs related to the issuance of bonds or notes, operating expenses of the authority attributable to the payment of current and anticipated liabilities and expenses, and costs of, and any payment due under, any agreement, including any agreement entered into pursuant to the provisions of subsection b. of section 7 of this act.
Moneys in the Port Facility Revenue Fund shall not be used for any other purposes of the authority than those provided in this act.
L.1997,c.150,s.5.