34:1B-170 Investment of moneys.
116 words·~1 min read·
/nj/title-34/chapter-1b/34-1b-170·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
6. The authority shall have, in addition to the powers set forth in section 5 of P.L.1974, c.80 (C.34:1B-5), the power to enter into written agreements with one or more private investors, or with one or more State agencies or authorities for the purpose of establishing a pool of moneys to be deposited in the program and to provide moneys to be used exclusively for loans to stimulate the retention or attraction of businesses pursuant to this act. The pooled moneys provided as loans by the authority from the program shall be fixed at an interest rate to be determined by the authority and shall be for a term to be established by the authority.
L.1998,c.94,s.6.