5:10A-22 Municipal Assistance Program Fund.
153 words·~1 min read·
/nj/title-5/chapter-10a/5-10a-22A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
22. a. In the event that surplus moneys become available from the operation of solid waste disposal facilities by the commission, which are not required by any contract with the holders of any bonds, notes, or other obligations of the commission to be retained in any fund or account for the security of the commission's bonds, notes, or other obligations, then at least 75 percent of that surplus shall be used by the commission for any lawful purpose and 25 percent of that surplus may be placed in a special Municipal Assistance Program fund established by the commission for the purpose of infrastructure improvements.
b. The commission may establish a surcharge on solid waste which enters into its facilities. Revenue collected pursuant to this subsection shall be dedicated, exclusively, to the Municipal Assistance Program fund created by the commission pursuant to subsection a. of this section.
L.2015, c.19, s.22; amended 2015, c.72, s.13.