52:9Q-19 Capital City Redevelopment Loan and Grant Fund.
174 words·~1 min read·
/nj/title-52/chapter-9q/52-9q-19·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
11. a. There is established in the corporation a nonlapsing, revolving fund to be known as the Capital City Redevelopment Loan and Grant Fund, and which shall be at the disposal of the corporation for carrying out the provisions of P.L.1987, c. 58 (C.52:9Q-9 et seq.), and for no other purpose.
b. The corporation may from time to time invest and reinvest those portions of the fund in investments in which other State funds may be invested. Net earnings received from the deposit of monies in the fund shall be used only for the purposes of the fund.
c. There shall be included in the fund:
(1)all monies appropriated and made available by the Legislature for inclusion therein;
(2)any monies repaid by persons pursuant to loan agreements funded from the fund, which payments shall be transmitted to the corporation for inclusion in the fund; and
(3)any income, increment, or interest derived from investment or reinvestment of monies deposited in the fund.
L.1987, c.58, s.11; amended 2009, c.252, s.4; 2025, c.114, s.2.