New Jersey Statutes
§ 18A:72A-31 — Construction loans; terms
New Jersey·Title 18A EDUCATION
18A:72A-31. The authority also shall have power:
(a)to make loans to any participating institution for the construction or acquisition of projects in accordance with a loan agreement and plans and specifications, as appropriate, approved by the authority. No such loan shall exceed the total cost of such project and the equipment therefor as determined by the authority. Each such loan shall be premised upon an agreement between the authority and the participating institution as to payment, security, maturity, redemption, interest and other appropriate matters.
(b)to make loans to any participating institution to refund existing bonds, mortgages or advances given or made by such participating institution for the construction of projects to the extent that this will enable such participatin
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Nearby Sections
15
§ 18A:72A-1
Preamble, purpose of chapter§ 18A:72A-11
Further powers of authority§ 18A:72A-11.1
Refinancing outstanding mortgages of private lenders.§ 18A:72A-12
Moneys of authority; trust funds§ 18A:72A-12.1
Investment or reinvestment of funds§ 18A:72A-12.2
Short title.§ 18A:72A-12.4
County college capital projects fund, established.§ 18A:72A-12.5
Loan agreement to issue bonds, notes.§ 18A:72A-12.6
"Dormitory Safety Trust Fund."§ 18A:72A-12.7
Establishment of program to provide loans.§ 18A:72A-12.8
Issuance of bonds, notes.§ 18A:72A-13
Bondholders; enforcement of rights