New Jersey § 27:13-8 Investment of dedicated funds;  availability

New Jersey Statutes

§ 27:13-8 — Investment of dedicated funds; availability

New Jersey·Title 27 HIGHWAYS

If, in the opinion of the State Treasurer and the State Highway Commissioner, the best interests of the State will permit, the State Treasurer may invest and reinvest such moneys in short term obligations of the United States. Any interest accruing from the investment of such funds shall be credited to the General State Fund. Upon application of any county or municipality for which funds are held in the said special State aid road fund account and with the approval of the State Highway Commissioner, moneys so held in the said special account shall be made available for immediate expenditure as heretofore. L.1946, c. 241, p. 856, s.

2.Amended by L.1953, c. 285, p. 1822, s. 1.

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If, in the opinion of the State Treasurer and the State Highway Commissioner, the best interests of the State will permit, the State Treasurer may invest and reinvest such moneys in short term obligations of the United States. Any interest accruing from the investment of such funds shall be credited to the General State Fund. Upon application of any county or municipality for which funds are held in the said special State aid road fund account and with the approval of the State Highway Commissioner, moneys so held in the said special account shall be made available for immediate expenditure as heretofore. L.1946, c. 241, p. 856, s. 2. Amended by L.1953, c. 285, p. 1822, s. 1.

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