New Jersey § 52:31C-2 Findings, declarations relative to structured financing transactions.

New Jersey Statutes

§ 52:31C-2 — Findings, declarations relative to structured financing transactions.

New Jersey § 52:31C-2

Title 52STATE GOVERNMENT, DEPARTMENTS AND OFFICERS

This text of New Jersey § 52:31C-2 (Findings, declarations relative to structured financing transactions.) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 52:31C-2 (2026).

Text

2.The Legislature finds and declares that: a. In this era of limited sources of State and local revenues coupled with the increasing demands placed on State and local government to fulfill its governmental functions, the need exists to maximize the value of their assets; b. One possible way of maximizing such value is to utilize new and innovative financing structures which take advantage of the existing assets; c. A new and innovative financing structure that has been developed is the structured financing transaction whereby a governmental entity can obtain additional revenues by conveying its interest in its assets to other parties and by so conveying such interests, transfer certain benefits which the State or local government unit enjoys in connection with its assets, which would have

Free access — add to your briefcase to read the full text and ask questions with AI

2. The Legislature finds and declares that: a. In this era of limited sources of State and local revenues coupled with the increasing demands placed on State and local government to fulfill its governmental functions, the need exists to maximize the value of their assets; b. One possible way of maximizing such value is to utilize new and innovative financing structures which take advantage of the existing assets; c. A new and innovative financing structure that has been developed is the structured financing transaction whereby a governmental entity can obtain additional revenues by conveying its interest in its assets to other parties and by so conveying such interests, transfer certain benefits which the State or local government unit enjoys in connection with its assets, which would have value to the other party but of which the State or local government unit cannot take advantage; d. Entry into such structured financing transactions is not intended to interfere with the governmental unit's ownership, occupation or use of its assets, although under the terms of a structured financing transaction, upon the occurrence of certain events, the other party may have the right to exercise certain rights and remedies and to acquire certain interests which may interfere with the governmental unit's ownership, occupation or use of its assets; e. By the State or local government unit entering into such structured financing transactions, the State or local government unit can obtain additional revenues required to carry out its governmental functions without affecting the use by the State or local government unit of its assets for its governmental functions; f. It is in the best interests of the State or local government unit to be able to enter into structured financing transactions. L.1999,c.157,s.2.