13:17-103 - Establishment of transportation planning district fund - New Jersey Statutes

13:17-103  Establishment of transportation planning district fund.

9.  a. A resolution adopted by the commission pursuant to section 6 of P.L.2005, c.102 (C.13:17-100) shall provide for the establishment of a transportation planning district fund under the control of the chief fiscal officer.  All monies collected from development fees shall be deposited into the fund, which shall be invested in an interest-bearing account.  Monies deposited in the fund shall be used to defray project costs and allowable administrative costs.

b.Every transportation project funded, in whole or in part, by funds from a transportation planning district fund shall be subject to a project agreement to which the relevant entities are parties.  The expenditure of funds for this purpose shall not be made from a transportation planning district fund, except by appropriation of the commission and upon certification of the chief fiscal officer that the expenditure is in accordance with a project agreement entered into pursuant to P.L.2005, c.102 (C.13:17-95 et seq.) or is otherwise a project cost and has the approval of the commission.

L.2005,c.102,s.9.