27:1B-21.12 - Commissioner's powers; duties - New Jersey Statutes

27:1B-21.12.  Commissioner's powers; duties3.  a.  The commissioner is authorized to enter into agreements with public or private entities or consortia thereof for the use of monies from the State Transportation Infrastructure Bank to provide loans or other assistance for the purpose of financing all or a portion of the costs incurred for the planning, acquisition, engineering, construction, reconstruction, repair and rehabilitation of a transportation project or for any other purpose permitted under the federal infrastructure bank program.  The terms of the agreements shall be consistent with the requirements of the federal infrastructure bank program.

b.  The commissioner shall report periodically, and at least annually, on the status of the State Transportation Infrastructure Bank program to the Joint Budget Oversight Committee or its successor.

L.1997,c.142,s.3.