27:9-6 - Reimbursement of county for interest charges - New Jersey Statutes

27:9-6.  Reimbursement of county for interest charges
    When a state highway, or portion thereof, has been or shall be improved or reconstructed by the board of chosen freeholders of a county under an agreement  with the commissioner, and the commissioner has agreed or shall agree to  reimburse the county for the cost of the construction or improvement of such  highway, or portion thereof, from state funds, the commissioner shall also  agree to pay and the proper state agency shall pay to the board of chosen  freeholders, in addition to the cost of the improvement or reconstruction, the  actual amount of interest paid by the board for any money raised or borrowed by  it for the purpose of making the improvement or construction.  The interest  shall be considered as part of the construction cost of the road or highway.

    This section shall apply to all roads constructed or to be constructed under  chapter 6 (s. 27:6-1 et seq.) and chapter 7 (s. 27:7-1 et seq.) of this title,  and shall apply to any agreement relative to the construction thereof and the  payment therefor entered into between the commissioner and any board of chosen  freeholders, or to any contract which may hereafter be made between the  commissioner and any board of chosen freeholders.