40:56-71.3 - Loan fund created - New Jersey Statutes

40:56-71.3  Loan fund created.

3.There is created a nonlapsing downtown business improvement loan fund in the Department of Community Affairs, which shall be the repository for all  moneys appropriated  or otherwise made available to the fund.  All moneys deposited in the fund shall be held in the fund and disbursed in the amounts necessary to fulfill the purposes of this act and subject to the requirements prescribed  in this act.  All moneys in the fund, or any portion thereof, may be invested and reinvested in legal obligations of the United States or of the State or of any political subdivision thereof. Any income from, interest on, or increment to moneys so invested or reinvested shall be included in the fund.

L.1998,c.115,s.3.