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Section 52:27H-41.11 - Annual payment to convention authority.

NJ Rev Stat § 52:27H-41.11 (2019) (N/A)
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52:27H-41.11 Annual payment to convention authority.

23. In each fiscal year, the State Treasurer shall pay from the General Fund to the convention authority, in accordance with a contract between the State Treasurer and the convention authority as authorized pursuant to section 24 of P.L.2008, c.47 (C.52:27H-41.12), an amount equal to the debt service amount due to be paid in the State fiscal year on the bonds or refunding bonds of the convention authority issued or incurred pursuant to section 12 of P.L.2008, c.47 (C.52:27H-41.1) and any additional costs authorized pursuant to that section; provided that all such payments from the General Fund shall be subject to and dependent upon appropriations being made from time to time by the Legislature for those purposes, and provided further that all payments shall be used only to pay for the costs of the Atlantic City convention center project and the costs of financing such project.

L.2008, c.47, s.23.

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Section 52:27H-41.10 - Pledge, covenant between State, holders of bonds, refunding bonds.
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Section 52:27H-41.12 - Authority to enter into contracts to implement payment arrangement.