New Jersey § 18a:72a-82

§ 18a:72a-82.

As used in sections 48 and 49 of P.L.2009, c. 90 ( C.18A:72A-82 and C.18A:72A-83 ): “ Board ” means the Local Finance Board established in the Division of Local Government Services

in the Department of Community Affairs. “ Bonds ” mean bonds, notes or other obligations issued to finance or refinance higher education

projects by a municipality, or on behalf of a municipality by a county improvement

authority created pursuant to the “county improvement authorities law,” P.L.1960,

c. 183 ( C.40:37A-44 et seq. ). “ Higher education partnership agreement ” means an agreement between a municipality and an institution of higher education

providing for the issuance of bonds by the municipality, a county improvement authority

or a redevelopment entity, and the pledge of payments by the institution of higher

education to secure those bonds to finance a higher education project, or part thereof. “ Higher education project ” means the establishment and construction of higher education buildings and the expansion

and construction of additional facilities at, and the acquisition of additional and

upgraded equipment for existing higher education buildings, including but not limited

to the planning, erecting, purchasing, improving, developing, constructing, reconstructing,

extending, rehabilitating, renovating, upgrading, demolishing and equipping of facilities

at institutions of higher education. “ Institution of higher education ” means: Rutgers, The State University; a State college or university established

pursuant to chapter 64 of Title 18A of the New Jersey Statutes; the New Jersey Institute

of Technology; Rowan University; Montclair State University; Kean University; a county college and any other public university or college now or hereafter established

or authorized by State law; and any college or university incorporated and located

in New Jersey, which by virtue of law or character or license is a nonprofit educational

institution authorized to grant academic degrees and which provides a level of education

which is equivalent to the education provided by the State's public institutions of

higher education, as attested by the receipt of and continuation of regional accreditation

by the Middle States Association of Colleges and Schools, and which is eligible to

receive State aid under the provisions of the Constitution of the United States and

the Constitution of the State of New Jersey, but does not include any educational

institution dedicated primarily to the education or training of ministers, priests,

rabbis or other professional persons in the field of religion. “ Municipality ” means the municipal governing body or an entity acting on behalf of the municipality

if permitted by the federal Internal Revenue Code of 1986, or, if a redevelopment

agency or redevelopment entity is established in the municipality pursuant to P.L.1992, c. 79 ( C.40A:12A-1 et seq. ) and the municipality so provides, the redevelopment agency or entity so established.