New Jersey § 26:2i-7

§ 26:2i-7.

a. In each fiscal year, the State Treasurer shall pay from the General Fund to the

authority, in accordance with a contract between the State Treasurer and the authority

as provided in subsection b. of this section, an amount equivalent to the amount due

to be paid in that fiscal year for the debt service on the bonds or refunding bonds

issued by the authority pursuant to subsection g. of section 7 of P.L.1972, c. 29

( C.26:2I-7 ) and any additional costs as authorized pursuant thereto, including any agreement

securing or providing for the payment of the bonds or refunding bonds. b. The State Treasurer and the authority are authorized to enter into one or more

contracts to implement the payment arrangement provided for in subsection a. of this

section. The contract shall provide for payment by the State Treasurer of the amounts required

to be paid pursuant to subsection a. of this section and shall set forth the procedure

for the transfer of monies for the purpose of making that payment. The contract shall contain such terms as are determined by the State Treasurer and

the authority and shall include, but not be limited to, terms and conditions necessary

and desirable to secure any bonds or refunding bonds issued by the authority pursuant

to subsection g. of section 7 of P.L.1972, c. 29 ( C.26:2I-7 ); except that, notwithstanding any provision of any law, rule or regulation to the

contrary, the State Treasurer shall pay the authority only such amounts as shall be

determined by the contract and the incurrence of any obligation of the State under

the contract, including any payment to be made from the General Fund pursuant thereto,

shall be subject to and dependent upon appropriations made by the Legislature for

the purposes of this section.