New Jersey § 32:1-35

§ 32:1-35.

As used in this act: a. “ Bonds ” means bonds, notes, securities or other obligations or evidences of indebtedness; b. “ Effectuation ” of any project or facility or part of any such project or facility includes but

is not limited to its establishment, acquisition, construction, development, maintenance,

operation, improvement by way of betterments, additions or otherwise and rehabilitation

by the port authority or any other person and the provision of funds therefor through

the issuance of obligations, the making or granting of loans or otherwise; c. “ General reserve fund statutes ” shall mean chapter 48 of the laws of New York of 1931 as amended, 1 and chapter 5 of the laws of New Jersey of 1931 as amended, 2 and “general reserve fund” shall mean the general reserve fund of the port authority

authorized by said statutes; d. “ Governing body ” means the board or body vested with the general legislative powers of the municipality

in which an industrial development project or facility will be financed or effectuated

pursuant to this act; e. “ Industrial development project or facility ” or “port district industrial development project or facility” means any equipment,

improvements, structure or facility or any land, and any building, structure, facility

or other improvement thereon, or any combination thereof, and all real and personal

property, located within the New York portion of the port district or within a municipality

in the New Jersey portion of the port district which qualified for State aid under

the provisions of P.L.1971, c. 64 as most recently supplemented by P.L.1978, c. 14 3 or which may hereafter qualify for such aid, including but not limited to, machinery,

equipment and other facilities deemed necessary or desirable in connection therewith,

or incidental thereto, whether or not now in existence or under construction, which

shall be considered suitable by the port authority for manufacturing, research, non-retail

commercial or industrial purposes within an industrial park, or for purposes of warehousing

or consumer and supporting services directly related to any of the foregoing or to

any other port authority project or facility; and which may also include or be an

industrial pollution control facility or a resource recovery facility; provided that

no such industrial development project or facility may include or be a facility used

for the storage of chemicals, fuel or liquified natural gas unless incidental to the

effectuation of such industrial development project or facility; f. “ Industrial pollution control facility ” means any equipment, improvement, structure or facility or any land, and any building,

structure, facility or other improvement thereon, or any combination thereof, and

all real and personal property, located within the port district, including, but not

limited to, machinery, equipment and other facilities deemed necessary or desirable

in the opinion of the port authority in connection therewith, or incidental thereto,

whether or not now in existence or under construction, having to do with or the end

purpose of which is the control, abatement or prevention of land, sewer, water, air,

noise or general environmental pollution deriving from the operation of industrial,

manufacturing, warehousing, commercial and research facilities, including, but not

limited to any air pollution control facility, noise abatement facility, water management

facility, waste water collecting system, waste water treatment works, sewage treatment

works system, sewage treatment system or solid waste disposal facility or site, provided

that no such industrial pollution control facility may include or be used as a site

for organic landfill or be of a character or nature generally furnished or supplied

by any other governmental entity where such industrial pollution control facility

is located without the consent of such governmental entity; g. “ Municipality ” means a city, county, town or village all or any part of which is located within

the New York portion of the port district, or a city, county, town, borough or township

all or any part of which is located within the New Jersey portion of the port district; h. “Person” means any person, including an individual, firm, partnership, association,

society, trust, public utility, public or private corporation, or other legal entities,

including public or governmental body which may include the port authority, as well

as natural person; i. “ Port authority ” means the Port Authority of New York and New Jersey and subsidiary corporation now

or hereafter incorporated for any of the purposes of this act; provided, however,

as used in sections 4 and 5 of this act 4 it shall not include any such subsidiary corporation; j. “Purposes of this act” means the effectuation of industrial development projects

and facilities and of each project or facility constituting a portion thereof and

of each part of each project or facility, and purposes incidental thereto; k. “Real property” means lands, structures, franchises and interests in land, including

air space and air rights, waters, lands under water, wetlands and riparian rights,

and any and all things and rights included within the said term, and includes not

only fees simple absolute but also any and all lesser interests, including but not

limited to easements, rights-of-way, uses, leases, licenses and all other incorporeal

hereditaments and every estate, interest or right, legal or equitable, including terms

for years and liens thereon by way of judgments, mortgages or otherwise; l. “Resource recovery facility” means any equipment, improvement, structure or facility

or any land, and any building, structure, facility or other improvement thereon, or

any combination thereof, and all real and personal property located within the port

district, including, but not limited to, machinery, equipment and other facilities

deemed necessary or desirable in the opinion of the port authority in connection therewith,

or incidental thereto, whether or not now in existence or under construction, for

the disposal of refuse or other solid wastes or wastes resulting from other treatment

processes and for the recovery and sale or use of energy and other resources from

such refuse or other solid wastes or wastes resulting from other treatment processes,

provided that no such resource recovery facility may include or be used as a site

for organic landfill; m. “ Surplus revenues ” from any facility means the balance of the revenues from such facility including

but not limited to the revenues of any subsidiary corporation incorporated for any

of the purposes of this act remaining at any time currently in the hands of the port

authority after the deduction of the current expenses of the operation and maintenance

thereof, including a proportion of the general expenses of the port authority as it

shall deem properly chargeable thereto, which general expenses shall include but not

be limited to the expense of protecting and promoting the commerce of the port district,

and after the deduction of any amounts which the port authority may or shall be obligated

or may or shall have obligated itself to pay to or set aside out of the current revenues

therefrom for the benefit of the holders of any bonds legal for investment as defined

in the general reserve fund statutes; n. “Surplus revenues of port district industrial development projects or facilities”

means the surplus revenues of all industrial development projects or facilities effectuated

pursuant to the terms of this act. 1

McKinney's Unconsol. Laws, §§ 7001 to 7003. 2

N.J.S.A. §§ 32:1-141 to 32:1-143. 3

N.J.S.A. § 52:27D-178 et seq. 4

N.J.S.A. §§ 32:1-35.75, 32:1-35.76.