New Jersey § 34:1b-21
Full text of New Jersey New Jersey Statutes § 34:1b-21, with citation guidance and answers to common questions.
§ 34:1b-21.
The State hereby pledges and covenants with the holders of any Market Transition Facility
bonds, notes or other obligations and New Jersey Motor Vehicle Commission bonds, notes or other obligations issued pursuant to the provisions of P.L.1994, c. 57, that it will not limit or alter the rights or powers vested in the authority by this
act, nor limit or alter the rights or powers of the State Treasurer in any manner
which would jeopardize the interest of the holders or any trustee of such holders,
or inhibit or prevent performance or fulfillment by the authority or the State Treasurer
with respect to the terms of any agreement made with the holders of these bonds, notes,
or other obligations. The State also pledges and covenants with the holders of any such bonds, notes,
or obligations, that it will not act to prevent the authority from obtaining any of
the revenues provided for in this act, which shall be sufficient to meet all costs
and expenses in connection with the issuance of such obligations, until the bonds,
notes, or other obligations, together with interest thereon, are fully met and discharged
or payment thereof is fully provided for, except that the failure of the State to
appropriate monies for any purpose of this act shall not be deemed a violation of
this section.
Frequently Asked Questions About New Jersey § 34:1b-21
What does New Jersey Statutes § 34:1b-21 cover?
Section 34:1b-21 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 34:1b-21?
A common citation format is "New Jersey Statutes § 34:1b-21" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 34:1b-21 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.