New Jersey § 55:14k-48
Full text of New Jersey New Jersey Statutes § 55:14k-48, with citation guidance and answers to common questions.
§ 55:14k-48.
a. In addition to the bonding authority conferred by section 20 of P.L.1983, c. 530
( C. 55:14K-20 ), the agency is hereby authorized to issue bonds so that the total capital sum of
the bonds does not exceed $200,000,000 of bonds outstanding at any one time, for the
exclusive purpose of funding loan guarantees in the manner and to the extent provided
in this act. b. These bonds shall be designated as Housing Incentive Bonds and shall not be general
obligations of the agency, but shall be special obligations of the agency; and the
payment of interest on and repayment of principal of these bonds shall be secured
by and paid out of the revenues accruing to the fund pursuant to section 5 of this
act 1 or, if at any time the revenue should prove insufficient for the full and punctual
payment thereof, out of moneys provided through the credit enhancement arrangements
authorized in section 8 of this act. 2 c. Except as otherwise explicitly authorized in this act, any bonds issued or to be
issued pursuant to this section shall be subject to all the requirements, conditions
and restrictions of P.L.1983, c. 530 ( C. 55:14K-1 et seq. ) upon the bonding authority of the agency. d. The interest rate and other terms upon which bonds are issued pursuant to this
section shall not create a prospective obligation of the agency in excess of the amount
of revenues that can reasonably be expected from the fees that the agency can reasonably
expect to charge pursuant to subsection d. of section 5 of this act. 1
N.J.S.A. § 55:14K-49. 2
N.J.S.A. § 55:14K-52.
Frequently Asked Questions About New Jersey § 55:14k-48
What does New Jersey Statutes § 55:14k-48 cover?
Section 55:14k-48 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 § 55:14k-48?
A common citation format is "New Jersey Statutes § 55:14k-48" (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 § 55:14k-48 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.