New Jersey § 58:11b-10
Full text of New Jersey New Jersey Statutes § 58:11b-10, with citation guidance and answers to common questions.
§ 58:11b-10.
a. There is established in the New Jersey Infrastructure Bank a special fund to be
known as the Transportation Loan Origination Fee Fund. The Transportation Loan Origination Fee Fund shall be credited with: (1) moneys deposited into the fund as loan origination fees received by the trust
and paid by loan applicants for transportation projects , aviation projects, and marine projects financed under the New Jersey Transportation Infrastructure Financing Program; and (2) any interest paid on the amounts of the transportation loan origination fees. b. Moneys in the Transportation Loan Origination Fee Fund shall be drawn and used
by the trust to reimburse the trust and then the Department of Transportation for
administrative and operating expenses incurred in administering the New Jersey Transportation
Infrastructure Financing Program, except that the total amount expended by the trust
for administrative and operating expenses in any fiscal year shall not exceed $8,000,000. The monies in the Transportation Loan Origination Fee Fund shall also be available
for application by the trust for loans to local government units for the cost of transportation
projects , aviation projects, and marine projects . Amounts in excess of the funds drawn by the Department of Transportation from the
Transportation Loan Origination Fee Fund during any given fiscal year shall be carried
forward into the following fiscal year and held on deposit in the fund. c. As used in this section, “ transportation loan origination fee ” means the fee charged by the trust in connection with engineering and environmental
services provided by the Department of Transportation to a project sponsor pursuant
to such project sponsor's participation in the New Jersey Transportation Financing
Program. A project sponsor may finance any portion of the transportation loan origination
fee through the trust through a transportation loan by the trust to such project sponsor.
Frequently Asked Questions About New Jersey § 58:11b-10
What does New Jersey Statutes § 58:11b-10 cover?
Section 58:11b-10 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 § 58:11b-10?
A common citation format is "New Jersey Statutes § 58:11b-10" (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 § 58:11b-10 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.