New Jersey § 58:11b-5
Full text of New Jersey New Jersey Statutes § 58:11b-5, with citation guidance and answers to common questions.
§ 58:11b-5.
a. The trust shall make available a financing cost estimate to any local government
unit seeking to finance $1,000,000 or more of the costs of an environmental infrastructure
project or project component. The financing cost estimate shall provide a local government unit with an estimate
of the costs of financing an environmental infrastructure project through the trust
to enable the local government unit to evaluate, and other interested parties to consider,
the potential savings of trust financing, including interest costs, compared to other
available methods of financing the project. b. The trust may require the local government unit to provide information concerning
the project and the borrower needed to generate a financing cost estimate, including,
but not limited to, a detailed description of the project, design, engineering and
environmental information, a cost estimate prepared by the project engineer or other
qualified person, information regarding the borrower, the amount to be financed, and
any other information the trust deems relevant in order for the cost estimate to be
as accurate as possible. The trust, in conjunction with the Department of Environmental Protection, shall provide
with the financing cost estimate: (1) a description of the priority system used by the Department of Environmental
Protection in awarding financing under the program; and (2) a comparison of the estimates of the cost of issuance and underwriting fees, servicing
fees, and interest costs for a project financed through the trust versus a project
financed independently by the local government unit through its own bond process. c. The trust, through its web site, shall make available online a form that may be
completed by the local government unit for submission to the trust in order for the
trust to make an estimate of financing costs for the project. Upon submission of the completed form, the trust shall, within 5 days thereafter,
provide an estimate of the financing costs and possible interest rate that may be
made available for the project.
Frequently Asked Questions About New Jersey § 58:11b-5
What does New Jersey Statutes § 58:11b-5 cover?
Section 58:11b-5 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-5?
A common citation format is "New Jersey Statutes § 58:11b-5" (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-5 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.