New Jersey § 58:11b-5

§ 58:11b-5.

Except as otherwise limited by the provisions of P.L.1985, c. 334 ( C.58:11B-1 et seq. ), P.L.1997, c. 224 ( C.58:11B-10.1 et al.), or sections 22 and 34 through 38 of P.L.2016, c. 56 ( C.58:11B-10.3 through C.58:11B-10.5 , C.58:11B-20.2 , C.58:11B-22.3 , and C.58:11B-22.4 ), the trust may: a. Make and alter bylaws for its organization and internal management and, subject

to agreements with holders of its bonds, notes or other obligations, make rules and

regulations with respect to its operations, properties and facilities; b. Adopt an official seal and alter it; c. Sue and be sued; d. Make and enter into all contracts, leases and agreements necessary or incidental

to the performance of its duties and the exercise of its powers under the provisions

of P.L.1985, c. 334 ( C.58:11B-1 et seq. ), P.L.1997, c. 224 ( C.58:11B-10.1 et al.), or sections 22 and 34 through 38 of P.L.2016, c. 56 ( C.58:11B-10.3 through C.58:11B-10.5 , C.58:11B-20.2 , C.58:11B-22.3 , and C.58:11B-22.4 ), and subject to any agreement with the holders of the trust's bonds, notes or other

obligations, consent to any modification, amendment or revision of any contract, lease

or agreement to which the trust is a party; e. Enter into agreements or other transactions with and accept, subject to the provisions

of section 23 of P.L.1985, c. 334 ( C.58:11B-23 ), grants, appropriations and the cooperation of the State, or any State agency, in

furtherance of the purposes of P.L.1985, c. 334 ( C.58:11B-1 et seq. ), P.L.1997, c. 224 ( C.58:11B-10.1 et al.), or sections 22 and 34 through 38 of P.L.2016, c. 56 ( C.58:11B-10.3 through C.58:11B-10.5 , C.58:11B-20.2 , C.58:11B-22.3 , and C.58:11B-22.4 ), and do anything necessary in order to avail itself of that aid and cooperation; f. Receive and accept aid or contributions from any source of money, property, labor

or other things of value, to be held, used and applied to carry out the purposes of

P.L.1985, c. 334 ( C.58:11B-1 et seq. ), P.L.1997, c. 224 ( C.58:11B-10.1 et al.), or sections 22 and 34 through 38 of P.L.2016, c. 56 ( C.58:11B-10.3 through C.58:11B-10.5 , C.58:11B-20.2 , C.58:11B-22.3 , and C.58:11B-22.4 ), subject to the conditions upon which that aid and those contributions may be made,

including, but not limited to, gifts or grants from any department or agency of the

State, or any State agency, for any purpose consistent with the provisions of P.L.1985,

c. 334 ( C.58:11B-1 et seq. ), P.L.1997, c. 224 ( C.58:11B-10.1 et al.), or sections 22 and 34 through 38 of P.L.2016, c. 56 ( C.58:11B-10.3 through C.58:11B-10.5 , C.58:11B-20.2 , C.58:11B-22.3 , and C.58:11B-22.4 ), subject to the provisions of section 23 of P.L.1985, c. 334 ( C.58:11B-23 ); g. Acquire, own, hold, construct, improve, rehabilitate, renovate, operate, maintain,

sell, assign, exchange, lease, mortgage or otherwise dispose of real and personal

property, or any interest therein, in the exercise of its powers and the performance

of its duties under the provisions of P.L.1985, c. 334 ( C.58:11B-1 et seq. ), P.L.1997, c. 224 ( C.58:11B-10.1 et al.), or sections 22 and 34 through 38 of P.L.2016, c. 56 ( C.58:11B-10.3 through C.58:11B-10.5 , C.58:11B-20.2 , C.58:11B-22.3 , and C.58:11B-22.4 ); h. Appoint and employ an executive director and any other officers or employees as

it may require for the performance of its duties, without regard to the provisions

of Title 11A of the New Jersey Statutes; i. Borrow money and issue bonds, notes and other obligations, and secure the same,

and provide for the rights of the holders thereof as provided in the provisions of

P.L.1985, c. 334 ( C.58:11B-1 et seq. ), P.L.1997, c. 224 ( C.58:11B-10.1 et al.), or sections 22 and 34 through 38 of P.L.2016, c. 56 ( C.58:11B-10.3 through C.58:11B-10.5 , C.58:11B-20.2 , C.58:11B-22.3 , and C.58:11B-22.4 ); j. Subject to any agreement with holders of its bonds, notes or other obligations,

invest moneys of the trust not required for immediate use, including proceeds from

the sale of any bonds, notes or other obligations, in any obligations, securities

and other investments in accordance with the rules and regulations of the State Investment

Council or as may otherwise be approved by the Director of the Division of Investment

in the Department of the Treasury upon a finding that such investments are consistent

with the corporate purposes of the trust; k. Procure insurance to secure the payment of its bonds, notes or other obligations

or the payment of any guarantees or loans made by it in accordance with the provisions

of P.L.1985, c. 334 ( C.58:11B-1 et seq. ), P.L.1997, c. 224 ( C.58:11B-10.1 et al.), or sections 22 and 34 through 38 of P.L.2016, c. 56 ( C.58:11B-10.3 through C.58:11B-10.5 , C.58:11B-20.2 , C.58:11B-22.3 , and C.58:11B-22.4 ), or against any loss in connection with its property and other assets and operations,

in any amounts and from any insurers as it deems desirable; l . Engage the services of attorneys, accountants, engineers, and financial experts

and any other advisors, consultants, experts and agents as may be necessary in its

judgment and fix their compensation; m. (1) Make and contract to make loans and provide other assistance to local government

units, or to a local government unit on behalf of another local government unit, to

finance the cost of wastewater treatment system projects or water supply projects

and acquire and contract to acquire notes, bonds or other obligations issued or to

be issued by any local government units to evidence the loans, all in accordance with

the provisions of P.L.1985, c. 334 ( C.58:11B-1 et seq. ) or P.L.1997, c. 224 ( C.58:11B-10.1 et al.); (2) Make and contract to make loans and provide other assistance to public water utilities,

or to any other person or local government unit on behalf of a public water utility,

to finance the cost of water supply projects in accordance with the provisions of

P.L.1985, c. 334 ( C.58:11B-1 et seq. ) or P.L.1997, c. 224 ( C.58:11B-10.1 et al.); (3) Make and contract to make loans and provide other assistance to private persons

other than local government units, or to any other person or local government unit

on behalf of a private person, to finance the cost of onsite wastewater treatment

and disposal systems or stormwater management systems in accordance with the provisions

of P.L.1985, c. 334 ( C.58:11B-1 et seq. ) or P.L.1997, c. 224 ( C.58:11B-10.1 et al.); (4) Make and contract to make loans and provide other assistance to one or more local

government units or consortia thereof to finance the cost of transportation projects,

aviation projects, and marine projects in accordance with applicable provisions of

the federal infrastructure bank program and pursuant to sections 22 and 34 through

38 of P.L.2016, c. 56 ( C.58:11B-10.3 through C.58:11B-10.5 , C.58:11B-20.2 , C.58:11B-22.3 , and C.58:11B-22.4 ); n. Subject to any agreement with holders of its bonds, notes or other obligations,

purchase bonds, notes and other obligations of the trust and (1) hold the same for resale for any duration, including until maturity thereof, including in connection with any

cross-investment initiative of the trust, or (2) provide for the cancellation thereof, all in accordance with the provisions of P.L.1985,

c. 334 ( C.58:11B-1 et seq. ), P.L.1997, c. 224 ( C.58:11B-10.1 et al.), or sections 22 and 34 through 38 of P.L.2016, c. 56 ( C.58:11B-10.3 through C.58:11B-10.5 , C.58:11B-20.2 , C.58:11B-22.3 , and C.58:11B-22.4 ); o . (1) Charge to and collect from local government units, private persons , public water utilities , or nonprofit organizations any fees and charges in connection with the trust's loans, guarantees or other services,

including, but not limited to, fees and charges sufficient to reimburse the trust

for all reasonable costs necessarily incurred by it in connection with its financings

and the establishment and maintenance of reserve or other funds, as the trust may

determine to be reasonable. The fees and charges shall be in accordance with a uniform schedule published by

the trust for the purpose of providing actual cost reimbursement for the services

rendered; (2) Any fees and charges collected by the trust pursuant to this subsection may be

deposited and maintained in a special fund separate from any other funds held by the

trust pursuant to section 10 of P.L.1985, c. 334 ( C.58:11B-10 ) or section 23 of P.L.1997, c. 224 ( C.58:11B-10.1 ), and shall be available for any corporate purposes of the trust; p. Subject to any agreement with holders of its bonds, notes or other obligations,

obtain as security or to provide liquidity for payment of all or any part of the principal

of and interest and premium on the bonds, notes and other obligations of the trust

or for the purchase upon tender or otherwise of the bonds, notes or other obligations,

lines of credit, letters of credit and other security agreements or instruments in

any amounts and upon any terms as the trust may determine, and pay any fees and expenses

required in connection therewith; q. Provide to local government units any financial and credit advice , and any form of technical assistance, as these local government units may request; r. Make payments to the State from any moneys of the trust available therefor as may

be required pursuant to any agreement with the State or act appropriating moneys to

the trust; and s. Take any action necessary or convenient to the exercise of the foregoing powers

or reasonably implied therefrom.