New Jersey § 5:10-32
Full text of New Jersey New Jersey Statutes § 5:10-32, with citation guidance and answers to common questions.
§ 5:10-32.
Revenues, moneys or other funds, if any, derived from the operation or ownership of
an additional project or projects, including the conduct of horse race meetings, shall
be applied in accordance with and subject to the priorities set forth in the resolution
or resolutions authorizing or relating to the issuance of bonds or notes of the authority
to finance such additional project or projects to the following purposes in connection
with such additional project or projects: (1) The cost of operation and maintenance and reserves therefor; (2) Principal, sinking fund installments and redemption premiums of and interest on
any bonds or notes of the authority issued for the purposes of such additional project
or projects or for the purpose of refunding the same, including reserves therefor; (3) The costs of any major or extraordinary repairs, renewals, replacements, additions
or improvements not paid pursuant to paragraph (1) above, including reserves therefor; (4) Payments in-lieu-of-taxes required to be made pursuant to this act. The balance remaining after application in accordance with the above and after the
establishment of a reserve fund or funds for the development of a convention and cultural
facility by the authority pursuant to section 3 of this act, 1 shall be deposited in the General State Fund. 1
N.J.S.A. § 5:10-29.
Frequently Asked Questions About New Jersey § 5:10-32
What does New Jersey Statutes § 5:10-32 cover?
Section 5:10-32 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 § 5:10-32?
A common citation format is "New Jersey Statutes § 5:10-32" (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 § 5:10-32 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.