N.J.S.A. 26:2I-29 — Additional powers of authority in respect to loans.

26:2I-29 Additional powers of authority in respect to loans. 29. The authority also shall have power: a. To make loans to any health care organization for the construction or acquisition of projects in accordance with a loan agreement. No such loan shall exceed the total cost of such project. Each such loan shall be promised upon an agreement between the authority and the health care organization as to payment, security, maturity, redemption, interest and other appropriate matters. b. To make loans to any health care organization to refund existing bonds, mortgages or advances given or made by the health care organization for the construction of projects to the extent that this will enable the health care organization to offer greater security for loans for new project construction. L.1972,c.29,s.29; amended 1997, c.435, s.14.

This is the verbatim text of N.J.S.A. 26:2I-29, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.