N.J.S.A. 40:37A-58 — Compliance of facility charges with terms of lease or other agreement regarding facility; adjustment of charges

40:37A-58. Compliance of facility charges with terms of lease or other agreement regarding facility; adjustment of charges The facility charges fixed, charged and collected by an authority with respect to any public facility shall comply with the terms of any lease or other agreement of the authority with regard to such public facility, and the facility charges fixed, charged and collected by an authority may be so adjusted that the revenues of the authority will at all times be adequate to pay all expenses of the authority, including the expenses of operation and maintenance of any public facility or other property owned or controlled by the authority, including insurance, improvements, replacements, reconstruction and any other required payments, and to pay the principal of and interest on any bonds, and to maintain such reserves or sinking funds for any of the foregoing purposes as may be required by the terms of any lease or other agreement of the authority or as may be deemed necessary or convenient and desirable by the authority. L.1960, c. 183, p. 738, s. 15, eff. Jan. 18, 1961.

This is the verbatim text of N.J.S.A. 40:37A-58, 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.