18A:72A-12.6 'Dormitory Safety Trust Fund.' 6. a. There is created within the New Jersey educational facilities authority established pursuant to N.J.S.18A:72A-4, the 'Dormitory Safety Trust Fund,' hereinafter referred to as the 'trust fund.' The trust fund shall be maintained as a separate account and administered by the authority to carry out the provisions of P.L.2000, c.56 (C.52:27D-198.7 et al.). There shall be paid into this fund: (1) moneys received from the sale of bonds or notes issued pursuant to section 8 of P.L.2000, c.56 (C.18A:72A-12.8); (2) moneys appropriated by the Legislature, including moneys as may be appropriated annually in an amount sufficient to pay the principal and interest on the bonds or notes; (3) all interest and investment earnings received on the moneys in the trust fund; and (4) all repayments of loans authorized pursuant to P.L.2000, c.56 (C.52:27D-198.7 et al.). b. The trust fund shall be used to provide loans to the schools and institutions of higher education which are required pursuant to P.L.2000, c.56 (C.52:27D-198.7 et al.) to install automatic fire suppression systems, for the cost, or a portion of the cost, of the construction, s of higher education which are required pursuant to P.L.2000, c.56 (C.52:27D-198.7 et al.) to install automatic fire suppression systems, for the cost, or a portion of the cost, of the construction, reconstruction, development, extension or improvement of dormitory safety facilities, including fire prevention and sprinkler systems. L.2000,c.56,s.6.
New Jersey Legal Code