N.J. Admin. Code § 19:31G-1.10

Current through Register Vol. 56, No. 12, June 17, 2024

Section 19:31G-1.10 - Evaluation process for financial assistance and grants

(a) When all of the required information is received, the Authority will perform its own underwriting criteria. For public entities, all Local Finance Board requirements must be satisfied.

(b) After completing (a) above, a determination shall be made as to the merits of the request, the likelihood of repayment, and the adequacy of the collateral available to secure the requested financial assistance.

(c) If a positive determination is made, the requested financial assistance or grant shall be presented to the Members for approval.

N.J. Admin. Code § 19:31G-1.10

Amended by R.2000 d.297, effective 7/17/2000.
See: 32 N.J.R. 1705(a), 32 N.J.R. 2602(c).
Inserted (a)9.
Recodified from N.J.A.C. 19:31-8.8 and amended by R.2006 d.369, effective 10/16/2006.
See: 38 N.J.R. 3001(a), 38 N.J.R. 4503(a).
In the introductory paragraph of (a), substituted "applicable criteria as determined by the Authority, including" for "the following"; in (a)1, inserted ", or real property which is the subject of the application"; in (a)9, substituted "public entities" for "municipal government entities"; and in (c), inserted "or grant". Former N.J.A.C. 19:31-8.10, Disbursement of financial assistance and grants, recodified to N.J.A.C. 19:31-8.12.
Amended by R.2021 d.126, effective 11/1/2021.
See: 53 N.J.R. 1270(a), 53 N.J.R. 1859(a).
Rewrote the section.

Recodified from 19:31-8.10 56 N.J.R. 807(a), effective 5/6/2024