N.J. Admin. Code § 19:32-2.4

Current through Register Vol. 57, No. 1, January 6, 2025

Section 19:32-2.4 - Execution of the grant agreement

(a) The district shall execute the grant agreement pursuant to such terms and conditions as the Authority may determine in its sole discretion.

1. The grant agreement shall be executed by an authorized officer. A true copy of the authorizing resolution of the district shall also be submitted to the Authority at such time, together with all certifications, opinions, and documents required to be submitted at the time of execution of the grant agreement including, but not limited to, a certificate executed by the school business administrator in the form to be provided by the Authority.

2. Upon execution of the grant agreement by the district, the district shall return the grant agreement together with all applicable attachments to the Authority for execution by the Authority, whereupon the Authority shall transmit a copy of the executed grant agreement to the district.

3. The Authority shall have no obligation to execute a grant agreement unless and until the Authority has determined that all conditions precedent to the execution of the grant agreement have been satisfied as the Authority may determine.

(b) The district shall execute the grant agreement within such period of time as the Authority may determine in its sole discretion.

1. The district shall have 18 months from the date of the Department's determination of final eligible costs for a school facilities project to secure funding for the local share of the project.

2. In the event that the district has not secured funding for the local share of the project within 18 months from the date of the Department's determination of final eligible costs pursuant to N.J.S.A. 18A:7G-5.h and N.J.A.C. 6A:26-3.6, the grant agreement shall be automatically rescinded. No action need be taken by the Authority to effect or confirm the rescission of the grant agreement offer.

3. After a grant agreement offer has been rescinded, a district interested in having the grant offer reinstated shall request in writing that the Authority reinstate the grant offer.

4. If the Authority receives a request from the district to reinstate the grant offer and the district remains eligible for the grant, the Authority shall reinstate the grant offer and so notify the district.

N.J. Admin. Code § 19:32-2.4

Amended by 47 N.J.R. 2001(a), effective 8/3/2015

Amended by 55 N.J.R. 756(a), effective 4/17/2023