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New Jersey Statutes, Title: 26, HEALTH AND VITAL STATISTICS

    Chapter 2I: Declaration of serious public emergency relative to health care facilities

      Section: 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 section added to the Rutgers Database: 2012-09-26 13:37:49.

Older versions of 26:2I-29 (if available):

Court decisions that cite this statute: CLICK HERE.