New Jersey Statutes 18A:72A-83. Higher education partnership agreements
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Terms Used In New Jersey Statutes 18A:72A-83
- Board: means the board of education. See New Jersey Statutes 18A:1-1
- Higher education: means that education which is provided by any or all of the public institutions of higher education as herein defined and any or all equivalent private institutions. See New Jersey Statutes 18A:1-1
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
49. A municipality and an institution of higher education may enter into a higher education partnership agreement for the development of a higher education project. The board shall promulgate rules and regulations, modeled after the procedures and protections set forth in the “Redevelopment Area Bond Financing Law,” sections 1 through 10 of P.L.2001, c.310 (C. 40A:12A-64 et seq.), within 120 days following the enactment of sections 47 through 49 of P.L.2009, c.90 (C. 18A:72A-81 et seq.) in order to effectuate the purposes of this section.
L.2009, c.90, s.49.