New Jersey Statutes 55:14J-50. Federal grants; establishment and maintenance of mortgage assistance fund
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Terms Used In New Jersey Statutes 55:14J-50
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
The commissioner is hereby empowered to enter into negotiations with the Federal Government for the purpose of securing any available financial grants and to receive any such grants and thereafter the State Treasurer may cause them to be established and maintained in the aforementioned Mortgage Assistance Fund. Any such funds so established and maintained may be requisitioned by the Department of Community Affairs for the uses and purposes specified herein, subject to the same restrictions and control as are exercised over all other appropriated State funds, but not inconsistent with the provisions of the act hereinabove mentioned.
L.1976, c. 133, s. 10, eff. Dec. 27, 1976.