New Jersey Statutes 52:18A-61. Power of state departments, agencies and instrumentalities to contract with the Authority
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Terms Used In New Jersey Statutes 52:18A-61
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- 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
Any department or agency and any instrumentality of the State by proper resolution or act, or acting by or through its director or other chief executive officer, may enter into any lease with the Authority for any project or part thereof, or any contract with the Authority for the use of any space in any project, or any contract with the Authority for the services to be rendered by the Authority in connection with any project, for such period of time, specified or unlimited, and upon such terms and conditions as are deemed necessary in order to provide the space or service contemplated by such lease or contract. Any such lease or contract may provide for the payment by the department, agency, or instrumentality of the State, of any rents or other charges to the Authority and may be made for a specified or an unlimited time and on any terms and conditions which may be approved by the department, agency, or instrumentality of the State, and which may be agreed to by the Authority. Such department, agency or instrumentality of the State is hereby authorized and directed to do and perform any and all acts or things necessary, convenient or desirable to carry out and perform every such contract and to provide for the payment or discharge of any obligation thereunder in the same manner as other obligations of such department, agency, or instrumentality of the State. Any such contract shall be valid and binding upon the department, agency, or instrumentality of the State, notwithstanding that no appropriation was made or provided to cover the cost or estimated cost of the contract.
L.1950, c. 255, p. 879, s. 12. Amended by L.1952, c. 224, p. 763, s. 6.