54:8A-21 - Endowment fund;Ā investment;Ā use
54:8A-21.Ā Endowment fund;Ā investment;Ā use
So much of the moneys as may be in the Transportation Fund at any time and as may be in excess of the amounts needed to meet anticipated uses thereof pursuant to this act during any fiscal year, shall be held and accumulated as an endowment fund, and may be invested and reinvested from time to time, in theĀ same manner as any State funds may be invested, and the income thereof, as wellĀ as so much of the principal as may be necessary from time to time, shall beĀ applied to the purposes authorized for the said Transportation Fund, within theĀ limits of available appropriations.
L.1961, c. 32, p. 136, s. 21, eff. May 29, 1961.
So much of the moneys as may be in the Transportation Fund at any time and as may be in excess of the amounts needed to meet anticipated uses thereof pursuant to this act during any fiscal year, shall be held and accumulated as an endowment fund, and may be invested and reinvested from time to time, in theĀ same manner as any State funds may be invested, and the income thereof, as wellĀ as so much of the principal as may be necessary from time to time, shall beĀ applied to the purposes authorized for the said Transportation Fund, within theĀ limits of available appropriations.
L.1961, c. 32, p. 136, s. 21, eff. May 29, 1961.