Title 32, Title 32: INTERSTATE AND PORT AUTHORITIES AND COMMISSIONS

32:11D-64. Borrowing power The commission may borrow money for any of the purposes of this compact, and may issue its negotiable bonds and other evidences of indebtedness in respect thereto. All such bonds and evidences of indebtedness shall be payable solely out of the propertie…

32:11D-65. Funds and expenses The purposes of this compact shall include without limitation thereto all costs of any project or facility or any part thereof, including interest during a period of construction and a reasonable time thereafter and any incidental expenses (legal, en…

32:11D-66. Credit excluded; officers, State and municipal The commission shall have no power to pledge the credit of any signatory party, or of any county or municipality, or to impose any obligation for payment of the bonds upon any signatory party or any county or municipality.…

32:11D-67. Funding and refunding Whenever the commission deems it expedient, it may fund and refund its bonds and other obligations whether or not such bonds and obligations have matured. It may provide for the issuance, sale or exchange of refunding bonds for the purpose of rede…

32:11D-68. Bonds; authorization generally Bonds and other indebtedness of the commission shall be authorized by resolution of the commission. The validity of the authorization and issuance of any bonds by the commission shall not be dependent upon nor affected in any way by: (i) …

32:11D-69. Bonds; resolutions and indentures generally The commission may determine and enter into indentures providing for the principal amount, date or dates, maturities, interest rate, denominations, form, registration, transfer, interchange and other provisions of the bonds a…

32:11D-7. Commission created The Delaware River Basin Commission is hereby created as a body politic and corporate, with succession for the duration of this compact, as an agency and instrumentality of the governments of the respective signatory parties. L.1961, c. 13, p. 48, s. …

32:11D-70. Maximum maturity No bond by its terms shall mature in more than 50 years from its own date and in the event any authorized issue is divided into 2 or more series or divisions, the maximum maturity date hereby authorized shall be calculated from the date on the face of …

32:11D-71. Tax exemption All bonds issued by the commission under the provisions of this compact and the interest thereof shall at all times be free and exempt from all taxation by or under authority of any of the signatory parties, except for transfer, inheritance and estate tax…

32:11D-72. Interest Bonds shall bear interest at a rate determined by the commission, payable annually or semiannually. L.1961, c. 13, p. 71, s. 12.9. Amended by L.1970, c. 266, s. 1; L.1983, c. 526, s. 1.

32:11D-73. Place of payment The commission may provide for the payment of the principal and interest of bonds at any place or places within or without the signatory States, and in any specified lawful coin or currency of the United States of America. L.1961, c. 13, p. 72, s. 12.1…

32:11D-74. Execution The commission may provide for the execution and authentication of bonds by the manual, lithographed or printed facsimile signature of officers of the commission, and by additional authentication by a trustee or fiscal agent appointed by the commission. If an…

32:11D-75. Holding own bonds The commission shall have power out of any funds available therefor to purchase its bonds and may hold, cancel or resell such bonds. L.1961, c. 13, p. 72, s. 12.12.

32:11D-76. Sale The commission may fix terms and conditions for the sale or other disposition of any authorized issue of bonds. The commission may sell bonds at less than their par or face value but no issue of bonds may be sold at an aggregate price below the par or face value t…

32:11D-77. Negotiability All bonds issued under the provisions of this compact are negotiable instruments, except when registered in the name of a registered owner. L.1961, c. 13, p. 73, s. 12.14.

32:11D-78. Legal investments Bonds of the commission shall be legal investments for savings banks, fiduciaries and public funds in each of the signatory States. L.1961, c. 13, p. 73, s. 12.15.

32:11D-79. Validation proceedings Prior to the issuance of any bonds, the commission may institute a special proceeding to determine the legality of proceedings to issue the bonds and their validity under the laws of any of the signatory parties. Such proceeding shall be institut…

32:11D-8. Commission membership The commission shall consist of the Governors of the signatory States, ex officio, and 1 commissioner to be appointed by the President of the United States to serve during the term of office of the President. L.1961, c. 13, p. 48, s. 2.2.

32:11D-80. Recording No indenture need be recorded or filed in any public office, other than the office of the commission. The pledge of revenues provided in any indenture shall take effect forthwith as provided therein and irrespective of the date of receipt of such revenues by …

32:11D-81. Pledged revenues Bond redemption and interest payments shall, to the extent provided in the resolution or indenture, constitute a first, direct and exclusive charge and lien on all such rates, rents, tolls, fees and charges and other revenues and interest thereon recei…

32:11D-82. Remedies The holder of any bond may for the equal benefit and protection of all holders of bonds similarly situated: (a) by mandamus or other appropriate proceedings require and compel the performance of any of the duties imposed upon the commission or assumed by it, i…

32:11D-83. Capital financing by signatory parties; guaranties (a) The signatory parties will provide such capital funds required for projects of the commission as may be authorized by their respective statutes in accordance with a cost sharing plan prepared pursuant to Article 11…

32:11D-84. Comprehensive plan The commission shall develop and adopt, and may from time to time review and revise, a comprehensive plan for the immediate and long range development and use of the water resources of the basin. The plan shall include all public and private projects…

32:11D-85. Water resources program The commission shall annually adopt a water resources program, based upon the comprehensive plan, consisting of the projects and facilities which the commission proposes to be undertaken by the commission and by other authorized governmental and…

32:11D-86. Annual current expense and capital budgets (a) The commission shall annually adopt a capital budget including all capital projects it proposes to undertake or continue during the budget period containing a statement of the estimated cost of each project and the method …

32:11D-87. Auxiliary powers of commission; functions of commissioners (a) The commission, for the purposes of this compact, may: (1) Adopt and use a corporate seal, enter into contracts, sue and be sued in all courts of competent jurisdiction; (2) Receive and accept such payments…

32:11D-88. Regulations; enforcement The commission may: (a) Make and enforce reasonable rules and regulations for the effectuation, application and enforcement of this compact; and it may adopt and enforce practices and schedules for or in connection with the use, maintenance and…

32:11D-89. Tax exemption The commission, its property, functions, and activities shall be exempt from taxation by or under the authority of any of the signatory parties or any political subdivision thereof; provided that in lieu of property taxes the commission shall, as to speci…

32:11D-9. Alternates Each member of the commission shall appoint an alternate to act in his place and stead, with authority to attend all meetings of the commission, and with power to vote in the absence of the member. Unless otherwise provided by law of the signatory party for w…

32:11D-90. Meetings; public hearing; records, minutes (a) All meetings of the commission shall be open to the public. (b) The commission shall conduct at least 1 public hearing prior to the adoption of the comprehensive plan, water resources program, annual capital and current ex…

32:11D-91. Officers generally (a) The officers of the commission shall consist of an executive director and such additional officers, deputies and assistants as the commission may determine. The executive director shall be appointed and may be removed by the affirmative vote of a…

32:11D-92. Oath of office An oath of office in such form as the commission shall prescribe shall be taken, subscribed and filed with the commission by the executive director and by each officer appointed by him not later than 15 days after the appointment. L.1961, c. 13, p. 81, s…

32:11D-93. Bonds Each officer shall give such bond and in such form and amount as the commission may require for which the commission may pay the premium. L.1961, c. 13, p. 81, s. 14.7.

32:11D-94. Prohibited activities (a) No commissioner, officer or employee shall: (1) be financially interested, either directly or indirectly, in any contract, sale, purchase, lease or transfer of real or personal property to which the commission is a party; (2) solicit or accept…

32:11D-95. Purchasing Contracts for the construction, reconstruction or improvement of any facility when the expenditure required exceeds $10,000.00 and contracts for the purchase of services, supplies, equipment and materials when the expenditure required exceeds $2,500.00 shall…

32:11D-96. Insurance The commission may self-insure or purchase insurance and pay the premiums therefor against loss or damage to any of its properties; against liability for injury to persons or property; and against loss of revenue from any cause whatsoever. Such insurance cove…

32:11D-97. Annual independent audit (a) As soon as practical after the closing of the fiscal year, an audit shall be made of the financial accounts of the commission. The audit shall be made by qualified certified public accountants selected by the commission, who have no persona…

32:11D-98. Reports The commission shall make and publish an annual report to the legislative bodies of the signatory parties and to the public reporting on its programs, operations and finances. It may also prepare, publish and distribute such other public reports and information…

32:11D-99. Grants, loans or payments by States or political subdivisions (a) Any or all of the signatory parties or any political subdivision thereof may: (1) Appropriate to the commission such funds as may be necessary to pay preliminary expenses such as the expenses incurred in…

32:11E-1. Delaware-New Jersey Compact 1. The State of New Jersey hereby agrees with the State of Delaware, upon enactment by the State of Delaware of legislation having the same effect as this section, to the following compact:DELAWARE-NEW JERSEY COMPACTWhereas, The states of Del…

32:11E-1.1. Public hearing required for Delaware River and Bay Authority project approval The Delaware River and Bay Authority shall not approve any project, other than a crossing, or part thereof without first holding a public hearing on the proposed project. The authority shall…

32:11E-1.10 Adoption of revised policies relative to open public records, meetings 2. The authority shall revise its policies concerning open public records and open public meetings after undertaking a review of the current statutes in each of the two states in this regard. The a…

32:11E-1.11 Project in Gloucester County, certain, authorized. 1. For the purposes of complying with the provisions of section 1 of P.L.1989, c.191 (C.32:11E-1.1), the Delaware River and Bay Authority created pursuant to the "Delaware-New Jersey Compact," enacted pursuant to 53 L…

32:11E-1.2. Delaware Memorial Bridge toll increases regulated The authority shall not increase any rate of Delaware Memorial Bridge toll charged as a volume discount rate from the rate in effect on the earlier of the effective date of (i) ..... Del. Laws, C. ....., s. ..... (now …

32:11E-1.3. Modifications of Delaware-New Jersey Compact; consent, approval The Governor is hereby authorized to apply on behalf of the State of New Jersey to the Congress of the United States for its consent and approval to any modifications to the compact and to the use of toll…

32:11E-1.4. Delaware River and Bay Authority, project authorized 1. For the purposes of complying with the provisions of section 1 of P.L.1989, c.191 (C.32:11E-1.1) the Delaware River and Bay Authority created pursuant to the "Delaware-New Jersey Compact," enacted pursuant to 53 …