2A:37-41.1. Loan of moneys in separate fund to Rutgers University

From the fund established by section 2A:37-41 of the New Jersey Statutes, the State Treasurer is hereby authorized to lend to Rutgers, the State University, a sum not exceeding $1,000,000.00 for the purpose of constructing student dormitories and related capital facilitieS.Any such loan shall be repaid in equal annual installments over a period of 20 years commencing July 1, 1962 at a rate of interest equal to 4% per annum computed over the life of the loan.

L.1961, C. 31, p. 123, S.1, eff. May 25, 1961.

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