N.J. Admin. Code § 7:22-3.24 - State disbursement

Current through Register Vol. 54, No. 7, April 4, 2022

Disbursement of Fund loan moneys shall be made as indicated in the Fund loan agreement at intervals as work progresses and expenses are incurred by the recipient and as approved by the Department, but in no event will total disbursements at any time exceed the cumulative Fund loan amounts indicated in the disbursement schedule of the Fund loan agreement or the allowable costs which have been incurred at that time. No disbursement shall be made until the Department receives satisfactory cost documentation which must include all forms and information required by the Department and completed in a manner satisfactory to the Department.

Notes

N.J. Admin. Code § 7:22-3.24
Amended by R.1992 d.42, effective 1/21/1992.
See: 23 New Jersey Register 3282(a), 24 New Jersey Register 246(a).
Stipulated that total disbursement not exceed the "cumulative Fund loan amounts ... in the disbursement schedule of the Fund loan agreement," or allowable costs.
Amended by R.1998 d.407, effective 8/3/1998.
See: 30 New Jersey Register 1144(a), 30 New Jersey Register 2863(a).
Substituted "recipient" for "local government unit" in the first sentence.

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