reglab/housing_qa huggingface dataset:
NJ Rev Stat § 55:14K-10 (2021)
2021 New Jersey Revised Statutes|Title 55 - Tenement Houses and Public Housing|Section 55:14K-10 - Foreclosure action; parties defendant; entry of judgment; conditions; orders; qualification of buyers; other judgments; notices prior to sale

55:14K-10. Foreclosure action; parties defendant; entry of judgment; conditions; orders; qualification of buyers; other judgments; notices prior to sale  a. In any foreclosure action involving a housing sponsor other than a foreclosure action instituted by the agency, the agency and the municipality in which any tax exemption or abatement is provided to the housing sponsor shall, in addition to other necessary parties, be made parties defendant. The agency and the municipality shall take all steps in the action necessary to protect the interest of the public therein, and no costs shall be awarded against the agency or the municipality. b. Subject to the terms of any applicable loan agreement, contract or other instrument entered into or obtained pursuant to subsection a. of section 7 of this act, judgment of foreclosure in accordance with this section shall not be entered unless the court to which application therefor is made shall be satisfied that the interest of the lienholder or holders cannot be adequately secured or safeguarded except by the sale of the property; and in the proceeding the court shall be authorized to make an order increasing the rental or carrying charges to be charged for the housing accommodations in the housing project involved in the foreclosure, or appoint a member of the agency or any officer of the municipality in which any tax exemption or abatement with respect to the project is provided, as a receiver of the property, or grant such other and further relief as may be reasonable and proper; and in the event of a foreclosure or other judicial sale, the property shall be sold only to a housing sponsor which will manage, operate and maintain the project subject to the provisions of this act, unless the court finds that the interest and principal on the obligations secured by the lien which is the subject of foreclosure cannot be earned under the limitations imposed by the provisions of this act and that the proceeding was brought in good faith, in which event the property may be sold free of limitations imposed by this act or subject to such limitations as the court may deem advisable to protect the public interest. c. In the event of a judgment against any housing sponsor in any action not pertaining to the foreclosure of a mortgage, there shall be no sale of any of the real property included in any housing project hereunder of the housing sponsor except upon 120 days' written notice to the agency. Upon receipt of the notice the agency shall take those steps as in its judgment may be necessary to protect the rights of all parties. L.1983, c. 530, s. 10, eff. Jan. 17, 1984.
NJ Rev Stat § 55:14K-14 (2021)
2021 New Jersey Revised Statutes|Title 55 - Tenement Houses and Public Housing|Section 55:14K-14 - Boarding house rental assistance fund

55:14K-14. Boarding house rental assistance fund  There is hereby established in the Department of Community Affairs a fund to be known as the "Boarding House Rental Assistance Fund." The fund shall be under the control of the Commissioner of the Department of Community Affairs. The fund shall be maintained by the Department of the Treasury and may be invested by the Division of Investment in the Department of the Treasury in investments in which other State funds may be invested. There shall be deposited in the fund all moneys appropriated thereto by the Legislature and any other moneys made available for the purposes for which the fund is established. The fund is established for the purposes of (i) providing rental assistance to residents of boarding houses in need of assistance to meet the rental payments at the boarding houses in which they reside necessitated by the construction, acquisition or rendering of life safety improvements at or to the boarding houses with the proceeds of the life safety improvement loans made by the agency, (ii) providing a source of repayment for such life safety improvement loans, and (iii) subject to the approval of the treasurer, paying the cost to the Department of Community Affairs of discharging its obligations under sections 13 through 17 of this act. If needed to meet on a timely basis that part of the rental obligations of residents of boarding houses attributable to debt service (including fees and charges payable to the agency) on life safety improvement loans made by the agency to finance the construction, acquisition or rendering of life safety improvements at said boarding houses, the commissioner shall disburse from the fund to or on behalf of the residents of the boarding houses the amount of money which, together with amounts already disbursed and to be disbursed, will be sufficient to meet on a timely basis that part of the rental obligations of the residents of the boarding houses. If for any reason rental assistance payments made on behalf of residents are not sufficient to meet the debt service payments on the life safety improvement loans, then the commissioner shall disburse from the fund such amounts as are necessary to meet the debt service payments; or, upon the request of the agency, the commissioner shall disburse such amounts as are necessary to fully pay the life safety improvement loan and all related costs. L.1983, c. 530, s. 14, eff. Jan. 17, 1984.
NJ Rev Stat § 55:14K-15 (2021)
2021 New Jersey Revised Statutes|Title 55 - Tenement Houses and Public Housing|Section 55:14K-15 - Rental assistance agreements

55:14K-15. Rental assistance agreements  In furtherance of the purposes of sections 13 through 17 of this act, the Commissioner of the Department of Community Affairs is authorized to enter into rental assistance agreements with boarding house owners providing for the payment of rental assistance to or on behalf of the residents of the boarding houses in respect of that part of their rent that is attributable to debt service on life safety improvement loans, as determined by the agency. Rental assistance agreements may permit or require the commissioner to make (i) rental assistance payments on behalf of boarding house residents directly to the agency or (ii) direct payments to the agency in satisfaction of the boarding house owners' payment obligations on life safety improvement loans. As a condition to the payment of rental assistance, rental assistance agreements shall require that the boarding house owner remit to the commissioner for return to the Boarding House Rental Assistance Fund an amount equal to any rental assistance payment made by the commissioner to or on behalf of a resident of the boarding house who, were such resident a family as defined in subsection f. of section 3 of this act, would not have constituted a family qualified for admission to housing projects under section 8 of this act, at any time during the period covered by the rental assistance payment but the agency may establish a lower income standard for residents of boarding houses which would require remittance to the commissioner by the owners of boarding houses of rental assistance payments formerly made by the commissioner to or on behalf of residents with incomes above that income standard. L.1983, c. 530, s. 15, eff. Jan. 17, 1984.
NJ Rev Stat § 55:14K-16 (2021)
2021 New Jersey Revised Statutes|Title 55 - Tenement Houses and Public Housing|Section 55:14K-16 - Boarding house rental assistance fund annual report

55:14K-16. Boarding house rental assistance fund annual report  On or before December 1 of each year, the Commissioner of the Department of Community Affairs shall submit to the Governor and the State Treasurer a Boarding House Rental Assistance Fund Annual Report which shall include the following: (i) a summary of the activities and transactions of the Boarding House Rental Assistance Fund during the preceding fiscal year; (ii) an estimate of the amount of rental charges which will be made during the ensuing 12 months by the residents of boarding houses on account of the debt service (including fees and charges payable to the agency) on life safety improvement loans made by the agency to finance the construction, acquisition or rendering of life safety improvements at or to the boarding houses, together with a brief description of each of the boarding house's life safety improvement loans and life safety improvements and a summary of various characteristics of the residents of the boarding houses, including their ages, disabilities, if any, and income levels; (iii) a statement as to the maximum amount of debt service payable in any one year on all outstanding obligations of the agency issued with respect to life safety improvement loans; and (iv) an estimate of, and request for, the amount of money in addition to the then current balance of the Boarding House Rental Assistance Fund which will be needed in the ensuing fiscal year to meet the disbursements from the fund which the commissioner anticipates will be made in furtherance of the purposes of the fund and in satisfaction of the commissioner's obligations under rental assistance agreements. L.1983, c. 530, s. 16, eff. Jan. 17, 1984.
NJ Rev Stat § 55:14K-19 (2021)
2021 New Jersey Revised Statutes|Title 55 - Tenement Houses and Public Housing|Section 55:14K-19 - New Jersey housing development corporation

55:14K-19. New Jersey housing development corporation  a. In order to carry out the purposes and provisions of this act, there is hereby chartered in, but not of, the agency the New Jersey Housing Development Corporation. b. The corporation shall be organized, managed and operated as an entity distinct from the agency, except that members and employees of the agency may be officers and directors of the corporation; but it shall be empowered to act as agent of the agency under contractual agreements relating to matters set forth in subsection c. of this section. c. The corporation may issue its stock and employ the proceeds of such sales: (1) To purchase residential structures in need of rehabilitation and rehabilitate them for purposes of resale, including resale under lease-purchase agreements. (2) To contract for the construction of new residential structures and to assume ownership of the same for the purposes of resale, including lease-purchase agreements. (3) To co-venture with other public or private agencies or corporations as an investor in major rehabilitation or construction projects of the types described in paragraphs (1) and (2) of this subsection. d. The agency is directed to complete the organization of the corporation unless the members of the agency vote not to so organize and so advise the Governor and the Legislature. L.1983, c. 530, s. 19, eff. Jan. 17, 1984.
NJ Rev Stat § 55:14K-23 (2021)
2021 New Jersey Revised Statutes|Title 55 - Tenement Houses and Public Housing|Section 55:14K-23 - Pledges of income, revenues or other property

55:14K-23. Pledges of income, revenues or other property  Any pledge made by the agency of income, revenues or other property shall be valid and binding from the time the pledge is made. The income, revenue or other property so pledged by the agency shall immediately be subject to the lien of the pledge without any physical delivery thereof or further act, and the lien of any pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the agency, irrespective of whether such parties have notice thereof. Neither the resolution nor any other instrument by which a pledge is created need be filed or recorded except in the records of the agency. L.1983, c. 530, s. 23, eff. Jan. 17, 1984.
NJ Rev Stat § 55:14K-24 (2021)
2021 New Jersey Revised Statutes|Title 55 - Tenement Houses and Public Housing|Section 55:14K-24 - Allocation of state ceiling on aggregate amount of qualified mortgage bonds under I.R.C. s. 103A(g) to agency

55:14K-24. Allocation of state ceiling on aggregate amount of qualified mortgage bonds under I.R.C. s. 103A(g) to agency  For purposes of subsection (g) of section 103A of the federal Internal Revenue Code of 1954, as amended, the State ceiling on the aggregate amount of qualified mortgage bonds which may be issued in the State shall be allocated 100% to the agency. L.1983, c. 530, s. 24, eff. Jan. 17, 1984.
NJ Rev Stat § 55:14K-25 (2021)
2021 New Jersey Revised Statutes|Title 55 - Tenement Houses and Public Housing|Section 55:14K-25 - Reservation of funds for use in municipalities eligible for state aid for services and to offset property taxes

55:14K-25. Reservation of funds for use in municipalities eligible for state aid for services and to offset property taxes  At least 25% of the funds made available by the agency for the acquisition, operation, construction, rehabilitation, conversion, improvement or ownership of residential properties of from one to four, or from five to 12, dwelling units shall be reserved for use in municipalities which qualify for State aid under P.L.1978, c. 14 (C. 52:27D-178 et seq.). The period of reservation shall be established by the agency at its discretion, but shall not be less than four months. The period may be extended at the agency's discretion, with or without adjusting the amount of funds so reserved. L.1983, c. 530, s. 25, eff. Jan. 17, 1984.
NJ Rev Stat § 55:14K-26 (2021)
2021 New Jersey Revised Statutes|Title 55 - Tenement Houses and Public Housing|Section 55:14K-26 - Inclusion of interest on bonds in gross income for purposes of federal income tax

55:14K-26. Inclusion of interest on bonds in gross income for purposes of federal income tax  The agency may consent, at or prior to the time of issuance of any issue of its bonds, to the inclusion of interest on such bonds in the gross income of holders of such bonds under the federal Internal Revenue Code of 1954, as amended, or any subsequent federal law, to the same extent and in the same manner as the interest on bills, notes, bonds and other obligations of the United States is includible in the gross income of the holders thereof under the federal Internal Revenue Code of 1954, as amended, or any subsequent federal law. Nothing contained in this act shall be construed to waive or to authorize the agency to waive any other exemption, privilege or immunity of the State or to consent or to authorize the agency to consent to the application of any other provision of any other laws, federal or State, to the agency or to its bonds, which would not otherwise be so applicable. L.1983, c. 530, s. 26, eff. Jan. 17, 1984.
NJ Rev Stat § 55:14K-27 (2021)
2021 New Jersey Revised Statutes|Title 55 - Tenement Houses and Public Housing|Section 55:14K-27 - No personal liability on bonds

55:14K-27. No personal liability on bonds  Neither the members of the agency nor any person executing bonds issued pursuant to this act shall be liable personally on such bonds by reason of the issuance thereof. L.1983, c. 530, s. 27, eff. Jan. 17, 1984.
NJ Rev Stat § 55:14K-28 (2021)
2021 New Jersey Revised Statutes|Title 55 - Tenement Houses and Public Housing|Section 55:14K-28 - Purchase of bonds of agency by agency

55:14K-28. Purchase of bonds of agency by agency  The agency shall have power to purchase bonds of the agency out of any funds available therefor. The agency may hold, cancel or resell such bonds subject to and in accordance with agreements with holders of its bonds. L.1983, c. 530, s. 28, eff. Jan. 17, 1984.
NJ Rev Stat § 55:14K-31 (2021)
2021 New Jersey Revised Statutes|Title 55 - Tenement Houses and Public Housing|Section 55:14K-31 - General fund of agency

55:14K-31. General fund of agency  a. The agency shall establish and maintain a fund called the "General Fund" which shall consist of all moneys of the agency not required to be deposited in any other fund of the agency, which the agency may deposit therein. To the extent available, after paying all the operating costs of the agency, the moneys remaining in the General Fund may be used for the payment of the principal of and interest on the bonds issued by the agency or for such other corporate purposes of the agency as this act authorizes. b. The agency may establish such additional and further funds as may be necessary and desirable to accomplish any agency purpose or to comply with the provisions of any agreement made by the agency or any resolution approved by the agency. The resolution establishing such a fund shall specify the source of moneys from which it shall be funded and the purposes for which moneys held in the fund shall be disbursed. L.1983, c. 530, s. 31, eff. Jan. 17, 1984.
NJ Rev Stat § 55:14K-32 (2021)
2021 New Jersey Revised Statutes|Title 55 - Tenement Houses and Public Housing|Section 55:14K-32 - Pledge, covenant and agreement of state with bondholders

55:14K-32. Pledge, covenant and agreement of state with bondholders  The State of New Jersey does hereby pledge to and covenant and agree with the holders of any bonds issued pursuant to the authority of this act that the State will not limit, restrict or alter the rights or powers hereby vested in the agency to perform and fulfill the terms of any agreement made with the holders of such bonds, or in any way impair the rights or remedies of such holders until such bonds, together with interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceedings by or in behalf of such holders, are fully met, paid and discharged. The agency may include this pledge and agreement of the State in any agreement with the holders of bonds issued by the agency. L.1983, c. 530, s. 32, eff. Jan. 17, 1984.
NJ Rev Stat § 55:14K-33 (2021)
2021 New Jersey Revised Statutes|Title 55 - Tenement Houses and Public Housing|Section 55:14K-33 - Bonds as legal investment

55:14K-33. Bonds as legal investment  Notwithstanding any restriction contained in any other law, all banks, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies, and other persons carrying on a banking or investment business, all insurance companies, insurance associations and other persons carrying on an insurance business, and all executors, administrators, guardians, trustees and other fiduciaries, may legally invest any sinking funds, moneys or other funds belonging to them or within their control in any bonds issued pursuant to this act, and such bonds shall be authorized security for any and all public deposits. L.1983, c. 530, s. 33, eff. Jan. 17, 1984.
NJ Rev Stat § 55:14K-34 (2021)
2021 New Jersey Revised Statutes|Title 55 - Tenement Houses and Public Housing|Section 55:14K-34 - Tax exemptions

55:14K-34. Tax exemptions  a. All property of the agency is hereby declared to be public property devoted to an essential public and governmental function and purpose and shall be exempt from all taxes and special assessments of the State or any subdivision thereof. All bonds issued pursuant to this act are hereby declared to be issued by a body corporate and politic of this State and for an essential public and governmental purpose and such bonds, and the interest thereon and the income therefrom, and all fees, charges, funds, revenues, income and other moneys pledged or available to pay or secure the payment of such bonds, or interest thereon, shall at all times be exempt from taxation, except for transfer inheritance and estate taxes. b. The sale to a housing sponsor of all materials and supplies to be used to construct, improve or rehabilitate a housing project financed by a loan made by the agency to the housing sponsor shall be exempt from all sales taxes of the State or any subdivision thereof. L.1983, c. 530, s. 34, eff. Jan. 17, 1984.
NJ Rev Stat § 55:14K-35 (2021)
2021 New Jersey Revised Statutes|Title 55 - Tenement Houses and Public Housing|Section 55:14K-35 - Exemption of property from levy and sale by execution, judicial process or charge or lien of judgment

55:14K-35. Exemption of property from levy and sale by execution, judicial process or charge or lien of judgment  All property of the agency, except as otherwise provided herein, shall be exempt from levy and sale by virtue of an execution and no execution or other judicial process shall issue against the same nor shall any judgment against the agency be a charge or lien upon its property; except that nothing herein contained shall apply to or limit the rights of the holder of any bonds to pursue any remedy for the enforcement of any pledge or lien given by the agency on its revenues or other moneys. L.1983, c. 530, s. 35, eff. Jan. 17, 1984.
NJ Rev Stat § 55:14K-36 (2021)
2021 New Jersey Revised Statutes|Title 55 - Tenement Houses and Public Housing|Section 55:14K-36 - Insurance or guarantee of payment of interest or principal of loans or bonds; obtaining from federal department or agency or other person

55:14K-36. Insurance or guarantee of payment of interest or principal of loans or bonds; obtaining from federal department or agency or other person  a. The agency may obtain, or aid in obtaining, from any department or agency of the United States or any other person any insurance or guarantee as to, or of or for the payment or repayment of interest or principal, or both, or any part thereof, on any loan or any instrument evidencing or securing the same, made or entered into pursuant to the provisions of this act; and notwithstanding any other provisions of this act enter into any agreement, contract or any other instrument whatsoever with respect to any such insurance or guarantee, and accept payment in such manner and form as provided therein in the event of the default by the borrower. b. The agency may obtain from any department or agency of the United States or any other person any insurance or guarantee as to, or of or for the payment or repayment of, interest or principal, or both, or any part thereof, on any bonds issued by the agency pursuant to the provisions of this act; and notwithstanding any other provisions of this act enter into any agreement, contract or any other instrument whatsoever with respect to any such insurance or guarantee except to the extent that such action would in any way impair or interfere with the agency's ability to perform and fulfill the terms of any agreement made with the holders of the bonds of the agency. L.1983, c. 530, s. 36, eff. Jan. 17, 1984.