|
|
|
Higher Education Equipment Leasing Fund (HE ELF)
In 1994, the Authority sold $100 million principal amount of bonds under this program. The funds were used to finance the purchase of equipment to be leased to participating institutions. The bonds sold under the Authority’s initial statutory authorization were fully retired on September 1, 2000. Governor Whitman approved the reauthorization of this $100 million program of which $87,385,000 in par amount of bonds was sold in October of 2001 to make loans to 41 institutions. The remaining authorization of $12,620,000 was issued in May 2003.
|
| Issue |
Maturity |
Interest Rate |
Principal |
Outstanding
4/1/2010 |
| 2001 A |
09/01/2009 |
3.5%-5.0% |
$87,385,000 |
$0 |
| 2003 A |
09/01/2011 |
2.0%-5.0% |
$12,620,000 |
$940,000 |
| |
|
Total |
$100,005,000 |
$940,000 |
|
| Original Loan Amounts |
| Series 2001 A |
| Institution |
Allocation |
| Raritan Valley Community College |
$1,016,987 |
| Princeton University |
$250,000 |
| Thomas Edison State College |
$1,050,000 |
| Rutgers, The State University |
$22,257,500 |
| University of Medicine & Dentistry of New Jersey |
$10,538,500 |
| New Jersey Institute of Technology |
$2,488,500 |
| New Jersey City University |
$2,488,500 |
| Kean University |
$3,361,142 |
| Montclair State University |
$4,042,500 |
| Richard Stockton College of New Jersey |
$1,690,700 |
| William Paterson University of New Jersey |
$3,417,750 |
| Bloomfield College |
$578,848 |
| Caldwell College |
$612,848 |
| Centenary College |
$474,327 |
| College of Saint Elizabeth |
$578,848 |
| Drew University |
$654,417 |
| Fairleigh Dickinson University |
$1,359,345 |
| Felician College |
$521,342 |
| Georgian Court College |
$659,863 |
| Monmouth University |
$1,058,956 |
| Rider University |
$1,048,597 |
| Saint Peter's College |
$774,078 |
| Seton Hall University |
$1,679,312 |
| Stevens Institute of Technology |
$765,648 |
| Atlantic Cape County Community College |
$1,051,938 |
| Bergen County Community College |
$1,834,390 |
| Brookdale Community College |
$889,768 |
| Camden County Community College |
$842,812 |
| Cumberland County Community College |
$819,132 |
| Essex County Community College |
$1,751,266 |
| Hudson County Community College |
$1,085,673 |
| Mercer County Community College |
$1,476,064 |
| Middlesex County Community College |
$1,714,188 |
| Morris County Community College |
$1,365,739 |
| Ocean County Community College |
$1,288,847 |
| Passaic County Community College |
$948,148 |
| Salem County Community College |
$677,048 |
| Sussex County Community College |
$889,794 |
| Union County Community College |
$1,543,383 |
| Warren County Community College |
$239,625 |
| Burlington County Community College |
$1,125,184 |
| |
| Series 2003 A |
| Institution |
Allocation |
| The College of New Jersey |
$3,108,000 |
| Kean University |
$161,608 |
| Ramapo College of New Jersey |
$1,869,000 |
| Richard Stockton College of New Jersey |
$797,800 |
| Rowan University |
$3,213,000 |
| Fairleigh Dickinson University |
$167,501 |
| Stevens Institute of Technology |
$66,070 |
| Brookdale Community College |
$823,204 |
| Camden County Community College |
$894,474 |
| Gloucester County Community College |
$1,073,668 |
| Warren County Community College |
$448,668 |
| |
|
