Statutue |
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18A:72A-59 Short
title.
1. This act shall be known and may be cited as the "Higher
Education Technology Infrastructure Fund Act."
L.1997,c.238,s.1.
18A:72A-60 Findings, declarations relative
to higher education technology infrastructure.
2. The Legislature finds and declares that:
a. New Jersey's public and independent colleges
and universities contribute substantially to the local,
State, and national economies
by developing the workforce, advancing knowledge through research and
scholarship, and serving as a repository for information.
b. An integrated technology infrastructure is increasingly
critical to teaching, research, workforce training, and
the effectiveness and
efficiency of New Jersey's higher education system.
c. Up-to-date telecommunications and information
technology, including connectivity within and among institutions
and with libraries and elementary
and secondary schools, will enable students and faculty to access information
and educational opportunities efficiently and effectively and will increase
opportunities for institutions to collaborate and share resources.
d. Consortial arrangements and distance learning offer significant potential
to reduce costs and increase access, but these new modes of delivery
cannot succeed without a technology infrastructure which insures compatibility
and connectivity.
e. Colleges and universities must address substantial, yet varying, technological
needs in order to participate fully in a comprehensive, current telecommunications
network. To strengthen New Jersey's competitiveness and enhance
the State's higher education system in a global and highly technological
economy, it is essential to establish a dedicated source of funding to
support investment by New Jersey's public and independent higher education
institutions in technology infrastructure.
L.1997,c.238,s.2.
18A:72A-61 "Higher Education Technology
Infrastructure Fund."
3. There is created within the New Jersey Educational Facilities
Authority , established pursuant to N.J.S.18A:72A-1 et seq., the "Higher
Education Technology Infrastructure Fund," hereinafter referred
to as the "technology fund." The technology fund shall
be maintained as a separate account and administered by the authority
to carry out the provisions of this act. The technology fund shall
consist of:
a. moneys received from the issuance of bonds or
notes pursuant to section 7 of P.L.1997, c.238 (C.18A:72A-65);
b. all moneys appropriated by the State for the purposes of the
fund; and
c. all interest and investment earnings received on moneys in the technology
fund.
L.1997,c.238,s.3.
18A:72A-62 Use of technology fund.
4. The technology fund shall be used to develop technology infrastructure
within and among New Jersey's institutions of higher education in order
to provide access effectively and efficiently to information, educational
opportunities, and workforce training. Funds may also be used to
enhance the connectivity of higher education institutions to libraries
and elementary and secondary schools.
As used in this act, "technology infrastructure" means video,
voice, and data telecommunications equipment and linkages, including
transport services and network interconnections.
L.1997,c.238,s.4.
18A:72A-63 Grant conditions, allocations.
5. The use of a grant from the technology fund shall require a
matching amount from an institution equal to the amount of the grant
provided. The initial grants from the technology fund shall be
allocated as follows:
a. a minimum of $12,600,000 for the acquisition
of higher education technology infrastructure at the
State colleges;
b. a minimum of $7,722,000 for the acquisition of higher education
technology infrastructure at Rutgers, The State University;
c. a minimum of $4,306,500 for the acquisition of higher education
technology infrastructure at the University of Medicine and Dentistry
of New Jersey;
d. a minimum of $2,821,500 for the acquisition
of higher education technology infrastructure at the
New Jersey Institute of Technology;
e. a minimum of $12,600,000 for the acquisition
of higher education technology infrastructure at the
county colleges;
f. a minimum of $4,950,000 for the acquisition
of higher education technology infrastructure at private
institutions of higher education;
g. a maximum of $5,000,000 for interconnectivity among the higher
education institutions. Expenditures shall be based on an inter-institutional
needs assessment. If, as a result of the needs assessment, less than
$5,000,000 is expended from the funds allocated in this subsection, the
remaining funds shall be allocated among the institutions designated
in subsections a. through f. of this section based on the percentage
of the total funds allocated in each of the subsections a. through f.;
and
h. a minimum of $5,000,000 for non-matching public
library grants or for Statewide library technology initiatives
through the New Jersey
State Library.
The Commission on Higher Education may reallocate any balance in the
amount authorized in subsections a. through g. of this section, which
has not been approved by the commission for a grant within 18 months
of the effective date of P.L.1997, c.238 (C.18A:72A-59 et seq.).
The commission shall determine the allocation of
moneys deposited into the technology fund resulting from
the issuance by the authority
of new bonds because of the retirement of bonds previously issued by
the authority.
Acquisition of technology infrastructure funded by grants
from the technology fund shall follow the principles
of affirmative action and equal opportunity
employment. In furtherance of these principles, the commission
shall continue its policy of encouraging institutions to solicit bids
from, and award contracts to, minority and women-owned businesses.
L.1997,c.238,s.5.
18A:72A-64 Application for grant, conditions.
6. a. The governing board of a public or private institution of
higher education may determine, by resolution, to apply for a grant from
the technology fund. Upon adoption of the resolution, the board
shall file an application with the Commission on Higher Education, which
application shall include a complete description of the technology infrastructure
to be acquired and an identification of the sources of revenue to be
used for the required institutional match.
b. The commission shall review the application and, by resolution,
approve or disapprove the grant. For each grant which is approved, the
commission shall establish the amount and shall forward a copy of the
resolution along with the amount of the grant to the authority.
c. Each grant awarded under this act shall be contingent
upon the recipient governing board entering into a contract
or contracts for the
acquisition of technology infrastructure within one year of the date
on which the funds of the grant are made available to the institution.
L.1997,c.238,s.6.
18A:72A-65 Issuance of bonds, notes.
7. a. The authority shall from time to time issue bonds or notes
in an amount sufficient to finance the grants provided under this act
and to finance the administrative costs associated with the approval
process and the issuance of the bonds and notes for the purchase of higher
education technology infrastructure for public and private institutions
of higher education, provided that the total outstanding principal amount
of the bonds and notes shall not exceed $55,000,000 and the term of any
bond issued shall not exceed 15 years. In computing the foregoing
limitation as to amount, there shall be excluded all bonds or notes which
shall be issued for refunding purposes, provided that the refunding shall
be determined by the authority to result in a debt service savings. The
State Treasurer is hereby authorized to enter into a contract with the
authority pursuant to which the State Treasurer, subject to available
appropriation, shall pay the amount necessary to pay the principal and
interest on bonds and notes of the authority issued pursuant to this
section.
b. Bonds or notes issued pursuant to this act shall not be in any
way a debt or liability of the State or of any political subdivision
thereof other than the authority and shall not create or constitute any
indebtedness, liability or obligation of the State or of any political
subdivision thereof, or be or constitute a pledge of the faith and credit
of the State or of any political subdivision thereof, but all bonds or
notes, unless funded or refunded by the bonds or notes of the authority,
shall be payable solely from revenues of funds pledged or available for
their payment as authorized by this act. Each bond or note shall
contain on its face a statement to the effect that the authority is obligated
to pay the principal thereof, redemption premium, if any, or the interest
thereon only from revenue or funds of the authority and that neither
the State nor any political subdivision thereof is obligated to pay the
principal thereof, redemption premium, if any, or interest thereon and
that neither the faith and credit nor the taxing power of the State or
of any political subdivision thereof is pledged to the payment of the
principal of, redemption premium, if any, or the interest on the bonds.
c. The State of New Jersey does hereby pledge to
and covenant and agree with the holders of any bonds
or notes issued pursuant to P.L.1997,
c.238 (C.18A:72A-59 et seq.) that the State shall not limit or alter
the rights or powers hereby vested in the authority to perform and fulfill
the terms of any agreement made with the holders of the bonds or notes,
or to fix, establish, charge and collect such rents, fees, rates, payments,
or other charges as may be convenient or necessary to produce sufficient
revenues to meet all expenses of the authority and to fulfill the terms
of any agreement made with the holders of the bonds and notes, 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 on behalf of the holders, until the bonds and notes, together with
interest thereon, are fully met and discharged or provided for.
L.1997,c.238,s.7.
18A:72A-66 Agreements between authority
and institutions of higher education.
8. The authority may enter into an agreement with
a public or private institution of higher education to
finance the acquisition of higher
education technology infrastructure by the institution. In entering into
an agreement with a public or private institution of higher education,
the authority shall include in the agreement such provisions as may be
necessary to ensure that the institution shall provide a matching amount
at least equal to the amount of the grant provided.
L.1997,c.238,s.8.
18A:72A-67 Approval for entry into agreements.
9. The authority shall not enter into an agreement
with an institution of higher education unless the Commission
on Higher Education has adopted
a resolution which approves the acquisition of the higher education technology
infrastructure by the institution.
L.1997,c.238,s.9.
18A:72A-68 Financing of matching amounts.
10. a. To finance the matching amounts for institutions of higher
education which have received grants from the technology fund, the authority
may from time to time issue bonds or notes in an amount sufficient to
finance the purchase of higher education technology infrastructure pursuant
to agreements with public and private institutions of higher education
and to finance the administrative costs associated with the issuance
of bonds or notes. The authority shall issue the bonds or notes
in such manner as it shall determine in accordance with the provisions
of P.L.1997, c.238 (C.18A:72A-59 et seq.) and the "New Jersey educational
facilities authority law," N.J.S.18A:72A-1 et seq. The bonds
or notes issued pursuant to this section shall be repaid by the institutions
of higher education from any available funds, except grant funds provided
to the institution of higher education pursuant to this act.
b. The authority shall require that if an institution of higher
education fails or is unable to pay to the authority in full, when due,
any obligation of the institution to the authority , an amount sufficient
to satisfy the deficiency shall be retained by the State Treasurer from
State aid or an appropriation payable to the institution and paid to
the authority . As used in this subsection, "obligation of
the institution" means any amount payable by the institution for
technology infrastructure pursuant to an agreement with the authority.
c. The amount retained by the State Treasurer shall
be deducted from the corresponding appropriation or apportionment
of State aid payable
to the institution of higher education and shall not obligate the State
to make, nor entitle the institution to receive, any additional appropriation
or apportionment.
L.1997,c.238,s.10.
18A:72A-69 Criteria for approval, specific
information in grant application.
11. In order to ensure the most effective utilization
of the moneys in the technology fund and to guide governing
boards which elect to apply
for a grant, the Commission on Higher Education shall establish criteria
for approval and shall specify the information to be included in a grant
application.
L.1997,c.238,s.11.
18A:72A-70 Rules, regulations.
12. The Commission on Higher Education, in consultation with the
New Jersey Educational Facilities Authority , shall adopt, pursuant to
the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1
et seq.), the rules and regulations necessary to carry out the provisions
of this act.
L.1997,c.238,s.12.
18A:72A-71 Report to Governor, Legislature.
13. The Commission on Higher Education shall annually
submit a report to the Governor and the Legislature on
the higher education technology
infrastructure purchases at public and private institutions of higher
education, which have been approved by the commission and financed by
the New Jersey Educational Facilities Authority pursuant to this act.
L.1997,c.238,s.13. |
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