New Jersey Administrative Code
Title 9A - HIGHER EDUCATION
Chapter 14 - RULES AND PROCEDURES FOR IMPLEMENTATION OF THE HIGHER EDUCATION EQUIPMENT LEASING FUND ACT
Subchapter 1 - GENERAL PROVISIONS
Section 9A:14-1.2 - Definitions

The following words and terms, when used in this chapter, shall have the following meanings unless the context clearly indicates otherwise.

"Act" means the New Jersey Educational Facilities Authority Act, 18A:72A-1 et seq.

"Amending Act" means P.L. 2012, c. 42, the law that supplements and amends the Act.

"Authority" means the New Jersey Educational Facilities Authority or any board, body, commission, department, or officer succeeding to the principal functions thereof or to whom the powers conferred upon the Authority shall be given by law.

"Bond" means a bond or note of the Authority issued pursuant to the authority granted by the Act.

"Cost-effectiveness" means the degree to which a project produces a positive economic analysis when considering the construction expenses, operating, and maintenance expenses, compared to the project's resultant facilities and/or equipment, the life span of the facilities and/or equipment, facility usage and capacity, user productivity, and, where appropriate, such attributes as aesthetics, historic preservation, security, and safety.

"Equipment" means any property consisting of, or relating to, scientific, engineering, technical, computer, communications, or instructional equipment for use by institutions.

"Equipment leasing fund" means the Higher Education Equipment Leasing Fund as created by the Act.

"Institution" means a public or private institution of higher education that is eligible to receive State aid.

"Lease agreement" means any lease agreement by and between the Authority and any participating institution entered into pursuant to the Act.

"Secretary" means the Secretary of Higher Education.