ASSEMBLY TRANSPORTATION AND INDEPENDENT AUTHORITIES COMMITTEE

 

STATEMENT TO

 

ASSEMBLY, No. 5718

 

STATE OF NEW JERSEY

 

DATED:  NOVEMBER 8, 2021

 

      The Assembly Transportation and Independent Authorities Committee reports favorably Assembly Bill No. 5718.

      As reported, this bill authorizes the governing body of any county that acquires, establishes, and operates an airport to maintain, operate, and manage the airport as a public utility of the county and, for that purpose, the county is to keep the accounts of the airport utility separate and distinct from any other accounts of the county.

     The bill clarifies that a county of any class may issue bonds for the purpose of acquiring real estate and thereafter equipping, maintaining, and operating that real estate for airport purposes.  The bill also clarifies that counties and municipalities are to follow the provisions of the “Local Bond Law” when issuing bonds for airport purposes.