ASSEMBLY, No. 2817

STATE OF NEW JERSEY

INTRODUCED MARCH 20, 1997

By Assemblymen ASSELTA and GIBSON

An Act appropriating $6,000,000 from the "Port of New Jersey Revitalization, Dredging, Environmental Cleanup, Lake Restoration, and Delaware Bay Area Economic Development Bond Act of 1996," P.L.1996, c.70 to provide financing for the cost a of baseball stadium and entertainment center in North Wildwood City.

    Be It Enacted by the Senate and General Assembly of the State of New Jersey:

    1. There is appropriated to North Wildwood City or to a municipal sports facility authority created by North Wildwood City pursuant to the provisions of P.L. , c. (C. ) (now in the Legislature as Senate Bill No. 1588 of 1996) if one is so established, from the "1996 Economic Development Site Fund" established pursuant to section 20 of the "Port of New Jersey Revitalization, Dredging, Environmental Cleanup, Lake Restoration, and Delaware Bay Area Economic Development Bond Act of 1996," P.L.1996, c.70, the sum of $6,000,000 for the purpose of financing the cost of the purchase of real property, equipment, and any other building, construction, and miscellaneous site improvements associated with the development of a baseball stadium and entertainment center in North Wildwood City.

    Any unexpended funds remaining after the completion of the project shall be returned to the "1996 Economic Development Site Fund" for reappropriation to fund additional projects authorized by law.

    2. The expenditure of sums appropriated by this act is subject to the provisions and conditions of P.L.1996, c.70.

    3. This act shall take effect immediately.

STATEMENT

    This bill would appropriate $6,000,000 from monies made available pursuant to the "Port of New Jersey Revitalization, Dredging, Environmental Cleanup, Lake Restoration, and Delaware Bay Area Economic Development Bond Act of 1996," P.L.1996, c.70 to North Wildwood City, or to a municipal sports facility authority if one is established by North Wildwood City pursuant to the provisions of Senate Bill No. 1588, for the purpose of financing the cost of the purchase of real property, equipment, and any other building, construction, and miscellaneous site improvements associated with the development of the baseball stadium and entertainment center in North Wildwood.

Appropriates $6,000,000 in 1996 bond act monies to North Wildwood City for development of baseball stadium.