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Enacted in 2000, the Dormitory Safety Trust Fund Act was created in response to a tragic dormitory fire at Seton Hall University. The Authority was given authorization to administer up to $90 million in State-supported bond financing to provide zero and low interest loans for the installation of fire suppression systems in all student residence buildings at public and private colleges and universities in New Jersey, as well as secondary, boarding and military schools. In August of 2001, the Authority sold $73.8 million in bonds to finance a portion of the $90 million authorization, which provided loans to 27 institutions. On October 9, 2003, the Authority closed the second series of bonds in the amount of $5,440,000, which provided loans to 12 institutions.


Issue Maturity Interest Rate Principal Outstanding
12/31/2016
2001 A Matured 4.25%-5.25% $67,970,000 $0.00
2001 B Matured 6.0%-6.25% $5,800,000 $0.00
2003 A 03/01/2018 3.6%-4.2% $5,440,000 $710,000
    Total $79,210,000 $710,000

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New Jersey Educational Facilities Authority
103 College Road East, 2nd Floor
Princeton, NJ 08540-6612
Phone: 609-987-0880
Fax: 609-987-0850